Answer:
The correct answer is the option (C).
Explanation:
According to Timothy Walters, if price increases by $1 from $6 to $7 then quantity demanded will reduce from 1,200 units to 900 units.
This will lead to decrease in total revenue from (1,200 * $6) $7,200 to (900 * $7) $6,300.
According to Jack Mayers, if price increases by $1 from $6 to $7 then quantity demanded will reduce from 1,200 units to 950 units.
This will lead to decrease in total revenue from (1,200 * $6) $7,200 to (950 * $7) $6,650.
It can be seen that with increase in price, total revenue is decreasing in both cases. This happens when demand is elastic.
So,
Timothy and Jack will most likely to agree that the demand for good A is elastic.
Hence, the correct answer is the option (C).
Answer:
c) acceptable if the advertisement includes no preferential language
Explanation:
In the given case since it is mentioned that grocery store was attractive and he decided to stop the advertising of the property and begins the advertising on two distinct russian internet site so this would be acceptable in the case when the advertisement does not involve any kind of preferential language
Therefore the option c is correct
Answer:
Units sold= 63,465 units
Cost of goods sold= $114,237,000
Explanation:
Giving the following information:
Allyson manufactured 68,500 jet skis. Finished goods inventory had the following units:
January 1: 14,385
December 31: 19,420
First, we need to calculate the number of units sold:
Units sold= production of the period + beginning inventory - ending inventory
Units sold= 68,500 + 14,385 - 19,420= 63,465 units
Cost of goods sold= 63,465*1,800= $114,237,000
Answer:
The correct answer is letter "B": utilitarian approach.
Explanation:
The utilitarian approach is a corporate practice by which managers make benefit/costs decision attempting to maximize the benefits by minimizing the costs. This approach is implemented to safeguard stakeholders' investments which represents one of the main sources of income for the company to keep their operations up.
Explanation:
Business process can be defined as the series of interlinked activities starting right from making of a product to delivering that product to the customers. An organisation's success depends on its business processes that how effectively and efficiently they are performed to achieve business goals while remaining profitable.
Organisations takes some inputs, process them into final outputs. Inputs could be in the form of information, raw material etc, while outputs are the final products.
Managers needs to understand the process view because he should have complete knowledge of all the processes of an organisation. If they have this knowledge then they can easily evaluate, analyse, and modify the processes only and if they have deep insights about them.
For example: Manager working in KFC, should have knowledge about all the manufacturing, taking orders, serving customers and then taking feedback from them. Manager can only be effective if he has knowledge and he can understand and make them happen efficiently.
