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Mariulka [41]
3 years ago
8

The price elasticity of demand (based on the midpoint formula) when price increases from $10 to $12 is:______

Business
1 answer:
aliina [53]3 years ago
8 0

Answer:

the price elasticity of demand is 1

Explanation:

The price elasticity of the demand using mid point formula is as follows:

Price elasticity of the demand is

= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of quantity demanded)  

where,  

Change in quantity demanded is

= Q2 - Q1

= 36 - 30

= 6

And, average of quantity demanded is

= (36 + 30) ÷ 2

= 33

Change in price is

= P2 - P1

= $12 - $10

= $2

And, the average of price is

= ($12 + $10) ÷ 2

= 11

So, the price elasticity of demand is 1

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Hadley Corporation, which has only one product, has provided the following data concerning its most recent month of operations:
Tom [10]

Answer:

$76,260

Explanation:

Calculation to determine the total period cost for the month under variable costing

Using this formula

Total Period cost = Variable selling and administrative cost + Fixed manufacturing overhead + Fixed selling and administrative cost

Let plug in the formula

Total Period cost = ($14 × 1,760) + $18,180 + $33,440

Total Period cost =$24,640+$18,180 + $33,440

Total Period cost =$76,260

Therefore the total period cost for the month under variable costing is $76,260

8 0
2 years ago
Joyce works hard and puts in many extra hours. For this, she can anticipate a pay raise, a promotion, or an expanded sales terri
Alex17521 [72]

Answer:

Expectancy theory

Explanation:

Expectancy theory states that when an individual is faced with different choices they will be motivated in a certain way in choosing a particular option based on what they expect to be the result of the choice.

So behaviour is affected by perceived result or consequence of a particular choice.

In the given scenario Joyce works hard and puts in many extra hours, and getting a promotion is most important to Joyce.

So because of her expectations that manager must recognise that:

(1) she is putting in hard work and long hours to obtain a promotion,

(2) what motivates Joyce will change over time (if she does not get the promotion), and

(3) he must clearly show Joyce how to attain the desirable reward.

7 0
3 years ago
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Anon25 [30]

Answer:

Subcultural

Explanation:

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A society is composed of several sub-cultures in which iindividuals can identify themselves. A Subculture is a group of people within a culture who are different from the dominant culture but have something in common with one another such as common interests, religions, ethnic backgrounds.

Culture is considered an external factor that influences consumer behavior. Since different cultures have different values, they will have different buying habits. A typical example is the Jewish people that purchase about 63% of bagels that is sold in New York City.

7 0
3 years ago
Splish Corporation has retained earnings of $707,000 at January 1, 2020. Net income during 2020 was $1,428,500, and cash dividen
BartSMP [9]

Answer:

Explanation:

Statement of retained earning represent the changes in retained earning balance during the year and accumulated beginning balance of the period and Ending balance as well. It deals with all the adjustment in retained earning like net income transfer  fro the year, dividend paid during the year etc.

                    Splish Corporation

           Retained Earning Statement

  for the year ended December 31, 2020

                                                                          $

Retained Earning at January 1, 2020           707,000

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5 0
2 years ago
As the interest rate __________, the quantity supplied of money __________ and the quantity demanded of money __________. Group
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rises,remains unchanged,rises

6 0
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