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3 years ago

What are the major determinants of price elasticity of demand?

Business

1 answer:

Greeley [361]3 years ago

5 0

Explanation:

The four factors that affect price elasticity of demand are

(1) availability of substitutes

(2) if the good is a luxury or a necessity

(3) the proportion of income spent on the good

(4) how much time has elapsed since the time the price changed.

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A production center is available for 8 hours per day in a factory. It is comprised of several rotary parts, and the worker opera

cricket20 [7]

Answer:

75%

Explanation:

Since the production center is available for 8 hours per day in a factory, and the worker operating it is required to lubricate these rotary parts once each day.

If it takes 2 hours to remove these parts from the equipment, lubricate them, and re-assemble them and the production center is not available for production during these times;

Then the availability of the production center is 75% which is derived by : [8 hours total - 2 hours downtime / 8 hours total availability] x 100 = 75%

8 0

3 years ago

Artigas Enterprises uses two materials in the production of its product. The materials, L and M, have the following standards: M

ella [17]

Answer:

Materials mix variance: $4,500

Explanation:

Materials mix variance = Actual input at individual standard materials costs – Actual input at weighted average of standard materials cost

Actual Input at individual standard material cost:

Material L: 15,000 units x $0.50 = $7,500

Material M: 10,000 units x $1.50 = $15,000

Total actual input at individual standard material cost: $22,500

Actual input at weighted average of standard materials cost:

Material Standard mix at standard unit price / Yield: $2,000 / 2,000 units = $1

Actual Input at standard material cost: 18,000 units x $1 = $18,000

Materials mix variance: $22,500 - $18,000 = $4,500

5 0

3 years ago

Caffeine Coffee Shops, Inc., sells franchises. Caffeine imposes on its franÂchiÂsees standards of operation and personnel trai

laila [671]

Answer:

Franchising is a marketing concept of business expansion.

Explanation:

There can be a potential danger or risk to the Caffeine Coffee Shops, Inc. if the shop tries to exercise much control over its franchisees. Imposing too much restrictions and control will lead the liability of the franchisor for the wrongful acts of the employees of the franchisee. The franchisee can even think of breaking the contract or the agreement and may put a clai against the franchisor.

The Caffeine Coffee Shop does not have any defenses, it can claim that the franchisee is trying to breach the agreement against the rules of the agreement. The Caffeine shops have limited liabilities and does not require any shareholder meetings, or board of directors or other management formalities.

Yes it is true that in the franchisee agreement, control as well as liability is to be addressed by framing the agreements and clauses in a manner that will define to what extent the franchisor can have control over the franchisee and what is the level of the liability of the franchisee.

8 0

2 years ago

Which is NOT a successful strategy to deal with debt?

chubhunter [2.5K]

Answer:

the answer is B

Explanation:

paying your dept with your credit card well just make more dept.

6 0

3 years ago

A pharmaceutical company announces that it has received Federal Drug Administration approval for a new allergy drug that complet

Black_prince [1.1K]

Answer:

B) The stock price will not change, because the market had already incorporated the information about the FDA approval announcement in the stock price.

Explanation:

As explained in the question, the stock market consensus has been that even after the new drug was released, the stock price, and the earnings per share of the pharmaceutical company will remain the same, therefore, there will no volatility.

3 0

3 years ago