Answer:
2.2
Explanation:
The formula for calculating price elasticity using the midpoint method is:
midpoint method = {(Q2 - Q1) / [(Q2 + Q1) / 2]} / {(P2 - P1) / [(P2 + P1) / 2]}
midpoint method = {(150 - 100) / [(150 + 100) / 2]} / {(1.20 - 1) / [(1.20 + 1) / 2]}
midpoint method = [50 / (250 / 2)] / [0.20 / (2.20 / 2)] = (50 / 125) / (0.20 / 1.1)
midpoint method = 0.4 / 0.19 = 2.2
The advantage of using the midpoint method to calculate price elasticity is that we can calculate the price elasticity between two points, and it doesn't matter if the price increases or decreases.
If we calculate price elasticity using the single point formula:
price elasticity = % change in quantity supplied / % change in price = 50% / 20% = 2.5
Answer:
A company purchases inventory on credit.
Explanation:
Current liabilities are those that have to be settled within the fiscal year. The statement above does not specify if the credit has to be paid within the fiscal year, but most likely it has to, because inventories do not usually represent a long-term debt.
So under this sceneario, purchasing inventory on credit would represent an increase in the current liabilities of the firm.
Defined by Miles as "a requirement of the activities of one subunit that is affected by the activities of other subunits" is a <u>contingency</u>.
According to the contingency theory of management, situational circumstances can have an impact on the relationships between dependent and independent variables at work, which will have an effect on employee behavior, effectiveness, and behavior at work in general. Also known as the situational approach to management, this idea.
It is crucial to take into account the particular contingency factors that apply to each business in order to assess organizational data effectively and increase employee engagement. A need for one component's operations that affects those of another subunit is known as a contingency.
The above question is incorrect, the correct question is:
Defined by Miles as "a requirement of the activities of one subunit that is affected by the activities of other subunits" is a _________.
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