Answer:
Quantity of beef demanded will decrease by 12%
Explanation:
Data provided in the question:
Price elasticity of demand for beef, Ed = 0.60
Increase in the price of beef = 20%
Now,
Price elasticity of demand for beef,
Ed = [ Percentage change in Quantity ] ÷ [ Percentage change in price ]
or
0.60 = [ Percentage change in Quantity ] ÷ 20%
or
Percentage change in Quantity = 0.60 × 20%
or
Percentage change in Quantity = 12%
Also,
Price and Quantity are inversely proportional
Hence,
With the increase in price, the quantity will decrease
Therefore,
Quantity of beef demanded will decrease by 12%
Answer:
B. $300,000
Explanation:
For computing the dividend, the computation is shown below:
= Current E&P + accumulated E&P at the beginning of the year
= $200,000 + $100,000
= $300,000
The dividend is $300,000 which is less than the distributed amount i.e $400,000 So, the distribution of dividend is only $300,000 ,not the $400,000 and the same is considered.
Answer: marketing plan
Explanation: In simple words, marketing plan refers to the plan that outlines the set of activities that an organisation has to perform for the next year in respect to its advertising and marketing efforts. A market plan is seen as a sub part of a business plan.
It helps an organisation to effectively perform its marketing activities as it outlines the sources , methods and timing of how it will be performed. Thus, in the genitive case, company should make a marketing plan by which they can aware their customers and can increase their market share.
Answer:
Explanation:
When there are more substitutes for a product, the demand for the product is more price elastic. The implication of this is that the demand of such product will drop when there is increase in it price because people can get another product which will play the same role with the previous at a lesser price. Hence, the demand for the product vis more price elastic.
Answer:
Capitalism is an economic system based on investing money in the expectation of making a profit. The means of production are usually privately owned by private entrepreneurs who often use wage labor to create added value. In doing so, they enjoy a great deal of legal freedom to dispose of these means, free enterprise production. This freedom also means that there is competition, which means that entrepreneurs have an interest in increasing the efficiency of their company. Hence, the capital owner will not fully consume the profit but reinvest in the business and capital accumulation takes place. The distribution of products is regulated by the market, in which the role of the government is, in principle, limited to that of market master.
