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vlabodo [156]
3 years ago
6

joye owns a shoe store in a neighborhood with other shoe stores. Demand for the products he sells is probably ​

Business
1 answer:
Serjik [45]3 years ago
6 0

Answer:

Demand for products sold at a store in a neighborhood with other stores is probably elastic

Explanation:

A demand is considered as 'Elastic' if a change in price of the product would strongly affect the quantity of the demand.

Competitors who offer similar products than your organization tend to reduce the amount of demand that come to your store. Existence of competitors give the consumers the options to choose and move around in order to seek the best offers that they can.

As a result, the shoe stores in Joey's neighborhood will have to constantly adjust their price in order to make their products seems appealing compared to the rest of the competitors. This make the demand in Joye's store keep fluctuating depending on the performance of other competitors.

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If the hourly wage of German workers is $6, the hourly wage of Canadian workers is $10, and German workers produce half as much
inessss [21]

Answer:

D) Canada since the cost per unit of output will be lower.

Explanation:

A German worker earns $6 per hour with a X productivity, we can assume X = 10 units, so the labor cost in Germany = $6 / 10 units = $0.60 per unit

A Canadian worker earns $10 per hour with a 2X productivity, we can assume X = 10 units, so the labor cost in Canada = $10 / 20 units = $0.50 per unit

Canadian direct labor is 20% more efficient than German labor.

6 0
3 years ago
Larry is considering two investment strategies. The first strategy involves putting all of his available funds in Project X. If
lesya692 [45]

Answer: $6,400

Explanation:

The expected return is simply a weighted average of the different returns given their probability of happening.

If everything was invested in Project X, there is a 70% chance of success and 30% of failure. Payoff is $10,000 if successful and $2,000 if unsuccessful:

= (70% * 10,000) + ( 30% * -2,000)

= 7,000 - 600

= $6,400

3 0
3 years ago
What is the movement of an economy from one condition to another and back again
pav-90 [236]

The business cycle is the movement of an economy from one condition to another and back again. The business cycle is also known as the economic cycle or trade cycle. This cycle represents the movement of resources from one end and their comeback at the same end after revolving. It can be understood as a businessman invests money in the business in the form of costs and the money comes back in the form of revenue or sales.


Hence the answer is the <u>Economic cycle</u>


3 0
3 years ago
A company manufactures and sells blank audio cassette tapes. the weekly fixed cost is $4,000 ad it costs $1.00 to produce each t
masya89 [10]
The number of tapes that should be produced and sold that will let the company have profit is 1 unit higher than the breakeven point. Breakeven happens when the total cost and total revenue is equal. 

Total cost is equal to the sum of the fixed cost and the variable cost which is equal to,

   TC = 4000 + x

where x is the number of units. The breakeven equation is,

    4000 + x = 5x

Simplifying the equation will give us,
     4x = 4000

    x = 1000

The value of x from the equation is 1000. 

Hence, the company should manufacture more than 1000 for them to have profit. 
6 0
3 years ago
Felix Incorporated has just exchanged 1,250 shares of $65 par-value preferred stock for a parcel of land advertised for a price
Anna11 [10]

Answer:

Dr Land account 90,000

Cr Preferred Stock account 81,250

Cr Paid-in Capital in Excess of Par Value - Preferred Stock account 8,750

Explanation:

When preferred stock is sold, the transaction must be recorded at par value in the preferred stock account. Any amount of money received over par value, must be recorded in the paid-in capital in excess of par value - preferred stock account.

7 0
4 years ago
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