Answer:
10% increase in Cigarette price with a 2% decrease in quantity demanded:
This implies that "for the addicted smokers, cigarettes have a" demand that is inelastic. The demand curve is said to be inelastic.
Explanation:
If the demand for an item changes proportionately less than the price changes, then the item is said to be price inelastic. This means that an increase in price does not change the demand for the product in equal proportion to the price increase. In our example, the demand curve for cigarettes is inelastic since a price increase of 10 percent only decreases the quantity demanded by 2 percent.
Answer:
Annual depreciation= 17,050
Explanation:
Giving the following information:
Purchase price= 69,200
Useful life= 4
Salvage value= 1,000
To calculate the depreciation expense under the straight-line method, we need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (69,200 - 1,000)/4
Annual depreciation= 17,050
Answer:
C. strategic, third-party logistics, warehousing, transportation, and location.
Explanation:
A logistics manager is an individual who is saddled with the responsibility of the entire or overall supply chain management of goods produced by an organization. They are usually responsible for the distribution and supply of goods through out the manufacturing and finished process of delivering to final consumers.
The five major decisions addressed by logistics managers are
1. Strategic.
2. Third-party logistics.
3. Warehousing.
4. Transportation.
5. Location.
Answer:
Political and Legal
Explanation:
Hoffman-LaRoche Ltd. and BASF AG, two international pharmaceutical companies, were ordered to pay $725 million in fines for plotting to raise and fix prices of vitamins used in virtually every home in the U.S. This is an example of how <u>political and legal</u> forces affect the marketing environment.
Business organisations operate within a political system and legal framework. Political factors determine economic policies like taxation and regulations. Business decisions are subject to, and are affected by political and legal factors.
Governments formulate a series of legislations to monitor business activities and protect consumer and social interests.
Such laws would either create new opportunities or threats for the businesses in existence.
In the Scenario above Hoffman-LaRoche and BASF AG must have violated regulations that protect consumer interests put in place by the government by wanting consumers to pay too high for such necessities as vitamins and huge fines have been imposed on them.
Answer:
$7.50 per direct labor hour
Explanation:
Calculation for the predetermined overhead allocation rate
Using this formula
Predetermined overhead allocation rate = Factory overhead/Direct labor hours
Let plug in the formula
Predetermined overhead allocation rate = $1,500,000/200,000 hours
Predetermined overhead allocation rate = $7.50 per direct labor hour
Therefore the predetermined overhead allocation rate is $7.50 per direct labor hour
