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2 years ago

If the absolute value of the own price elasticity of demand is greater than 1, then demand is said to be:

Business

1 answer:

OLEGan [10]2 years ago

8 0

Answer:

A. elastic.

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Demand is elastic when a change in price leads to a change in quantity demanded. The coefficient of elasticity for elastic demand is usually greater than one.

Demand is inelastic when a change in price has no effect on quantity demanded.

The absolute value of the coefficient of elasticity for inelastic demand is usually less than 1.

Demand is unitary when a change in price leads to an equal proportional change in quantity demanded.

The absolute value of the coefficient of elasticity for unitary demand is usually equal to one .

I hope my answer helps you.

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The drugstore chain CVS uses loyalty-card data to better understand what consumers purchase, the frequency of store visits, and

Sati [7]

Answer:

Explanation:

Based on the information provided within the question it can be said that this is associated with the company capability of being able to collect fuller and richer information about markets, customers, prospects, and competitors. This is because with by knowing what customers are purchasing and how often they are getting lots of information regarding what products are good in the market, customer information including frequency of purchases, what customers are likely to buy, and even the effect that the competitors are having on the market.

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2 years ago

A company has a process that results in 24,000 pounds of Product A that can be sold for $8 per pound. An alternative would be to

Gnom [1K]

Answer:

It should sell Product A as it is.

the impact of procees further is a loss for 16,000

Explanation:

We will check if the further process is a viable option for hte company's cost structure

additional revenue

(14 - 8) x 24,000 = 144,000

additonal cost (160,000)

differential (16,000)

We can sale the poudns at 8 or process further to receive 14

the differential revenue is 14 - 8 = 6 per pound

then we multiply this by the amount of pounds we produce.

This give us an additional revenue for 144,000

Our additional cost ofr this process are 160,000

The cost are greater than the proceeds, it is not viable. It should sell Product A as it is.

Further process generates a loss for 16,000

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2 years ago

. Which statement in the given text points to George being an ethical leader? George had been working as a manager in a company

SIZIF [17.4K]

Answer:

His company had been going through a lot of transition in the past year because they wanted to improve their public image.

George made sure that the restaurant served all the dishes that were popular in the locality.

Explanation:

An "ethical leader" is concerned about the beliefs and values of people in the society. In order to adapt to locality, George has to consider the company's virtues by improving their public image. This will make their restaurants desirable. This can also be done if the restaurants will make sure <u>to know what the popular dishes are in the local area.</u> For example, if the people prefer "halal" food, then they'll be preparing halal foods as well. This is an ethical way of respecting the people's preference in the area.

So, this explains the answers.

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2 years ago

Which statement best describes competence as defined in the AICPA Code of Professional Conduct? Infallible judgment that cannot

FrozenT [24]

Answer:

The application of skill and knowledge with reasonable care and diligence

Explanation:

Competence is a part of Article IV- Due Care under the AICPA code of professional conduct. Competence is necessary to render the professional service without calling into question. It represents the application and maintenance of perceiving experience that supports a professional member to render a service with extreme knowledge, facility, and professionalism. Therefore, the answer choice B is the correct option.

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2 years ago

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Ana is thinking about putting $200 in a savings account that earns 4% interest compounded semiannually. She wants to keep that m

rjkz [21]

Compound interest formula:
A = P * ( 1 + r/n ) ^(n t)
In this case:
A = $200 * ( 1 + 0.04/2 )^(2*2) =
= $200 * ( 1.02)^4 =
= $200 * 1.08243 = $216.49
Answer: At the end of the 2 years she will have $216.49.

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2 years ago

Read 2 more answers