Answer:
"An entrepreneurial team is a group composed of the entrepreneur plus the firm's banker, CPA, and attorney."
Explanation:
An entrepreneurial team usually consists of 2 or more people with a great interest in the success and future of a company. The work of this team is interdependent as they pursue common goals for success for the venture. They are usually interested in the financial and other areas of a company and include the entrepreneur, the CPA, attorney, and the organization's banker.
Answer:
-1.33
Explanation:
Cross price elasticity of demand measures the responsiveness of quantity demanded of good X to changes in price of good Y.
Cross price elasticity of demand = percentage change in quantity demanded of good X / percentage change in price of good Y
Percentage change in quantity demanded = (1700 / 1350) - 1 = 0.2593 = 25.93%
Percentage change in price = (1.65 / 2.05) - 1 = -0.1951 = -19.51%
25.93% / -19.51% = -1.33
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Answer:
The break even in dollars is $23000000
Explanation:
The break even point in dollars is the amount of revenue which produces no profit or no loss and where total revenue equals total cost. The break even in dollars is calculated by dividing the fixed cost by the weighted average contribution margin ratio.
Break even in dollars = Fixed costs / Weighted average contribution margin ratio
Weighted average contribution margin ratio is the contribution margin ratio of each products multiplied by the products weight in the sales mix.
Weighted average contribution margin ratio = Weight in sales mix of Product A * contribution margin ratio of product A + Weight in sales mix of Product B * Contribution margin ratio of Product B
Weighted average contribution margin ratio = 0.65 * 0.3 + 0.35 * 0.5 = 0.37
Break even in dollars = 8510000 / 0.37
Break even in dollars = $23000000