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Airida [17]
3 years ago
15

Below, you are provided with four groups of different goods. These goods are differentiated by the number of likely substitutes

that each has, and by the fraction of income that consumers spend on each. You will rank the goods within each group by their expected price elasticities of demand.
Consider the following three goods:
1. a red convertible car
2. a car
3. a convertible car.

Rank the demand of these three goods by their expected price elasticities of demand from most elastic to least elastic.
Business
1 answer:
gavmur [86]3 years ago
7 0

Answer and Explanation:

The red and the convertible cars would be considered similar i.e. they are perfect substitutes also the car and the convertible car would be the substitutes but it is not a perfect as the convertible car would be the subset of the car group plus the expenditure made on the convertible car would be high so here the elasticity is more

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4 0
4 years ago
Tony's Beach T-Shirts has fixed annual operating costs of $75,000. Tony retails his T-shirts for $14.99 each and the variable co
Andreyy89

Answer:

$112.425

Explanation:

breakeven is

first we need to understand the concept of breakeven:

breakeven in sales makes reference to the amount of revenue in dollars at which a company has a profit of zero ($0.00). covering the underlying fixed expenses of a busines

with this concept we have that :

Total Costs   = fixed annual operating cost + variable cost + sold units

Revenue = Total Costs

14.99 * sold units = 75,000 + 4.99 * units

10 * sold units = 75,000

breakeven  = 7,500  units

now we can have the breakeven in dollars doing the convertion

breakeven = breakeven in units * prices

breakeven= 7,500 units * $14.99/unit  

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8 0
3 years ago
Abburi Company's manufacturing overhead is 40% of its total conversion costs. If direct labor is $105,000 and if direct material
ivanzaharov [21]
Manufacturing overhead= $57,600
Explanation:
To calculate the Conversion costs, we need to use the following formula:
Conversion costs= direct labor + manufacturing overhead
Now, if direct labor is 60% of conversion costs, then:
Conversion costs= direct labor / (1 - 0.4)
Conversion costs= 86,400 / 0.6
Conversion costs= $144,000
Finally, we determine the manufacturing overhead:
Manufacturing overhead= 144,000 - 86,400
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5 0
3 years ago
As the benefit of consuming more of a good falls with each additional unit, the price consumers are willing and able to pay also
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As the benefit of consuming more of a good falls with each additional unit, the price consumers are willing and able to pay also falls with increased consumption. this scenario describes a downward-sloping demand curve

<h3>What is a Demand Curve?</h3>

This refers to the graph or pictorial representation that shows how the demand for a commodity or service varies with changes in its price.

Hence, we can see that As the benefit of consuming more of a good falls with each additional unit, the price consumers are willing and able to pay also falls with increased consumption. this scenario describes a downward-sloping demand curve

Read more about demand curve here:

brainly.com/question/9387886

#SPJ1

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2 years ago
Data​ _______ refers to the​ collection, storage,​ retrieval, and management of data in an​ organization's electronic files.
Mademuasel [1]
<span>This is called data warehousing. This is a core element of business intelligence. Data warehouses store both the current and historical data in one place. The data warehouses can be used to create analytical reports for knowledge workers throughout the enterprise.</span>
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