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2 years ago

What is the difference between elastic and inelastic demand? Give 5 points?

Business

1 answer:

denpristay [2]2 years ago

5 0

Explanation:

Elastic demand means there is a substantial change in quantity demanded when another economic factor changes )

inelastic demand means that there is only a slight (or no change) in quantity demanded of the good or service when another economic factor is changed.

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Solve for the unknown number of years in each of the following (Do not round intermediate calculations and round your answers to

sammy [17]

Answer:

time t = 28.72 years

Explanation:

given data

Present Value = $21,500

Interest Rate = 11%

Future Value = $430,258

solution

we will apply here future value formula to find out time period that is express as

future value = present value × $(1+r)^{t}$ .....................1

put here value and we will get

$430,258 = $21,500 × $(1+0.11)^{t}$

20.012 = $(1.11)^{t}$

take ln both side

ln (20.012) = t × ln(1.11)

t = $\frac{2.9963}{0.1043}$

time t = 28.72 years

5 0

3 years ago

Communicating effectively, showing a sense of teamwork, and being a good negotiator are all ways to demonstrate which component

Alexxandr [17]

Communicating effectively, showing a sense of teamwork, and being a good negotiator are all ways to demonstrate which component of emotional intelligence? Social management. Possessing all of these qualities and attributes makes you stable in your workplace and overall life environment. Having control of how you act in situations and having good emotional intelligence allows for growth and understanding overtime. Emotional intelligence is defined as being aware and in control of your emotions to successfully and appropriately handle how you feel and act/react in certain situations.

7 0

3 years ago

"In the __________ strategy, you can manipulate _________ to match supply and demand. a. Chase; inventory level b. Chase; invent

makkiz [27]

Answer:

a. Chase; inventory level

Explanation:

Chase Strategy is one of the two aggregate planning methods where the production is set according to demand forecasts. Hence in this type of aggregate planning, the inventory level may be increased for a certain duration to cater for higher demands while it can also be lowered through low production for low forecasts. Hence Inventory level may be manipulated to match supply and demand.

7 0

3 years ago

Read 2 more answers

Refer to the financial statements of Burnaby Mountain Trading Company. The firm's asset turnover ratio for 2017 is _________. (P

Aleonysh [2.5K]

Answer:

1.69

Explanation:

asset turnover ratio = net sales / average assets

I looked up the missing information and found the following:

total assets year 1 = $4,000,000

total assets year 2 = $4,300,000

net sales year 2 = $7,000,000

average assets = ($4,000,000 + $4,300,000) / 2 = $4,150,000

asset turnover ratio = $7,000,000 / $4,150,000 = 1.6867 = 1.69

The higher the asset turnover ratio, the more efficient a company is. Therefore, a higher asset turnover ratio is always better although there is no fixed parameter.

7 0

3 years ago

Contribution Income Statement and Cost-Volume-Profit Graph Kopi Company produces dog cages that are sold for $38 per unit. The c

Marrrta [24]

Answer:

Results are below.

Explanation:

First, we need to calculate the total unitary variable cost:

Direct materials= 10

Manufacturing overhead= 5

Direct labor= 2

Selling and administrative= 5

Total unitary variable cost= $22

Now, the contribution margin income statement:

Sales= 5,000*38= 190,000

Total variable cost= 22*5,000= (110,000)

Total contribution margin= 80,000

Fixed Manufacturing overhead= (35,000)

Fixed Selling and administrative= (15,000)

Net operating income= 30,000

7 0

3 years ago