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hodyreva [135]
3 years ago
9

You are buying and reselling items found at your local thrift shop. You found an antique pitcher for sale. If you need a 27% mar

kup on cost and know most people will not pay more than $22 for it, what is the most you can pay for the pitcher? (Round your answer to the nearest cent.)
Business
1 answer:
GrogVix [38]3 years ago
7 0

Answer:

The most you can pay for the pitcher is $17.32

Explanation:

A mark up is a percentage that is always applied on the cost to come up at a required gain over cost. The cost is always taken to be 100% when apply a mark up on cost.

If the mark up is of 27% and cost is 100% then a selling price of 22 will be equal to cost + markup.

Let cost be x.

Selling price = Cost + Mark up

22 = 100% * x + 27% * x

22 = 1x + 0.27x

22 = 1.27 x

22/1.27 = x

x = $17.3228 rounded off to $17.32

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4 0
3 years ago
Explain how each of the following events changes the demand for or supply of jeans. A. Upper A new technology becomes available
Dima020 [189]

Answer:

A. Where a new technology that reduces the time it takes to manufacture a pair of jeans is available, it will leads to a change in supply. For example if a new machine is invented which decreases output per unit of time, there will decrease in the supply of a pair of jeans.

B. Where the price of the cloth (denim) used to make jeans rises, it will affect the change in the supply of jeans because an increase in the price of the raw materials used (denim) in making jeans, it will lead to a reduction in supply.

C. Where Jeans go out of fashion, it will cause a change in demand or supply because taste changes over time. For example, if jeans go out of fashion there would be a decrease in demand and supply for it.

D. Where the price of a pair of jeans falls, it will not affect the change in demand or supply of the jeans because a change in the price of a commodity is not a factor that causes a change in demand or supply.

E. Where the wage rate paid to garment workers falls, it will affect the change in the supply of jeans but will not affect the change in demand for jeans.

F. Where many jeans producers go out of business, it will affect the change in the supply of jeans but will not affect the change in demand for jeans.

H. Where people's incomes increase, it will affect the change in demand that leads to increase in demand for a pair of jeans

Explanation:

Causes of changes in demand and supply

Demand refers to the quantity of a commodity which consumers are willing and able to purchase at a particular price and at a particular period of time.

The Law of demand sates that 1) the higher the price of a commodity, the lower the quantity demanded, and  2) the lower the price of a commodity, the higher the quantity demanded.

The Change in demand (shift in the demand curve): There is a change in demand if the demand curve shifts to an entirely new position. A change in demand is determined by the factors affecting demand, other than price in a commodity. Factors affecting change in demand include changes in taste, fashion, population size, and income. 

The Supply of a commodity is the quantity of that commodity which sellers are willing and able to offer for sale at a particular price, at a particular period of time.

The Law of supply states that the higher the price of a commodity, the higher the quantity supplied while the lower the price of a commodity, the lower the quantity supplied.

The Change in supply (shift in the supply curve): There is a change in supply if the supply curve shifts to an entirely new position. A change in supply is determined by the factors affecting supply, other than price in a commodity. Factors affecting supply include Technological development, weather and climate, government policies/effects of subsidies and taxation, a new source of raw materials. A change in supply could be a decrease or increase in supply of a commodity. 

8 0
3 years ago
Burton Corp. is growing quickly. Dividends are expected to grow at a rate of 29 percent for the next three years, with the growt
maw [93]

Answer:

The Current share price is $94.79

Explanation:

Dividend Growth Model determines the share price of a company which offers perpetual dividend with stable growth. It is the expected dividend of a share divided by the net return rate of growth rate .

According to given data

Last dividend = D0 = $3.40

Rate of return = 15%

Growth rates:

For 3 years = 29% per year

After 3 years = 7.3% in perpetuity

Dividend after 3 years = D3 = 3.40 x ( 1 + 0.29 )^3 = $7.30

We can calculate the price of share using following formula:

Price of share = D3 / Rate of return - Growth rate

Price of share = $7.30 / 15% - 7.3% = $7.30 / 7.70% = $94.79

4 0
3 years ago
What are the 3 psychological states reviewed in class that may improve engagement in the workplace?
Masteriza [31]

Answer:

Experienced meaningfulness: This is a positive psychological state that will be achieved if the first three job dimensions—skill variety, task identity, and task significance—are in place. All three dimensions help employees feel that what they do is meaningful.

3 0
2 years ago
A property is assessed at $39,000. The local municipality has an equalization rate of 5%. What is the market value of the proper
earnstyle [38]

Answer:

$780,000

Explanation:

Calculation for the market value of the property

Using this formula

Market Value=Assessed property/Equalization rate

Let plug in the formula

Market Value=$39,000/0.05

Market Value=$780,000

Therefore the market value of the property will be $780,000

6 0
2 years ago
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