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yuradex [85]
3 years ago
14

Ticket prices to a Kanye West concert increase from $40 to $60. As a result, ticket sales decrease from 50,000 to 40,000. The el

asticity of demand for Kanye West tickets equals ________ and demand is ________.
Business
1 answer:
kramer3 years ago
4 0

Answer:

.4

Inelastic

Explanation:

Elasticity of Demand = |%Change in Demand / %Change in Price|

%Change in Demand= |(40,000 - 50,000)/50,000| =  20%

%Change in Price = |(60 - 40)/40| = 50%

Elasticity of Demand = .2/.5 = .4 or 40%

.4 < 1 so Demand is Inelastic

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Gary had developed an extremely successful advertising and promotion campaign for a client in the United States. The client want
evablogger [386]

Answer:

differences in languages, customs, and culture might make the campaign meaningless and ineffective in some markets.

Explanation:

Cultural uniqueness should be considered by the client before the campaign is rolled out globally.

Due to culture shock the content that will be effective in attracting clients in the United States may have an opposite effect in another country.

So before global rollout, the campaigns should be customised to each culture that it is targeting to reduce rejection rate due to culturally unaccepted content.

5 0
4 years ago
What percentage of greek students think that hazing is an essential part of their organization?
FrozenT [24]

There has been a study that has conducted of hazing should be a part or not in organizations with the greek students. Almost all of the people that have surveyed and participated had agreed to have hazing as not a part of the organizations which led to a result of 79.4%, while the remaining 12.8% has agreed that hazing is an essential part of the organization.

7 0
3 years ago
Kennedy Company reports the following costs and expenses in May. Factory utilities $ 13,500 Direct labor $79,100 Depreciation on
Pie

Answer:

(a) $158,350

(b) $395,050

(c) $79,140

Explanation:

(a) Manufacturing overhead:

= Factory utilities + Depreciation on factory equipment + Indirect factory labor +  Indirect materials + Factory manager's salary + Property taxes on factory building + Factory repairs

= $ 13,500 + $12,650 + 48,900 + 70,800 + 8,000 + 2,500 + 2,000

= $158,350

(b) Product costs:

= Total Manufacturing overhead + Direct material used + Direct labor

= $158,350 + $157,600 + $79,100

= $395,050

(c) Period cost:

= Depreciation on delivery truck + Sales salaries + Repairs to office equipment + Advertising + Office supplies used

= 3,800 + 48,400 + 1,300 + 23,000 + 2,640

= $79,140

8 0
3 years ago
A project has a capital outlay of $12.75m and will yield future cash flows of $3m per annum for the next 10 years. The required
dedylja [7]

Answer:

NPV $4.20  million(positive)

IRR 19.60% ( greater than the cost of capital of 12%)

Explanation:

The net present value of the project is the present value of future cash flows discounted at the required rate of return of 12% minus the initial investment outlay

Present value of a future cash flow=future cash flow/(1+r)^n

r=required rate of return=12%

n is the year in which the cash flow is expected, it is 1 for year 1 cash flow, 2 for year 2 and so on.

NPV=$3/(1+12%)^1+$3/(1+12%)^2+$3/(1+12%)^3+$3/(1+12%)^4+$3/(1+12%)^5+$3/(1+12%)^6+$3/(1+12%)^7+$3/(1+12%)^8+$3/(1+12%)^9+$3/(1+12%)^10-$12.75

NPV=$4.20  million

The internal rate of return is the discount at which the present value of the future cash flow and the initial outlay are the same using IRR excel function

Years cash flows

0 ($12.75)

1 $3  

2 $3  

3 $3  

4 $3  

5 $3  

6 $3  

7 $3  

8 $3  

9 $3  

10 $3  

IRR(B2:B12) 19.60%

7 0
3 years ago
Vito borrows $150,000 from Workers &amp; Farmers Bank to buy a home. If he fails to make payments on the mortgage, the bank has
mariarad [96]

Answer: Option C

Explanation:  Foreclosure is something that occurs if the mortgage is not paid by a borrower. In fact, it is a judicial process through which the person relinquishes all ownership rights.

If the owner is unable to settle off the outstanding loans or sell property through a short sale, then the estate will go to an exchange for foreclosure. If the estate does not sell then, it will be taken over by the lender.

When a lender loans you money without any collateral (credit card debt, for instance), it can take you to court for failure to pay, but it can be very hard to collect money from you.

Lenders often sell this sort of debt to outside collection agencies for pennies on the dollar and write off the loss. This is considered an “unsecured loan.”

5 0
3 years ago
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