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TEA [102]
2 years ago
10

John was ordering orange cones to use for soccer drills during practices. If John decided to purchase cones now, he would buy 10

sets at $5 per set. If he decided to purchase the cones at a later time when the demand decreased, he would purchase 14 sets at $3 per set. Using the mid-point formula, the own-price elasticity of the soccer cones is __________.
Business
1 answer:
FrozenT [24]2 years ago
5 0

The own-price elasticity of the soccer cones is -0.67

The computation of the own-price elasticity of the soccer cones is as follows:

We know that

The Elasticity of demand is

= (change in quantity ÷ average quantity) ÷ (change in price ÷ average price)

Here

Change in quantity = 14 - 10 = 4

average quantity = (14 + 10) ÷ 2 = 12

change in price = 3 - 5 = -2

average price = (3 + 5) ÷ 2 = 4

So,

The Elasticity of demand is

= (4 ÷ 12) ÷ (-2 ÷ 4)

= -0.67

Therefore we can conclude that the own-price elasticity of the soccer cones is -0.67

Learn more about the price elasticity of demand here: brainly.com/question/15313354

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solmaris [256]

Answer:

1. $3375

$3375

2. $4347

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3 $7300

$5475

Explanation:

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

( $29,200  - $2,200,) / 8 =  $3375

depreciation expense each year is  $3375

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life)  = 2/8 = 0.25

2020 = 0.25 x 29200 = 7300

2021 = 0.25x( 29200 - 7300)

Activity method based on output = (output produced that year / total output of the machine) x (Cost of asset - Salvage value)

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C. Complete control of a product or service
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pickupchik [31]

The expectation of the Tatum Manufacturing firm from the Hong Kong government is to <u>ensure fair competition </u>with its competitors.

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The finished goods could be sold:

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The role of the Hong Kong government to Tatum Manufacturing Firm in as much they comply with the government regulations and taxes is for the government to ensure that there is fair competition for Tatum Firm with its competitors.

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mrs_skeptik [129]

Answer:

Please see attached solution

Explanation:

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c. Fixed manufacturing overhead spending variance $17,600U

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Please find attached detailed solution to the above questions

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3 years ago
what is the level of interdependence among departments (finance, marketing) in a business school? what kinds of coordination mec
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#SPJ4

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