3. (01.02 MC)

Why do marketers want to see and understand demand curves?

Bad White [126]

<span>The demand curve is based on the price of an item and the amount that people are willing to pay for it. Marketers want to see this, because it helps them figure out how to advertise to the public and what the public wants. This can be useful in pricing items so that they are lower than that of the competitors.</span>

7 0

3 years ago

In a survey of a group of people, it was found that 60 0f them have

GalinKa [24]

Answer:

i) 15 ii) 177

Explanation:

Number of people with business = 60

Number of people with farming = 125

Number of people with government jobs = 45

Number of people with business only = 27

Number of people with government jobs only = 15

10 have business and government job only, 5 have government job and farming only.

i) Let x represent the number of people with all three jobs. Hence:

Number of people with government jobs = number of people with all three jobs + number of people with government and farming job + number of people with government and business + number of people with government job only

45 = x + 10 + 5 + 15

45 = x + 30

x = 15

15 people have all three profession.

ii)

Number of people with business jobs = number of people with all three jobs + number of people with business and farming job + number of people with government and business + number of people with business job only

60 = 15 + number of people with business and farming job + 10 + 27

number of people with business and farming job = 60 - 52 = 8

Number of people with farming jobs = number of people with all three jobs + number of people with business and farming job + number of people with government and farming + number of people with farming job only

125 = 15 + 8 + 5 + number of people with farming job only

number of people with farming job only = 125 - 28 = 97

Number of people surveyed = number of people with all three jobs + number of people with business and farming job + number of people with government and farming + number of people with farming job only + number of people with government and business + number of people with business job only + number of people with government job only

Number of people surveyed = 15 + 8 + 5 + 97 + 10 + 27 + 15

Number of people surveyed = 177

3 0

2 years ago

If the price of a product is increase. What is the effect of change in price on the quantity demand & supply curve to illust

Artemon [7]

Answer:

Increased prices typically result in lower demand, and demand increases generally lead to increased supply. However, the supply of different products responds to demand differently, with some products' demand being less sensitive to prices than others.

4 0

2 years ago

A company purchases and uses 40000 gallons of materials for which they paid $3 a gallon. The materials price variance was $90000

iogann1982 [59]

Answer:

the standard price per gallon is $5.25

Explanation:

the computation of the standard price per gallon is given below;

Materials Price Variance = Actual Quantity × (Standard Price - Actual Price)

$90,000 = 40,000 × (Standard Price - $3)

$2.25 = Standard Price - $3

Standard Price = $5.25

Hence, the standard price per gallon is $5.25

The same should be considered

4 0

2 years ago

Which of the following statements best describes the attitudes of an old-style manager?Most people wish to avoid responsibility,

Shkiper50 [21]

Answer:

The correct answer is: Most people wish to avoid responsibility, have little ambition, and want security.

Explanation:

This type of management thinking responds to the early theories of management, more especially to the classical theories of organization. These theories were devoted to the superior's authority, objectives, rules and, economic activities. They organized men and materials for achieving objectives for their benefits, characterized by a large and complex atmosphere with impersonal detachment from human resources.

The motivation of workers were purely by bonus and monetary benefits. The general idea was that workers were inspired to perform the job if they are paid according to their contributions. Workers are considered economic beings. Man was considered a rational and not an emotional being. It assumes that man wants only money, and this assumption provides the maximum opportunity to exploit employees. The idea that people avoid responsibility is due to the hierarchy and chain of command, the responsibility of the work rests on the superior.

8 0

3 years ago