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3 years ago

Suppose we have the following information concerning the printed magazine and digital magazine subscription markets:

Business

1 answer:

Sidana [21]3 years ago

6 0

Answer:

Cross-price elasticity of demand between printed and digital magazine subscriptions is 8.91.

Explanation:

Percentage change in price of Printed Magazine Subscription = ((Printed Magazine Subscription Price1 - Printed Magazine Subscription Price0) / Printed Magazine Subscription Price0) * 100 = (($13.40 - $20) / $20) * 100 = -33%

Percentage change in quantity of Digital Magazine Subscription Quantity = ((Digital Magazine Subscription Quantity1 - Digital Magazine Subscription Quantity0) / Digital Magazine Subscription Quantity0) * 100 = ((208 - 216) / 216) * 100 = -3.7037037037037%

Cross-price elasticity of demand between printed and digital magazine subscriptions = Percentage change in price of Printed Magazine Subscription / Percentage change in quantity of Digital Magazine Subscription Quantity = -33% / -3.7037037037037% = 8.91

Note: The relationship between printed and digital magazine subscriptions is that they are substitutes because the cross-price elasticity between them is positive. That is, an increase in the price of printed digital magazine makes consumer to switch to and buy more of digital magazine which is a substitute.

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Using a cost chart, estimate the current purchased cost of a cast-steel centrifugal pump that requires 100 kW of power. What is

Levart [38]

Answer:

$94,500

Explanation:

Given the attached chart and table, we have

Purchased cost of cast-steel centrifugal pump that requires 100kw of power = $45,000

Cost if pump is made of 316 stainless steel = 2.1 * 45,000 = $94,500

Note: see the attached images.

Hope this helps!

5 0

3 years ago

A case study in the chapter analyzed purchasing-power parity for several countries using the price of Big Macs. Here are data fo

goblinko [34]

Answer:

Predicted exchange rate = Country price of Big Mac/ US price of Big Mac

Predicted exchange rate:

Chile = 2,050 / 4.37

= 469.11 Pesos / US dollar

Hungary = 830 / 4.37

= 189.93 Forints / USD

Czech Republic = 70 / 4.37

= 16.01 Korunas / USD

Brazil = 11.25 / 4.37

= 2.57 Real/ USD

Canada = 5.41 / 4.37

= 1.24C$/ US$

According to purchasing power parity, the predicted exchange rate between the Hungarian forint and the Canadian dollar is 153.42 Forint per C$. However, the actual exchange rate is 217 Forint per Canadian Dollar.

Predicted exchange rate = 830 / 5.41 = 153.42 Forint per C$

Actual Exchange rate = 217/1 = 217 Forint per C$

5 0

3 years ago

Depending on the style of the wedding gown dash– and the size of the bride dash– a wedding dress custom-designed and sewn in j

Step2247 [10]

These would be the variable costs. Since the dress uses up to a specified amount of each of these elements, the costs can vary depending on the size of the gown and the person wearing the gown. Variable costs, unlike those that are fixed, are able to change based upon outside factors.

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3 years ago

Famous Furniture Manufacturing Company reported the following information for 2019:

AfilCa [17]

Answer:

$255,500

Explanation:

Prepare a Cost of Goods Manufactured Schedule to determine the cost of goods manufactured.

Cost of Goods Manufactured Schedule

Direct material used $ 75,000

Direct labor $ 93,000

Applied manufacturing overhead $ 70,000

Add Beginning work-in-process inventory $130,000

Less Ending work-in-process inventory ($112,500)

Cost of goods manufactured $255,500

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3 years ago

Define the term business leadership

podryga [215]

Answer:

business leadership

is the capacity of a company's management to set and achieve challenging goals, take fast and decisive action when needed, outperform the competition, and inspire others to perform at the highest level they can.

Explanation:

4 0

4 years ago