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Fed [463]
2 years ago
12

Assume an analyst has been hired to estimate the price elasticity of demand for hamburger (which sells for about $2.30 per pound

) and filet mignon (which sells for about $20 per pound), respectively. Considering the different determinants of the price elasticity of demand, we would expect the coefficient of price elasticity of demand to be:(A) larger for hamburger than for filet mignon.(B) larger for filet mignon than for hamburger.(C) approximately the same for both hamburger and filet mignon.(D) none of the above because different determinants would have opposing effects on the two estimates.
Business
1 answer:
Pepsi [2]2 years ago
6 0

Answer:

The correct answer is B

Explanation:

Price elasticity of the demand evaluates the demand responsiveness after the change or variation in the product own price.

The formula for computing the coefficient of price elasticity, is the factors which affect the elasticity and also elasticity is vital for business when deciding the prices.

So, Filet mignon(F) sells for $20 per pound when compared to that of hamburger (H) which sells the product for $2.30 per pound. F have the higher price as compare to the H, therefore, the coefficient of the price elasticity of demand in absolute value will be high or larger for F than that of H.

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A marketing manager wants to build a strong relationship with the customers and to customize messages without high costs. He und
Colt1911 [192]

Answer:

Direct marketing and interactive marketing.

Explanation:

In a case of direct marketing here, they do research, identify customers, select media (TV, direct mail, internet), and create a campaign. But rather than guess whether the message worked, they track the consumer's response. How many people (and of what age, ethnic group, income level) called the number in the catalog, clicked the button on the website, or went to the store for their gift with purchase. This is because direct marketers can measure the results, they can make the next campaign even better.

While in the other hand, interactive marketing explained to be the fastest growing form of marketing where sellers do chats and explanations that comes off as convincing approach of their products to their buyers, this could be physically or online.

4 0
2 years ago
Drag the tiles to the correct boxes to complete the pairs. Match each law with its benefit for consumers. Economic Growth and Re
kow [346]

Answer:

1. Economic Growth and Regulatory Paperwork Reduction Act - <em>Consumer has less paperwork to go through to buy a new house</em>

The Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA) is a law that requires that the regulatory bodies of Federal Deposit Insured Corporation insured institutions such as banks and savings organisations review the documents they require from said banks to see if there are any unnecessary requirements needed. This will translate to fewer  paperwork for the customers of such banks who for instance seek a mortgage to buy a house.

2.  Fair Credit Reporting Act - <em>Consumer disputes financial information reported to a credit scoring company</em>

The Fair Credit Reporting Act (FCRA) gives consumers the right to dispute the information reported to a credit scoring company. It also regulates how these companies are allowed to collect and share the acquired data.

3. Federal Deposit Insurance Act - <em>The FDIC has the right to review companies for consumers</em>

4. Children's Online Privacy Act - <em>Consumer refuses to provide their five-year-old child's financial data to a company.</em>

The Children's Online Privacy Protection Act was passed in 1998 as a means to allow parents to determine what information about their children that websites can collect. Children in this case refers to people under the age of 13.

5 0
2 years ago
Vaughn Manufacturing reported operating data for its Sandtrap division for the year. Vaughn requires its return to be 9%. Sales
grin007 [14]

Answer:

ROI for the year will be equal to 10 %

Explanation:

We have given to total sales = $1500000

Controllable margin = $220000

Total average assets = $2200000

And fixed cost = $60000

We have to find the ROI of the year

ROI is given by

ROI=\frac{controllable\ margin}{average\ assets}=\frac{220000}{2200000}=0.1 = 10 %

So ROI will be equal to 10 %

5 0
2 years ago
The descriptive term used to explain how people, businesses, and countries around the world are more interdependent because of t
sasho [114]

Answer:

Globalization

Explanation:

Globalization can be regarded as process which involves integration as well as interaction of people across the globe as well as companies and governments across the world. Globalization has improved as result of advances in transportation as well as communication technology which makes the to come together.

It should be noted that Globalization explained how people, businesses, and countries around the world are more interdependent because of the changes in forces like transportation, media, technology, and global finance.

4 0
1 year ago
Which of the following details could best support a topic sentence that says, "Hiring a billing service can lower your company's
suter [353]
A. Specialists in billing can work fast and avoid errors. This detail supports the topic sentence about the cost savings for a company hiring a billing service. The speed and accuracy of the billing specialists can save money for a company because they can hire employees to perform other tasks. 
7 0
2 years ago
Read 2 more answers
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