Answer:
The correct answer is that the company should <u>charge more to the business travelers</u> and <u>charges less to the vacationers</u>.
Explanation:
To begin with, the concept called ''elasticity'', in the field of economics, refers to the variation that occurs when a change in one variable affects a change in another variable. Moreover, this concept has many applications regarding if the main subject is the supply of a product or the demand of a product.
Secondly, the <em>price elasticity of demand</em> is an elasticity application in economics that establishes the changes that occur to the demand of a product when the price changes. This elasticity could be inelastic or elastic. In addition, if the price elasticity of demand is inelastic then when the price changes the quantity demanded of that product will not change drastically while in the other hand, if the price elasticity of demand is elastic then when the price changes the quantity demanded of that product will change drastically so therefore the consumers reject the change in the price.
Finally, if the company wants to increase its total revenue then it must increase the price that charges to the business travelers and decrease the price that charges to the vacationers.
Answer:
The correct answer is letter "C": Larger, lower.
Explanation:
According to different researches carried out across the U.S., young adults who are between 18 and 29 years old have a total debt to $1.05 trillion. Individuals' debt who are older than 70 is $1 trillion. The average debt amount that young adults (18-29) have is $22,000 while elder people from 50 years old and on is $36,000.
Then, <em>young adults have larger accumulated debt than elders and their debt amounts are lower as well.</em>
Given: Variable Cost Fixed Cost
per haircut per month
base salary 9660
manager bonus 530
commission 5.92
advertising 270
rent 940
barber supplies 0.30
utilities 0.25 180
magazines 25
Total 6.47 11605
Revenue 11.47
Break even point in unit = Fixed expenses per month / Contribution margin per month.
Break even point in unit = 11,605 / (11.47-6.47) = 11,605 / 5 = 2,321 haircuts
Break even point in $ = Fixed expenses / Contribution margin ratio
Break even point in $ = 11,605 / (5/11.47) = 11,605 / 0.44 = 26,375
Net Income = (Contribution Margin * # of haircuts) - Fixed expenses
Net Income = (5 * 2,380) - 11,605 = 11,900 - 11,605 = 295
Answer:
the change in the equilibrium quantity of the good. the change in the equilibrium price of the good.
Explanation:
The benefit that government receives from a tax is measured by a. b. c. d. the change in the equilibrium quantity of the good. the change in the equilibrium price of the good.
Population is a rising problem in the world today. It is continuously increasing in the developing countries. In future also the population is supposed to rise. Most of the current and future world population growth is occurring in DEVELOPING COUNTRIES ASIA, AFRICA AND SOUTH AMERICA. Control measures have been adopted by government of various countries to control this problem.