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larisa [96]
2 years ago
15

Freeze Ice Cream Shop sells its specialty shakes for $3.50 each. In the summer months, the shop typically sells 200 shakes a day

. The shop's owner thinks if he reduces the price to $3 he will increase sales significantly. However, when he reduced the price, he only sold about 15 more shakes per day. This represents demand that is :___________
Business
1 answer:
mamaluj [8]2 years ago
5 0

As a result of the demand increasing only slightly compared to the reduction in price, the demand must be <u>inelastic</u>.

<h3>Why is the demand inelastic?</h3><h3 />

The demand is considered to be inelastic if the price elasticity is less than 1.

The price elasticity is:

= (%Change in quantity/% Change in price)

Solving gives:

= 15 / 200 ÷ 0.50 / 3.50

= -0.525

In conclusion, the demand for the shakes is inelastic.

Find out more on inelastic demand at brainly.com/question/1899986.

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__________ is a view of the self as able to master skills and complete tasks.
SSSSS [86.1K]

Self efficacy is a view of the self as able to master skills and complete tasks.

More about Self efficacy:

Self-efficacy is the conviction that one can succeed in a specific circumstance. These beliefs, according to psychologist Albert Bandura, determine how people feel, act, and think.

In addition to how you feel about yourself, self-efficacy might influence whether or not you reach your life's objectives.  Albert Bandura's social cognitive theory, which emphasises the significance of observational learning, social experience, and reciprocal determinism in building a personality, is centred on the idea of self-efficacy.

Learn more about self efficacy here:

brainly.com/question/28215515

#SPJ4

3 0
2 years ago
The settling of any net deficit in the combined current, and capital and financial accounts is done with
MatroZZZ [7]

Answer: official reserves

Explanation:

The official reserve account is simply part of capital account which has to do with securities and foreign currency that are being held by the central bank of a particular country and which are used to balance payments yearly.

It should be noted that when there's trade surplus, there'll be increase in reserves and when there is a deficit in trade, there'll be decrease in reserves.

4 0
3 years ago
Given the following data for Coronado Industries, compute cost of goods manufactured: Direct materials used $120000 Beginning wo
Natasha2012 [34]

Answer:

cost of goods manufactured= $490,000

Explanation:

<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 20,000 + 120,000 + 190,000 + 170,000 - 10,000

cost of goods manufactured= $490,000

6 0
3 years ago
An industry comprised of a very large number of sellers producing a standardized product is known as:
mash [69]

Answer:

The appropriate response is "Pure competition".

Explanation:

  • Pure competition seems to be an economically efficient circumstance where there is already a massive quantity of international customers and retailers as well as the manufacturer would be ready for deployment.
  • Even though both a significant quantity of products as well as extremely similar or defined consumer items seem to be characteristics of pure competition.
5 0
2 years ago
The ABC Company is having a meeting about a possible merger with the XYZ Company. The ABC Company sent one executive to handle t
iVinArrow [24]

Answer:

Individualistic

Explanation:

Individualistic mindset focuses on the individual and gives them more emphasis than the group.

The opposite of individualism is collectivism or group mentality which emphasise the group over the individual.

To discuss the merger between the two companies, ABC company only sent one person while XYZ company sent 5 people from different departments.

ABC is most likely have a individualistic mindset and they feel one person can handle the negotiation.

On the other hand XYZ sent representatives from each department. This shows the organisation has to agree to the deal so all departments are involved.

8 0
3 years ago
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