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dimaraw [331]
3 years ago
10

Every year Christmas tree vendors bring tens of thousands of trees from the forests of New England to New York City and Boston.

During the last 2 years, the market has been competitive; as a result, price has fallen by 10 percent. If the price elasticity of demand was -1.3, vendors would lose revenues altogether as a result of a price decline.
A. True
B. False
Business
1 answer:
VikaD [51]3 years ago
3 0

Answer:

B) False

Explanation:

Since the price elasticity of demand is -1.3, it is considered elastic. That means that a 10% decrease in the price will result in a 13% increase in total quantity sold.

E.g. original price = $100, quantity demanded = 100 trees, total revenue = $10,000

price decreases by 10% to $90, but the quantity demanded increased by 13% to 113 trees, total revenue = $10,170

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If the market rate of interest is 6 percent, what is the present discounted value of $1,000 that will be paid in
Pachacha [2.7K]

The formula for percent discount value after n years at the rate r is given by 
pdv=fv/(1+r)^n 
where fv is the fixed value  
here only fixed value is given to us so we will calculate the discounted value for coming 10 years 
after  
year 1=943.4
 2=890
 3=839.62
 4=739.09
 5=747.26
 6=704.96
 7=665.06
 8=627.41
 9=591.90 
10=558.39
6 0
3 years ago
Suppose Lisa starts driving for Uber as a part-time job to supplement her income as a home-based web designer. When working as a
abruzzese [7]

Answer:

$12.5(at least) would be needed to induce Lisa for driving Uber instead of working on web designing.

Explanation:

Lisa makes $25 per job on web designing from her home and in the first hour she can complete 2 additional jobs. But as per the question by the eight hour she can only do .5 jobs which means that for the eight hour she would earn -

                        .5 x $25 = $12.5 ( per job she gets $25)

So if Lisa goes on doing work as uber driver she is going to loose $12.5 in the eight hour , so we can say that if Lisa is offered $12.5 hourly rate to work as cab driver then she is not going to miss out on the money she would have made as web designer from home.

3 0
3 years ago
White Forest Financials is a small investment firm, operating in an extremely volatile environment. One of the company's two own
allochka39001 [22]

Answer:

Marsha forests

Explanation:                                    

Planning refers to the method of focusing on the actions necessary to accomplish a specific goal. Achieving optimal outcomes was the first and paramount task. It requires designing and managing a strategy, including psychological factors that include analytical competencies.

Planning is essential for every business as it facilitates coordination, improves employees morals and helps the manage mt to operate as per the stated guidelines. Thus, every business whether small or large or whether working in stable or validate environment should do planning.

7 0
3 years ago
Specialization:
AysviL [449]

Answer:

Specialization can lead to an increase in overall production

Explanation:

We specializes in something we are skilled at and will become better at and so we will be able to produce more of that goods and services

8 0
3 years ago
Determine the order in which the following budgets are generally prepared.
xenn [34]

Answer:

The order in which the following budgets are generally prepared are as arranged below:

1. Sales budget

2. Production budget

3. Material purchases budget

4. Budgeted income statement

In an attempt to expatiate the decision above. We must observe that income statement starts with revenue. Similarly here, the budget will starts with sales. The revenue section is followed by production budget which from which various budgets like material, direct labor and overhead budget are prepared from. After the Production budget, follow the Material purchase budget, then Budgeted Income Statement

5 0
2 years ago
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