Answer: The answer is elastic demand because elasticity of demand is > than 1
Explanation:Elasticity of demand is the degree of responsiveness of demand to slight change in price of goods. It is calculated as ED=% change in Qd/% change in price
Since Qd is 3 and 5
Qo-Q1/Qo*100%
3 - 5/3*100%
= -2/3*100%
= -200/3
=-66.6%(ignore the minus sign)
Po-P1/Po*100%
8-6/8*100
=2/8*100%
= 25%
ED= 66.6/25
=2.6
6-8/6*100%
=-2/6*100%
=-200/6
=-33.3%
ED= 66.6/33.3
=2
Since the elasticity of demand is greater than 2. Therefore elasticity of demand is elastic
Answer:
If the first rule is observed, the database is said to be in "first normal form." If the first three rules are observed, the database is considered to be in "third normal form." Although other levels of normalization are possible, third normal form is considered the highest level.
Answer:
C. Reduced prices of Sony televisions resulted in an increase in the quantity demanded.
Explanation:
Sony is a well known brand . What could explain a sudden double increase in sales while other brands' didn't is most likely a reduction in in prices of Sony products. It is a well known brand and they sell quality products which customers trust. Having a discounted price means they are offering a sale which customers would want to take advantage of.
Answer:
$0.15 hours per unit
Explanation:
Given that
Direct material cost = $16
Assume Direct labor cost = X
Manufacturing overheads = $18
Profit margin = 20%
Direct labor per hour cost = $28
The computation of direct labor-hour input is shown below:-
Total manufacturing cost = X + $34
Total cost of goods sold = (X + $34) × 1.7 = $66
Direct labor cost per unit
= (X + $34) = $38.82
= $38.82 - $34
= $4.32
Direct labor hours per unit = Direct labor cost per unit ÷ Direct labor per hour cost
= $4.32 ÷ $28
= $0.15 hours per unit
Answer:
Is what you like different from other people?
Explanation:
The are asking a personal question. "How do your clothing preferences differ from those of your friends?" do you and your friends have the same style or are you different.