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2 years ago

Please help need this done for class tomorrow!

Business

1 answer:

Ivanshal [37]2 years ago

7 0

Answer:

0.31

Explanation:

Income elasticity of demand measures the responsiveness of quantity demanded to changes in income

Income elasticity of demand = percentage change in quantity demanded / percentage change in income

Percentage change in income = $\frac{1000-300}{300}$ = 2.3

when income was $300, ramen was demanded twice, that is 2/7 times a week. converting to fraction gives 0.29

Percentage change in quantity = $\frac{0.5 - 0.29}{0.29}$ = 0.72

0.72/2.3 = 0.31

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Sheffield Corp. traded machinery with a book value of $978480 and a fair value of $906000. It received in exchange from Ivanhoe

Lemur [1.5K]

Answer:

Gain $72,480

Explanation:

Calculation for the amount of gain or loss that Sheffield should recognize on the exchange

Using this formula

Gain/Loss= Book value – Fair value

Let plug in the formula

Gain/Loss= $978,480 – $906,000

Gain=$72,480

Therefore the amount of gain or loss that Sheffield should recognize on the exchange will be $72,480

3 0

2 years ago

The following data relate to the Torrence Company for May and August:

Zinaida [17]

Answer:

Total cost= $1,193,000

Explanation:

Giving the following information:

May August

Maintenance hours 25,000 29,000

Maintenance cost $1,175,000 $1,247,000

<u>First, we need to calculate the variable and fixed costs using the following formulas:</u>

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (1,247,000 - 1,175,000) / (29,000 - 25,000)

Variable cost per unit= $18

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 1,247,000 - (18*29,000)

Fixed costs= $725,000

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 1,175,000 - (18*25,000)

Fixed costs= $725,000

<u>Now, the total cost for 26,000 hours:</u>

Total cost= 725,000 + 18*26,000

Total cost= $1,193,000

7 0

2 years ago

Economic Order Quantity computes:

Mamont248 [21]

Answer:

D: Optimum Order size

Explanation:

Economic Order Quantity (EOQ) is a formula applied in logistic and supply chain management to calculate a business's ideal order size. As the name suggests, the order EOQ provides an order quantity that makes economic sense.

Economies of scale suggest that a bigger order size is better because the business will save transport costs. However, ordering in large quantities increases the cost of holding stock. The economic order quantity strikes a balance between these two important factors.

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3 years ago

The lm curve:_____.

Feliz [49]

The LM curve slopes upward. The IS-LM model explains how aggregate real goods market and financial markets interact to balance the macroeconomy's interest rate and overall output. Investment Savings-Liquidity Preference-Money Supply, or IS-LM. The model was created as a formal graphic illustration of a Keynesian economic theory premise.

The letters "IS" stand for one curve on the IS-LM curve, while "LM" stands for an other curve. The IS-LM framework can be used to explain how shifts in market preferences affect the equilibrium values of the GDP and market interest rates. The IS-LM model is neither realistic or precise enough to be a helpful instrument for recommending economic policy.

To learn more about LM curve, click here

brainly.com/question/15969209

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5 0

1 year ago

If Papa John's wants to determine the impact of different coupon offers on pizza unit sales, it needs to conduct:

Jobisdone [24]

Answer: (A) Experimental research

Explanation:

The experimental research is one of the type of method that helps in determining the different types of data by using the scientific approach and it also control all the scientific variable information that can controlled all the manipulated data or information in the system.

The main purpose of the experimental research is that it helps in establish the relationship of the two variables and also used for the investigation purpose.

According to the given question, the papa john wanted to determine re different coupons on the pizza sales unit and he basically needs for conducting the experimental research.

Therefore, Option (A) is correct.

7 0

2 years ago