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kirill115 [55]
3 years ago
14

A major state university in the South recently raised tuition by 12%. An economics professor at this university asked his studen

ts, Due to the increase in tuition, how many of you will transfer to another university? One student out of about 300 said that he or she would transfer. Based on this information, the price elasticity of demand for education at this university is:
A 1.B highly elastic.C 0.D highly inelastic.
Business
1 answer:
Nady [450]3 years ago
3 0

Answer:

Highly inelastic

Explanation:

Price elasticity of demand is a measure of the demand of a given service or commodity by utilizing it's price change. It can be calculated using the formula;

Price elasticity of demand=%change in quantity demanded/%change in price

%change in quantity demanded=((Final demand-Initial demand)/Initial demand)×100

((299-300)/300)×100=-0.33%

%change in price=12%

12%>0.33%

The change in price is larger than the change in demand, therefor the product is highly inelastic

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Jane learned that, although she and June were both hired as part-time salesclerks at the same time and have similar backgrounds,
sveta [45]

Answer:

Equity Theory

Explanation:

Based on the information provided within the question this seems to be a clear example of Equity Theory. This theory focuses on determining if the amount of a certain reward or payment that is divided among a set of individuals is fair, and is measured by comparing the contributions that are received by each individual or that set/group. Which seems to be the case in this scenario since June feels that it is unfair that they both do the same work and she is getting paid $1 less than her co-worker.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

6 0
3 years ago
Emily, while driving a car manufactured by Toyosan, suffered a side impact collision from another driver. Despite the fact that
solong [7]

Answer:

Toyosan's air bag was defective because it did not meet the expectations of a reasonable consumer.

Explanation:

Since the airbag was not as effective as it was expected by the customers, a suit against the car manufacturers from product liability may see the court conclude that the air bag was defective since it did not meet the expectations of a reasonable consumer which would have been protecting her head from hitting the steering wheel which still occured even tho the air bag was deployed.

7 0
3 years ago
Read 2 more answers
How can you differentiate between various economic systems that exist
liubo4ka [24]

Answer:

An economic system is defined by the way scarce resources are distributed in an economy.

There are 4 types of major economic systems which are following;

  1. A mixed economy is an economic system, like its name is a mix of elements of planned economies, free markets with intervention of the state and public enterprises.
  2. A command economy is a system where the government is key decision maker of what goods and services will be produced and introduced by the economy.
  3. A market economy is the one in which the investment, production and distribution are dictated by the forces of demand and supply.
  4. A traditional economic system is a result of customs, history and cultural norms which include the rules and manner of their distribution as well.
3 0
3 years ago
wist Corp. has a current accounts receivable balance of $330,800. Credit sales for the year just ended were $3,804,200. a. What
Alex17521 [72]

Answer:

Receivables turnover = 11.50 times

Days' sales in receivables = 31.74 days

Average collection period = 31.74 days

Explanation:

<u>Receivables Turnover Ratio</u>

Receivables turnover = Credit Sales / Receivables

                                    = $3,804,200 / $330,800

                                     = 11.50 times

Receivables turnover ratio measures how many times a company's receivables are converted to cash in a period. A high receivables turnover ratio can indicate that a company’s collection of accounts receivable is efficient and that the company has a high proportion of quality customers that pay their debts quickly.

<u>Days' sales in Receivables/ Average Collection Period</u>

Days' sales in receivables = 365 days / Receivables turnover

                                            = 365 / 11.50

                                            = 31.74 days

On average, credit customers took 31.74 days to pay off their accounts.

The days' sales in receivable ratio which is also known as the average collection period tells you the number of days it took on average to collect the company's accounts receivable during the past year.

6 0
2 years ago
Refer to Pure Training, Inc. If clients (the business owners) were asking for workshops to allow their customers to listen to au
Alexandra [31]

Answer:  Podcast

Explanation: In simple words, podcast refers to a digital audio file that is uploaded on the internet and can be easily downloaded  through a computer or mobile device.

A podcast is used for many purposes like for reading of novels or for educational seminars etc. Sometimes companies also use podcast for advertisements or promotional purposes when the target audience is low in volume and mass media mediums are of no use.

Hence from the above we can conclude that the correct option is B.

5 0
2 years ago
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