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kotykmax [81]
3 years ago
13

Suppose Aiyanna's pizzeria currently faces a linear demand curve and is charging a very high price per pizza and doing very litt

le business. Aiyanna now decides to lower pizza prices by 5 percent per week for an indefinite period of time. We can expect that each successive week:
A. demand will become more price elastic.
B. price elasticity of demand will not change as price is lowered.
C. demand will become less price elastic.
D. the elasticity of supply will increase.
Business
1 answer:
snow_tiger [21]3 years ago
7 0

Answer:

The correct answer is option A.

Explanation:

Price elasticity of demand measures the change in the quantity demanded due to a change in the price of the commodity. In order to increase the demand for pizza, Aiyanna decides to lower the price of pizza by 5% per week.  

With passage to time, the demand for a commodity becomes more and more elastic. This is because, with time, the consumers are able to get adjusted to price change.  So each successive week demand will become more price elastic.

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A company contributes money towards a profit-sharing fund for its employees. Every 2 years, employees are free to withdraw money
Georgia [21]

A company contributes money towards a profit-sharing fund for its employees. Every 2 years, employees are free to withdraw money from their account without penalty. This benefit indicates Fixed Interval Reinforcement schedule.

A response is rewarded based on whether it was carried out within a set amount of time under a partial reinforcement schedule known as fixed interval reinforcement. It's crucial to remember that only the first reaction is acknowledged and rewarded.

The individual can engage in a behavior as many as they like, but they will only get rewarded once for it.

The reaction isn't reinforced every time it is executed, as I indicated fixed interval reinforcement is a partial reinforcement schedule. You would put your child on a continuous reinforcement schedule if you wanted to reward them each time, they made their bed.

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6 0
1 year ago
What piece of U.S legislation acts as the primary authority on collective bargaining
kramer
The main body of law governing collective bargaining is the National Labor Relations Act (NLRA). It is also referred to as the Wagner Act. It explicitly grants employees the right to collectively bargain and join trade unions. The NLRA was originally enacted by Congress in 1935 under its power to regulate interstate commerce under the Commerce Clause in Article I, Section 8 of the U.S. Constitution. It applies to most private non-agricultural employees and employers engaged in some aspect of interstate commerce. Decisions and regulations of the National Labor Relations Board (NLRB), which was established by the NLRA, greatly supplement and define the provisions of the act.

The NLRA establishes procedures for the selection of a labor organization to represent a unit of employees in collective bargaining. The act prohibits employers from interfering with this selection. The NLRA requires the employer to bargain with the appointed representative of its employees. It does not require either side to agree to a proposal or make concessions but does establish procedural guidelines on good faith bargaining. Proposals which would violate the NLRA or other laws may not be subject to collective bargaining. The NLRA also establishes regulations on what tactics (e.g. strikes, lock-outs, picketing) each side may employ to further their bargaining objectives.

State laws further regulate collective bargaining and make collective agreements enforceable under state law. They may also provide guidelines for those employers and employees not covered by the NLRA, such as agricultural laborers.

3 0
3 years ago
If a consumer is always indifferent between an additional one grapefruit or an additional two oranges, then when oranges are on
garri49 [273]

Answer: will be straight lines with a slope of -1/2.

Explanation:

An indifference curve simply means the combination of two goods that can give a consumer equal satisfaction, and this makes the consumer indifferent.

It should be noted that along the curve, the consumer will have an equal preference which is for the combinations of the goods that are shown.

If a consumer is always indifferent between an additional one grapefruit or an additional two oranges, then when oranges are on the horizontal axis, then the indifference curves will be straight lines with a slope of -1/2. Here, the fact that the slope is negative

is due to the fact that the curve is downward sloping.

8 0
3 years ago
Sandoval needs to determine its year-end inventory. The warehouse contains 24,000 units, of which 3,400 were damaged by flood an
Anna [14]

Answer:

The year-end inventory in units = 27,400

Explanation:

total units in warehouse = 24,000

damaged units = 3,400

Purchased units = 2,400

consigned units = 4,400

The year-end inventory is calculated as follows:

Year-end inventory = total units in warehouse - damaged units + purchase units + consigned units

= 24,000 - 3,400 + 2,400 + 4,400 = 27,400 units.

<em>Please note </em>

<em>1. using Free on Board (FOB) shipping point agreement, the buyer claims ownership of the goods the moment it is shipped from the seller's shipping point, and is recorded as inventory even before it arrives at the buyer's receiving point.</em>

<em>2. consigned goods are goods that are part of inventory, but is located with a different distributor other than the owner of the goods.</em>

8 0
4 years ago
Suppose 30% of a club are above 25 years old (M), 50% are between 21 and 25 (W) and 20% are below 21 (L). If all are exposed to
valina [46]

Answer:

The probability that a person selected at random has virus and is aged between 21 and 25 is 0.58.

Explanation:

let A be the event that the selected person has a virus.

let B1, B2 and B3 be the events that the selected perosn is  M, W and L accordingly.

the probabilities are given by:

P(B1) = 0.3

P(B2) = 0.5

P(B3) = 0.2

P(A|B1) = 0.65

P(A|B2) = 0.82

P(A|B3) =  0.5

probability of having virus and aged between 21 and 25 is given by:

[P(B2)*P(A|B2)]/[P(B1)*P(A|B1) + P(B2)*P(A|B2) + P(B3)*P(A|B3)]

= [(0.5)*(0.82)]/[(0.3)*(0.65) + (0.5)*(0.82) + (0.2)*(0.5)]

= 0.58

Therefore, the probability that a person selected at random has virus and is aged between 21 and 25 is 0.58.

8 0
3 years ago
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