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Svet_ta [14]
3 years ago
13

. Empirical estimates suggest the following price elasticity of demand: 0.6 for Coca Cola; 4.0 for foreign vacation travel; and

0.2 for food. Using the determinants of price elasticity of demand, explain why each of these commodities would have these coefficients elasticity. C. JaneK Ghana Ltd., is the main sales agent of Infinix phones in Ghana. The economist of this enterprise has estimated the demand function for the firm's products per week to be of the form: QI = 445 – 2.5PI – 8I + 2.5PC where; QI is the quantity demanded of Infinix phones, PI is its own-price, PT is the price of a related good (Tecno Phones) and I is income. Given that PI = 10, PT = 5 and I = 40, use the above information to: i. Determine the quantity demanded of Infinix phones per week and compute the own-price elasticity of demand for Infinix phones and interpret your results. ii. Based on your answer in (i), what pricing policy would you recommend for the firm in order to maximize its total revenue? iii. Calculate the cross-price elasticity of demand between Infinix and Tecno phones, interpret your results and determine the kind of relationship that exists between the two. iv. Compute the income elasticity of demand and determine if Infinix phones are normal goods or not. Explain your results.
Business
1 answer:
Anon25 [30]3 years ago
4 0

Explanation:

the answer is I don't know

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What is joint tenancy?
NeTakaya

Answer:

Explanation:

Joint tenancy is a lawful course of action in which at least two individuals possess a property together, each with equivalent rights and commitments. When one of the proprietors in a joint tenure dies, that proprietor's interest in the property goes to the survivors without the property experiencing the courts.

3 0
3 years ago
Isabella files her income tax return 35 days after the due date of the return without obtaining an extension from the IRS. Along
forsale [732]

Answer:

a. Failure to pay penalty = 400

b. Failure to file penalty = $4,000

Explanation:

The monthly rate for failure to pay penalty is 0.5% while the failure to file penalty.

Since it is assumed that there are 30 days in a month, the 35 days after the due date of the return without obtaining an extension from the IRS is will be counted as 2 months regardless of the fact that the second month is just 5 files when she filed.

Therefore, we have:

a. Failure to pay penalty = $40,000 * 0.5% * 2 = 400

b. Failure to file penalty = ($40,000 * 5% * 2) = $4,000

c. Total penalties = (Failure to file penalty - failure to pay penalty for the same period) + Failure to pay penalty = ($4,000 - $400) + $400 = $4,000.

Therefore, the total penalty Isabella will pay is $4,000.

5 0
3 years ago
Adams Manufacturing allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Adams est
Ostrovityanka [42]

Answer:

150%

Explanation:

Computation of the predetermined overhead rate

Using this formula

Predetermined overhead rate=Estimated overhead/Estimated direct labor cost

Let plug in the formula

Predetermined overhead rate=$322,500/ $215,000

Predetermined overhead rate=1.5*100

Predetermined overhead rate=150%

Therefore Predetermined overhead rate will be 150%

6 0
3 years ago
Which of the following is not generally regarded as a legitimate reason for gov't to intervene in a market?
Bess [88]

Answer:

C. To enforce property rights

Explanation:

Government intervention in market can be non materistically via regulation , materistically via taxes & subsidy.

Although the second materislistic way of tax, subsidy comes under the perview of 'Government Budget' .

Government budget is anual financial statement showing economy's expected revenue & expenditure .

Economic growth & stability by reallocation of resources , reducing income inequalities - reflect 'efficiency' & 'equity' as valid reasons .

Foreign protection is also not invalid depending upon the initial budding stage of a developing economy & its global stand. Eg - India 1950 to 1990 .

However all these are progressive legitimate reason for govt. Intervention .

But , enforcing property rights is a feature of 'socialistic (communistic) economy - which has its own demerits like loss of consumers soveireignity , lack of postive competitive efficiency , govt overburden.

7 0
3 years ago
Bianca is conducting an experiment to determine how temperatures affect the productivity of employees. she has just completed th
Lyrx [107]
What are you asking as an abriviation
4 0
3 years ago
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