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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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Lorico [155]

The economic growth in the recruitment letter was demonstrated as a result of industrial production.

<h3>What is economic growth?</h3>

A stable uplift in the economic conditions, in comparison to the previous economic period(s), is regarded as an economic growth. It is driven by many external factors.

In the recruitment letter, it was found that the increase in the industrial productivity led to extreme economic growth in the United States of America.

Hence, the reasons for the economic growth have been aforementioned.

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4 0
2 years ago
Increased flexibility in scheduling has become an important benefit for employers to offer because of:
Katyanochek1 [597]

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4 0
3 years ago
Red Co. acquired 100% of Green, Inc. on January 1, 2017. On that date, Green had land with a book value of $42,000 and a fair va
Sergeeva-Olga [200]

Answer:

$5,000

Explanation:

The computation of total amount of excess fair over book value amortization expense adjustments to be recognized by red is shown below:-

Excess of fair value over book value =  Land fair value - Land book value

= $52,000 -$42,000

= -$10,000

Here land is not amortized

Excess of fair value over book value = Building fair value - Building book value

= $390,000 - $200,000

= $190,000

Excess fair value over book value amortization expense adjustments to be recognized by red = Excess of fair value over book value of building ÷ Number of Years

= $190,000 ÷ 10

= $19,000

Excess of fair value over book value = Equipment fair value - Equipment book value

= $280,000 - $350,000

= ($70,000)

Excess fair value over book value amortization expense adjustments to be recognized by red for equipment = Excess of fair value over book value of equipment ÷ Number of Years

= ($70,000) ÷ 5

= ($14,000)

Total amount of excess fair over book value amortization expense adjustments to be recognized by red

= $19,000 - $14,000

= $5,000

7 0
3 years ago
The management of Wengel Corporation is considering dropping product B90D. Data from the company's accounting system appear belo
slamgirl [31]

Answer:

Net loss of $24,600

Explanation:

Sales              $773,900

Variable Expenses ($402,100)

Contribution Margin $371,800

Avoidable Expenses of B90D

Fixed Manufacturing Expenses        $186,000

Fixed Selling and Admin Expenses  %161,200

Total Avoidable expenses                 $347,200

If the product B90D is discontinued,the contribution margin of $371,800 will be lost by Wengel corporation and costs of $347,200 will be saved.

Therefore there will be net loss of $(371,800-347,200) $24,600 to the company if the product is discontinued.

3 0
3 years ago
________ is the process of distributing indirect costs to products. cost allocation job cost recording cost pooling cost tracing
tatuchka [14]
I believe the answer is cost allocation.
3 0
3 years ago
Read 2 more answers
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