Answer:
Elasticity is independent of the units of measurement.
Explanation:
Elasticity in economics, is a term that describes the measurement of the percentage change of one economic variable in response to a change in another economic variable.
Unlike the slope of the demand curve which measures the steepness or flatness of a line in terms of the measurement units for price and quantity. Elasticity on the other hand, has the advantage of being a unitless ratio, independent of the type of quantities being varied, which in turn simplifies data analysis.
Hence, Economists use elasticity to measure the responsiveness of quantity to a change in price rather than the slope of the demand curve because elasticity is independent of the units of measurement
Database is correct, it must store data and be easy to access and retrieve.
Answer:
13.3 times per week
Explanation:
Inventory turnover helps to show how efficiently a company manages its inventory by comparing the cost of goods sold and the average inventory for a particular period. In other words, it measures how many times a company sold its total average inventory amount during a particular period. In this case, one week. This is an important assessment to ensure two things:
1. Inventory meets sales adequately and sales will not be affected by not having enough inventory.
2. Too much inventory is not held at one point, which would incur high storage and holding costs, and also wastage in terms of perishable inventory such as hamburger patties.
It is calculated as cost of goods sold / average inventory.
In this case, 6000 third - pound hamburgers are sold each week, with it costing $1.5 per pound.
6000 x 1/3 = 2000 pounds
2000 pounds x $1.5 = $3000 COGS per week.
Since average inventory is 450 pounds for two weeks, it would be 225 per week.
Hence, inventory turnover =
$3000 / 225 = 13.3 times per week
Your answer is 2730!!!!!!
Answer: The Clean Water Act (CWA) of 1972 did all of the following except
<u>take over the EPA's authority to impose pollution control programs.</u>