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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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Mark was recording accounting transactions when he came across a non-standard transaction type. However, based on his knowledge
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Answer:

The best answer to the question: This is an example of used a(n):___, would be, A: Conceptual framework to solve new problems.

Explanation:

A conceptual framework is a an analytical method, or technique, that is used in order for the person to be able to see the full picture, and the different variants and factors around it, in an organized manner. Applying this technique will allow a person to discover all the factor within an issue, visualize them and propose viable solutions to them. And this is what Mark did when he came by the non-standard transaction type. He still had to record the transaction, but the usual methods would not work for it. Therefore, Mark made use of his own knowledge and after viewing the problem through the conceptual framework technique, he was able to find a reasonable solution and thus filfill his job.

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The country of Leverett is a small open economy. Use the information provided below to answer the following questions about nati
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Answer:

Explanation:

When Leverett's exports became less popular, its savings, Y-C-G does not change. Reason being that, it is assumed that Y depends on the amount of capital and labour, consumption depends only on disposable income and government spending is a fixed extrinsic variable.

Since investment depends on interest rate, and Leverett is a small open economy that takes the interest rate as given, thus investment also does not change . Neither does net export change (This is shown by the S-I curve in the attachment).

The decreased popularity of Leverett's exports leads to an inward shift of the net export curve inward. At the new equilibrium,net exports remains unchanged, though the currency has depreciated.

Leverett's trade balance remained the same, despite the fact that its exports are less popular, this is due to the fact that  the depreciated currency provides a stimulus to net exports which overcomes the unpopularity of its exports by making them cheaper.

b. Leverett's currency now buys less foreign currency, thus traveling abroad  becomes more expensive. This is an instance showing that imports (including foreign travel) have become more expensive- as required to keep net exports unchanged in the case of decreased demand for exports.  

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4 years ago
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How much time from shady grove to union station?
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The goldsmith's ability to create money was based on the fact that:
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4 years ago
Company A has sales of $500,000, variable costs of $350,000, and fixed costs of $150,000. Company A has ______.
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Company A has: Reached the break-even point  and Company A's contribution margin equals the fixed costs.

<h3>What is break even point?</h3>

Break even point is the point in which a company neither make gain or loss.

Based on the information given company A  has reached the break-even point because there is no gain or loss.

Company A's contribution margin also equals the fixed costs.

Contribution margin=Sales-Variables cost

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Inconclusion Company A has: Reached the break-even point  and Company A's contribution margin equals the fixed costs.

Learn more about break even point here:brainly.com/question/9212451

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