I’m sorry if this is wrong but I’m pretty certain that the answer is true
The management of business procedures to achieve the best level of productivity within an organisation is known as operations management (OM). In order to increase an organization's profit, it is concerned with transforming resources like labour and materials into products and services as effectively as feasible.
Operations management is a branch of management that focuses on planning, organising, and redesigning the production process for goods or services as well as business operations.
Managing an organization's operations and processes is known as operations management. Supply chain management, product design, forecasting, quality control, and delivery management are a few of the tasks carried out by an operations manager.
Planning, arranging, and overseeing in the contexts of production, manufacturing, or the provision of services are the main concerns of operations management.
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Answer:
At the growth rate of 3% per year
Number of years taken to double the GDP = 23.33 years
The the GDP will double ( 23.33 - 20 ) 3.33 years earlier at 3.5% growth rate
Explanation:
According to the rule of 70
Number of years taken to double the GDP = 70 ÷ [ Growth rate ]
Thus,
At the growth rate of 3% per year
Number of years taken to double the GDP = 70 ÷ 3
= 23.33 years
Further
if the growth rate is 3.5% per year
Number of years taken to double the GDP = 70 ÷ 3.5
= 20 years
Hence,
The the GDP will double ( 23.33 - 20 ) 3.33 years earlier at 3.5% growth rate
Answer:
Option (b) is correct.
Explanation:
Given that,
Initial price of good A = $50
Initial quantity demanded of good A = 500 units
New price of good A = $70
New quantity demanded of good A = 400 units
Average quantity demanded:
= (New + Initial) ÷ 2
= (400 + 500) ÷ 2
= 450 units
Change in quantity demanded:
= New - Initial
= 400 units - 500 units
= -100 units
Average price level:
= (New + Initial) ÷ 2
= (70 + 50) ÷ 2
= $60
Change in price level:
= New - Initial
= $70 - $50
= $20
Therefore, the price elasticity of demand for good A is as follows:
= ![\frac{\frac{Change\ in\ quantity\ demanded}{Average\ quantity\ demanded} }{\frac{Change\ in\ price}{Average\ price\ level} }](https://tex.z-dn.net/?f=%5Cfrac%7B%5Cfrac%7BChange%5C%20in%5C%20quantity%5C%20demanded%7D%7BAverage%5C%20quantity%5C%20demanded%7D%20%7D%7B%5Cfrac%7BChange%5C%20in%5C%20price%7D%7BAverage%5C%20price%5C%20level%7D%20%7D)
= ![\frac{\frac{-100}{450} }{\frac{20}{60} }](https://tex.z-dn.net/?f=%5Cfrac%7B%5Cfrac%7B-100%7D%7B450%7D%20%7D%7B%5Cfrac%7B20%7D%7B60%7D%20%7D)
= ![\frac{-0.22}{0.33}](https://tex.z-dn.net/?f=%5Cfrac%7B-0.22%7D%7B0.33%7D)
= -0.67
Total revenue before price increase:
= quantity demanded of good A × price of good A
= 500 units × $50
= $25,000
Total revenue after price increase:
= quantity demanded of good A × price of good A
= 400 units × $70
= $28,000
Therefore, there is an increase in total revenue with increase in the price level.
Here is the answer that best completes the given statement above:
Since Jessica has been answering the buyer's queries regarding her sales and has received positive feedbacks, what Jessica should expect when she gets to the final close is that it would be a natural part of the dialogue.