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:
Overhead refers to the ongoing business expenses not directly attributed to creating a product or service. It is important for budgeting purposes but also for determining how much a company must charge for its products or services to make a profit
Explanation:
The answer to this question is Objective
In business terms, objective refers to a specific result/situation that company wants to achieve within a certain time frame, after considering all their available resources. In this particular case, the research being done is the resource and connecting advertising to actual dealership is the result/situation that they want to achieve.
Answer:
The total factory overhead to be charged to the desk lamps is $235,000
Explanation:
solution attached below
Services are now the largest single component of the supply side of gdp, representing over half of gdp.