Usually, a change of course such as the change in this company operation would be outlined in the firm's product vision statement.
<h3>What is
product vision statement?</h3>
A product vision statement is a statement that is use as a guide or reminder to all the stakeholders involved in a product's development and also entails the objective they are aiming to achieve.
Usually, the product vision statement will reflect the change if the change of organization course occur.
In conclusion, the change of course such as the change in this company operation would be outlined in the firm's product vision statement.
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Answer:
Strength: It provided a faster way of travel
Weakness: It took forever and required a lot of manpower
Explanation:
Answer:
c. total revenue does not change.
Explanation:
A price elasticity of demand can be defined as a measure of the responsiveness of the quantity of a product demanded with respect to a change in price of the product, all things being equal.
Mathematically, the price elasticity of demand is given by the formula;
The demand for goods is said to be elastic, when the quantity of goods demanded by consumers with respect to change in price is very large. Thus, the more easily a consumer can switch to a substitute product in relation to change in price, the greater the elasticity of demand.
Generally, consumers would like to be buy a product as its price falls or become inexpensive.
For substitute products (goods), the price elasticity of demand is always positive because the demand of a product increases when the price of its close substitute (alternative) increases.
If the price elasticity of demand for a product equals 1, as its price rises the total revenue does not change because the demand is unit elastic.
Answer:
The future value is $6,894.21
Explanation:
Giving the following information:
Dominic Joseph deposits $5,000 in a new savings account. The account pays 5.5 percent interest compounded annually.
To calculate the future value, we need to use the following formula:
FV= PV*(1+i)^n
PV= 5,000
i= 0.055
n=6
FV= 5,000*(1.055)^6= $6,894.21
