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lara [203]
3 years ago
15

In Cleveland, Clive sells 15 cloves at a price of $5 each. If Clive lowers his price by 10%, to $4.50 per clove, he will sell 16

, or 6.67% more. In Dallas, Delores sells 15 cloves for $5 each. If Delores lowers her price by 2%, to $4.90, she will sell 16 cloves, or 6.67% more. Please state all price elasticities of demand as absolute values. Round answers to two places after the decimal when necessary.
Business
1 answer:
blondinia [14]3 years ago
8 0

Answer:

The Price elasticity of demand shows the effect of a change in price on the quantity demanded. In other words, it shows the percentage change in quantity demanded as a result of a 1% change in price.

Price elasticity of demand = % change in quantity demanded / % change in price of good

Clive Cloves price elasticity:

= 6.67% / 10%

= 0.667

Delores Cloves price elasticity:

= 6.67% / 2%

= 3.335

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Cost of Goods Sold Pine Creek Company completed 200,000 units during the year at a cost of $3,000,000. The beginning finished go
Tatiana [17]

Answer:

$3,085,000

Explanation:

FIFO means first in first out. It means it is the first purchased inventory that is the first to be sold.

The costs of goods sold would first be allocated to the beginning inventory = $310,000

The remaining cost of goods sold Je allocated to the inventory made during the year = 210,000 - 25,000 = 185,000

185,000 × ( $3,000,000 / $200,000) = $2,775,000

Total cost of goods sold = $2,775,000 + $310,000 = $3,085,000

I hope my answer helps you

3 0
4 years ago
Which of the following statements is true of needs assessment? Group of answer choices
Nuetrik [128]

Answer:

C. The role of the needs assessment is to determine if training is the appropriate solution

Explanation:

3 0
3 years ago
The Phelan Division produces and sells a product to external and internal customers. Per-unit information about its operations i
ioda

Answer:

The answer is $250

Explanation:

Solution

From the example given, we are asked to find the internal transfer price of Phelan's product.

So, if Phelan is operating at capacity or speed and has unlimited external customer demand then the transfer price for Phelan's product is $250 as it has huge demand from customers

6 0
3 years ago
According to the video congressional earmarks, the trading of votes by members of congress to obtain passage of projects that ar
sineoko [7]
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8 0
4 years ago
Jia is considering whether to go out to dinner at a restaurant with her friend. The meal is expected to cost $40, jia typically
julsineya [31]

Jia cost & benefit associated with going out to dinner is $58 and $63 respectively.

Basically, the calculation is about getting the amount that Jia spent and benefit during the dinner with her friend.

<u>Calculation of Jia's cost</u>

The cost includes expected cost of $40 for meal, $8 for tip (20%*$40) and $10 for Uber transport (To and fro)

= $40 + $8 + $10

= $58

In conclusion, Jay's cost associated with going out to dinner with her friend is $58.

<u>Calculation of Jia's benefit</u>

The benefit of the dinner includes $25 for meal valuation, amount of spending an evening with her ($30) and the $8 that she will spend if he doesn't go for dinner

= $25 + $30 + $8

= $63

In conclusion, Jay's benefit associated with going out to dinner with her friend is $63.

See similar answer here

<em>brainly.com/question/21122864</em>

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