What is the overriding goal of a customer relationship management system?

why is the quantity of education demand in private universities Much more responsive than salt is to change in price ?

Nuetrik [128]

Answer:

Education demand is elastic as compared to salt demand which is highly inelastic.

Explanation:

Elasticity of demand is a measure of the responsiveness of the demand of a good or service relative to it's corresponding change in price. A demand curve can be used to determine the degree of elasticity. A demand curve is a graphical representation of how price varies with quantity of goods and services demanded. The quantity of goods demanded is plotted on the horizontal axis of the graph with the corresponding price plotted on the vertical axis of the graph. With the graph, the elasticity of demand can be calculated. The formula for determining elasticity for demand is;

ED=Q/P

where;

ED=elasticity of demand

Q=percentage change in quantity demanded, where

Q={(Q2-Q1)/Q1}×100

Q2=quantity demanded when price is P2

Q1=quantity demanded when price is P1

P=percentage change in price, where;

P={(P2-P1)/P1}×100

P2=final price

P1=initial price

The formula above can be used to determine the degree of elasticity of a good or service as shown;

If the price elasticity of demand is greater than 1, then the demand is elastic. Meaning the demand is very sensitive to changes in price. This usually happens on goods and services that are wants rather than needs. Wants are luxuries that most people can do without or can find cheaper alternatives while needs are goods that most people can't do without.

If the price elasticity of demand is less than 1, then the good or service is inelastic. Meaning the demand is not very sensitive to changes in price. This usually happens on goods and services that are needs. Needs are goods and services that most people cannot do without.

In our case, salt is a need that most people cannot do without, therefor inelastic. However, quantity of education in private universities is highly elastic since there are many alternatives like public universities that are much cheaper compared to private universities. So a change in price will affect the quantity of demand.

8 0

2 years ago

A firm purchased raw materials on account and paid for them within 30 days. The raw materials were used in manufacturing a finis

Nataly_w [17]

Answer: 130 days

Explanation:

The Cash Conversion Cycle is a measure that attempts to show how many days on average it takes a company to convert resources into cash.

It is calculated with the following formula,

= Days of Inventory Outstanding + Days of Sales Outstanding - Days of Payables Outstanding

Where,

Days of Inventory Outstanding is the amount of days it takes to convert inventory to sales

Days of Sales Outstanding is the amount of time it takes debtors to pay the company for goods they bought and,

Days of Payables Outstanding is the time it took the company to pay for the goods it bought

Plugging in the figures we have,

= 100 + 60 - 30

= 130 days

The firm's cash conversion cycle is 130 days.

7 0

2 years ago

Financial information for American Eagle is presented in Appendix A at the end of the book. Required: 1-a. Calculate the current

jasenka [17]

Answer:

Find the appendix attached:

Current ratio improved in 2018 from 1.83 in 2017 to 2.00 in 2018

Acid test ratio improved in 2018 from 1.10 in 2017 to 1.18 in 2018

The payment of $100 million accounts payable would make current ratio in 2017 improve from 1.83 to 2.03 and in 2018 from 2.00 to 2.25

The payment of $100 million accounts payable would make acid test ratio in 2017 from 1.10 to 1.12 and in 2018 from 1.18 to 1.22

Find computations below.

Explanation:

2018 2017

Current ratio

Current assets/current liabilities

$968,530/$485,221 2.00

$901,229/$493,783 1.83

Current ratio improved in 2018 from 1.83 in 2017 to 2.00 in 2018

2018 2017

Acid test ratio

(Current assets-inventory)/current liabilities

($968,530-$398,213)/$485,221 1.18

($901,229-$358,446)/$493,783 1.10

Acid test ratio improved in 2018 from 1.10 in 2017 to 1.18 in 2018

Impact of $100,000,000 cash used in settling accounts payable:

2018 2017

Current ratio

Current assets/current liabilities

($968,530-$100,000)/($485,221-$100,000) 2.25

($901,229-$100,000)/$493,783-($100,000) 2.03

The payment of $100 million accounts payable would make current ratio in 2017 from 1.83 to 2.03 and in 2018 from 2.00 to 2.25

2018 2017

Acid test ratio

(Current assets-inventory)/current liabilities

($968,530-$398,213-$100,000)/($485,221-$100,000) 1.22

($901,229-$358,446-$100,000)/($493,783-$100,000) 1.12

The payment of $100 million accounts payable would make acid test ratio in 2017 from 1.10 to 1.12 and in 2018 from 1.18 to 1.22

Download xlsx

5 0

2 years ago

Thomas announced to his accounting team that the company’s financial reports should be completed "by next week." Subsequently, m

forsale [732]

Answer: The stage of communication is MESSAGE DECODING.

Explanation: Decoding of a message involves interpreting and understanding a message. It is the process of converting a message sent into thoughts.

A message is first received by a receiver who then begins to interpret it. The receiver translates the message into meaningful symbols that is easily understood by him. When you decode a message, you get the meaning out of a conversation or message. As such, a message can be said to be completely decoding when then is successful communication.

6 0

1 year ago

Mark is a senior manager at a leather manufacturing company. He sets unrealistic goals for the factory workers, and he often mak

crimeas [40]

Answer:

The authority compliance style

Explanation:

The authority compliance style is one of the Blake / Mouton leadership grips where the manager believes that the employees are just a form of means to achieving a goal . As a result of this , the set goals are given more priority over the employees.

Employees under this managerial form of leadership are not motivated as they are forced to work towards achieving the managers goals with in a very stringent condition.

8 0

2 years ago

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