One of the negative effects of making this pricing decision is that it will brings about a negative impact on consumers' perception of quality. Generally, consumers believe that a lower price for a particular commodity means a lower quality, people tend to associate higher prices with high qualities.
Answer:
$59,080
Explanation:
The calculation of September cash disbursements is shown below:-
September cash disbursement = Company's budgeted fixed manufacturing overhead - Depreciation + Variable manufacturing overhead
= $43,120 - $3,640 + $7.00 × 2,800
= $43,120 - $3,640 + $19,600
= $62,720 - $3,640
= $59,080
Therefore for computing the September cash disbursement we simply applied the above formula.
Answer:
Explanation:
a. QXd = 1,200 – 3PX – 0.1PZ
Pz = $300 and Px = $140, plugging the values, we get,
Qx = 1200 – 3*140 – 0.1*300.
Qx = 750 units.
Elasticity of demand = \deltaQx/\deltaPx * Px/Qx.
\deltaQx/\deltaPx = -3.
E = -3 * 140/750.
E = -0.56
The elasticity of demand is INELASTIC because the absolute value of elasticity is less than one. If the firm charges a price below $140it might lose out in revenue because the percentage change in demand is less than the price.
b. Px = $240, substituting this into the equation we get
Qx = 1200 – 3*240 – 0.1*300
Qx = 450 units.
E = -3 * 240/450.
E = -1.6
The demand is elastic because the absolute value is less than one. If the firm charges a price above $240 it might lose out on its revenue because the percent change in demand is more than the price.
c. Cross price elasticity of demand Es = \deltaQx/\deltaPz * Pz/Qx.
\deltaQx/\deltaPz = -0.1
Es = -0.1 * 300/750.
Es = -0.04
The goods are complements of each other. As the price of one increases, the demand for other would fall, and vice-versa is true.
Answer:
1. Self-assessment
Explanation:
Career Management process is conscious planning of one's activities & engagements in jobs, for better financial & psychological fulfilment.
It has 5 important steps : Self Assessment, Reality Check, Goal Setting, Action Planning.
Self Assessment Stage involves gathering information from employees; to determine their career interests, values, aptitudes & behavioural tendencies. This stage often involves psychological tests of the employees, to evaluate profession or job profiles suitable to their personality types. Eg : MBTI test is an introspective self report psychological test; depicting people's preferences, worldly perceptions, decision making. SCII test is a career counselling tool, used to analyse candidate compatible career.
Answer:
e) Self-determination Theory
Explanation:
When People prefer to feel they have control over their actions and anything that makes a previously enjoyed task feel more like an obligation than a freely chosen activity will undermine motivation is termed as self-determination theory. It is a macro theory which was emerged in 1970s from intrinsic and extrinsic motives study. It is related to human personality and motivation which focuses on human's need for growth. It proposes that human beings are encouraged and motivated to grow by 3 psychological and innate needs which need for connection, competence and autonomy.