Answer:
The money paid; overall sacrifice
Explanation:
Price: It refers to the amount of money paid to acquire a specific quantity of goods and services. It is also a measure of value.
Price to some consumer is the overall sacrifice made to acquire a product. It is the money paid in exchange for a Commodity.
Prices can be affected by demand or supply of goods.
If the demand for a product is higher than its supply, then price of the product will increase.
If the supply of a product is higher than its demand, then price of the product will fall.
Demand is the amount of goods and individual is willing to buy at a particular price over a period of time. Consumers tend to maximize utility by buying more quantity of a product at a lower price.
Supply is the amount of goods and services a producer is willing to sell at a particular price over a given period.
Producers tend to maximize Profit by selling more quantity of goods at a higher price.
Price is the major determinant of how much to demand and how much to supply at a point in time.
Elaine was known for being especially frugal. In fact, it was not out of the question for her to commute nearly 45 minutes just to save a few dollars on a packet of cigarettes. Elaine perceived price as the money paid for a good or service, while most consumers recognize price as the overall sacrifices made to acquire a good or service.
Customer A would be much worse off as a result of the sales rate increase than Customer B.
Customer B will face fewer negative opportunity costs as a result of the sales raising taxes than Consumer A.
Customer A sales tax rate <u>rises </u>of 2% on a $10,000 car buy equals 2% of Consumer A's income, but only 4% of Consumer B's revenue.
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Answer:
Tax on the airport= 5.376%
Explanation:
The tax rate on the airport can be calculated from the price of the magazine on the airport and tax which is on the magazine when purchasing from the airport.
Tax rate at the airport=(Tax on the Purchase)/(Price of magazine at which it is purchased)
In percentage:
Tax on the airport= 0.05376*100
Tax on the airport= 5.376%
Answer:
a) Break even = 480.5 units ≈ 481 Million units
b) Breakeven = 8,014,162,500 units
Explanation:
calculations are in millions
Breakeven = fixed costs / contribution per unit
selling price per unit = $47063/400 = $117.66
Variable cost = ($18756*75%) + ($31755*50%) = $14067 +15877.50 =$29944.5/400 units =$74.86
contribution = $117.66-$74.86 = $42.80
fixed costs = ( $18756*25%) +( $31755*50%) = $4689 + 15877.50 = $20566.50
Breakeven = $20566.50/$42.80 = 480.5 units
b) calculations
fixed costs = 20,566,500 + 300,000,000
= 320,566,500
break even = $320,566,500 /0.04
= 8,014,162,500 units
Answer:
Detailed step wise solution is given below:
