1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Juliette [100K]
3 years ago
15

Suppose the elasticity of demand for your parking lot spaces, which are located in a downtown business district, is –1.8, and th

e price of parking is $11 per day. Additionally, suppose that your MC is zero, and your capacity has been 80% full at 9 AM each day over the last month.Since demand is ( ELASTIC, INELASTIC, OR UNIT ELASTIC) , and the lot is below capacity, (INCREASED, DECREASED, OR UNCHANGED) is the optimal pricing strategy.
Business
1 answer:
Ipatiy [6.2K]3 years ago
4 0

Answer:

Elastic

DECREASED

Explanation:

The price elasticity is elastic. Demand is price elastic if the absolute value of coefficient of elasticity is greater than 1.

When demand is elastic, it means that quantity demanded is sensitive to changes in price. A small change in price would lead to a greater change in quantity demanded.

Because the parking lot has been operating below its full capacity and marginal cost is zero, the optimal strategy is to reduce price so that quantity demanded would increase.

I hope my answer helps you

You might be interested in
Given your understanding of cash flow, financial statements, ratio analysis and time value of money, provide an example of why t
Alla [95]

Answer:

The best example I can think of that would integrate all of these concepts is when a business is looking to finance some sort of project and they are seeking financing either through the issuance of bonds or a loan from a bank. Some of the concepts would be important to both parties, while others would be more important to one than the other.

Cash Flow

This would be important to both parties. The business, to make sure they have enough cash flow to pay for the financing. And the financiers, for the same reason.

Ratio Analysis

This would be important to both parties for the same reason as above. Especially the "current ratio" (current assets / current liabilities) and the "working capital" ratio (current assets - current liabilities).

Financial Statements

This would be of most importance to the financiers. They would want to see the total picture of a company's financial strength.

Time Value of Money

This would be of most importance to the company itself. They would want to know if the project was worth the total amount they would be paying on the bonds or the loan

5 0
3 years ago
An investment adviser representative is also a commisioned representative at a brokerage firm. the iar has developed an asset al
Zolol [24]

Answer:

The options include:

[A] cannot implement the plan

<em>[B] can implement the plan </em>

[C] can implement the plan only if no commissions are charged

[D] can implement the plan only if no management fee is charged

<em>[B] can implement the plan  is Correct</em>

Explanation:

Because the client or consumer has been fully disclosed and he agrees that the Adviser / Representative will obtain a management fee and commissions the Advisor / Representative will be allowed to progress with the project.

5 0
3 years ago
In the disaster recovery plan, each response should detail the use of resources and assign only those resources needed to ______
oksano4ka [1.4K]

In the disaster recovery plan, each response should detail the use of resources and assign only those needed to <u>Fix</u> the problem.

The definition of aid is something that is prepared to apply if or whilst it's far wanted. An instance of a resource is extra cash in a financial savings account. An example of a helpful resource is a chum with electrical capabilities who has volunteered to help install a lights fixture. An instance of a helpful resource is spring water on a chunk of land.

An aid is something that can be used for making profits or benefits, whether or not that be a supply, delivery, or aid. Assets are regularly herbal sources of wealth or functions to enhance the quality of life.

Resource refers to all the substances available in our environment which might be technologically on hand, economically feasible, and culturally sustainable and help us to fulfill our wants and needs.

Learn more about the Resource here brainly.com/question/1290230

#SPJ4

5 0
1 year ago
Alexa, a manager, has several years of experience in engineering technologies, and holds many professional licenses. new enginee
Andreas93 [3]
The answer to the question of what kind of power Alexa needs is the expert's power.  She has been a manager for a long time, and many experiences have come her way, so if the new engineers in the firm frequently look to her for instruction and advice, she must be confident and expert.
5 0
3 years ago
What is it called when a private landowner signs a contact agreeing that their land will not be developed?
Bas_tet [7]
<span>#1) What is it called when a private landowner signs a contact agreeing that their land will not be developed?

Answer: It is called a conservation easement. This is a legal agreement that protects privately owned forests or other properties from development for a specified number of years.

<span>I hope it helps, Regards. </span></span>
6 0
3 years ago
Other questions:
  • Kanye Company is evaluating the purchase of a rebuilt spot-welding machine to be used in the manufacture of a new product. The m
    6·1 answer
  • It is time to give performance appraisals to your employees. your office is small and you share it with your administrative cler
    8·1 answer
  • Entries for Materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost
    5·1 answer
  • Chow is unmotivated, feels worthless, sleeps all the time, and does not get out of bed for days at a time. he has not been to wo
    15·1 answer
  • Bases of business or organizational market segmentation that center on the customer attributes are categorized as: Group of answ
    5·1 answer
  • The primary role of a functional strategy is to unify the company's various operating-level strategies. specify how to build and
    8·1 answer
  • Vì sao thị trường tự do tốt cho người tiêu dùng?
    10·1 answer
  • What is business ?please explain about it​
    6·1 answer
  • Stanley's Bicycles store buys bicycles on average for $600 and sells them on average for $750. He pays a sales commission of 15%
    11·1 answer
  • A. decide tenure of the loan
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!