1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
yuradex [85]
2 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:
kramer2 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

You might be interested in
The inclusion of all product and period costs necessary for making and marketing a product or service is a distinguishing featur
Neporo4naja [7]

Answer:

The correct answer is the option B: market price.

Explanation:

To begin with, the concept known as "Market Price" in the field of marketing and business refers to the specific number that will contain all the costs as well as the margin wanted to end up formulating what the customers will pay when they are wanting to buy the product or service. Therefore that the market price must include all product and period costs that are necessary for making and marketing as well the product or service itself. It is obvious that the marketing costs are as important as all the direct costs that are needed for the proper production of the product due to the fact that without it the product may not be sell to any one.

4 0
3 years ago
A comprehensive evaluation of the group of businesses a company has diversified into involves: a.evaluating the attractiveness o
MariettaO [177]

Answer:

All of the options

Explanation:

A comprehensive evaluation of the group of businesses a company has diversified into involve:

Evaluating the attractiveness of industries the company has diversified into and the competitive strength  of each of its business units.

Evaluating the strategic fits and resource fits among the various sister businesses.

Ranking the performance prospects of the businesses from best to worst and determining what the  corporate parent's priorities should be in allocating resources to its various businesses.

Using the results of the prior analytical steps as a basis for crafting new strategic moves to improve the  company's overall performance.

5 0
3 years ago
When managers are evaluated on residual income, rather than on return on investment (ROI), they will be______(more/less) likely
anygoal [31]

When managers are evaluated on residual income, rather than on return on investment (ROI), they will be more likely to pursue projects that will benefit the entire company.

Explanation:

The most rising profitable formula is return on investments or ROI. There are several methods of calculating ROI, but dividing net income by total assets is the most common process.

If you have $100,000 net profits and $300,000 in cash, the ROI is $300,000. Thirty-three or three percent.

Due to its flexibility and simplicity, ROI is a common metric. In general, ROI can be used as a basic measure of the viability of an project. It may be the ROI for a capital sale, a company's ROI for an extension of a factory or ROI for an immobilisation operation.

4 0
3 years ago
Your buyer has just said, "Your machines break down more often than most of your major competitors' machines." You decide to rep
lakkis [162]

Answer:

From my view, the BEST example of indirect denial is E.

Explanation:

In the indirect denial method, We first directly agree with the customer's view point and then give a reason why that customer's view is not 100% accurate.

In E, we can clearly see this, you first say Yes by saying "that's true". and then gives a fair reason why your deal is still the best.

In the Option B, which seems an ok answer too, we don't directly agree with the customer's statement first.

Because of this, Option E is the most applicable answer.

8 0
2 years ago
Machinery was purchased for $340,000. Freight charges amounted to $14,000 and there was a cost of $40,000 for building a foundat
Aleonysh [2.5K]

Answer:

$66,800

Explanation:

Depreciation is used in expensing the cost of an asset

Depreciation reduces the value of an asset

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

Cost = $340,000. + $14,000 + $40,000 = $394,000

($394,000 - $60,000) / 5 = $66,800

4 0
3 years ago
Other questions:
  • Classify the following descriptions of constraints as bounds, limitations, requirements, proportional relationships, or balance
    6·1 answer
  • Based on the interdependence of the four types of salesperson goals, what should a salesperson's sales call goals be based on?
    5·1 answer
  • Kate holds a middle-management position with a large corporation. She prefers to involve her subordinates in decision making. Sh
    13·1 answer
  • Consider a no-load mutual fund with $400 million in assets, 50 million in debt, and 15 million shares at the start of the year a
    10·1 answer
  • A company acquired an office building, land, and equipment in a single basket purchase. The fair values were $1,200,000, $600,00
    14·1 answer
  • Select two skills and two personal values from the list in the article that you feel you have to offer in the workplace. Discuss
    8·1 answer
  • Product differentiation is the process that firms use to make a product more attractive to potential customers. On which of the
    7·2 answers
  • An important part of the official government plan for restructuring the economy was _____.
    12·1 answer
  • As the owner of La Boulangerie Bakery in Baton Rouge, Louisiana, you have a devoted clientele savoring your delicacies. Your sal
    15·1 answer
  • i need to know whether you are able to perform the following functions of the job, revising existing marketing materials, promot
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!