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sattari [20]
3 years ago
8

As the manager of a golf resort, you want to increase the number of tee times sold by 10 percent. Your staff economist (and juni

or caddy) has determined that the price elasticity of demand for tee times is –1.5. To increase sales by the desired amount, how much should you decrease the price of a tee time in percentages?
Business
1 answer:
Luden [163]3 years ago
7 0

Answer:

The price of tee times needs to be decreased by 6.67%.

Explanation:

The manager wants to increase the number of tee times sold by 10 percent.

The price elasticity of demand for tee times is –1.5.

Percentage change in price of tee times to increase the demand by 10%

Price elasticity of demand = \frac{\% \Delta Q}{\% \Delta P}

-1.5 = \frac{10 \%}{\% \Delta P}

\% \Delta P = \frac{10}{-1.5}\% \Delta P = -6.67 \%

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Depreciation expense is apportioned to charge a reasonable portion of the depreciation amount for each accounting period over the expected useful life of the asset. Depreciation includes the depreciation of assets with a predetermined useful life.

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1 year ago
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5 0
3 years ago
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Law Incorporation [45]

Answer:

savings account

deposit

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4 0
3 years ago
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swat32

Answer:

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