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Evgesh-ka [11]
2 years ago
12

When the price of chocolate-covered peanuts increases from $1.55 to $2.00, the quantity demanded decreases from 220 to 160. In t

his price range, the demand for chocolate-covered peanuts is _____, and total revenue will _____ when the price increases. inelastic; increase inelastic; decrease elastic; increase elastic; decrease
Business
1 answer:
vredina [299]2 years ago
4 0

Answer:

The answer is <em>elastic; decrease</em>

Explanation:

Price elasticity of demand (PED) = %change in QD/ %change in price

PED = (2-1.55/1.55 ) * 100 / (160-220/220) *100 = 1.065

PED is elastic

Total revenue before price change = 1.55*220= $341.00

Total revenue after price change = 2* 160 = $320.00

Total revenue decreased by $21.00

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ABC Company is trying a new method of employee motivation. Entry-level employees undergo a year of close supervision and bi-week
Serhud [2]
<h2>ABC Company is using <u>Job Enrichment </u>Technique.</h2>

Explanation:

ABC Company is trying out the following:

  • Hand-holding the employees according to their expertise and the position that they handle
  • Provide opportunity to grow up the level
  • Make sure that industry goals are achieved
  • Provide task in such a way that it enhances the skills of employee associated with the organization's goal
  • Increasing the challenging level with proper training and guidance

Let us understand the term "Job Enrichment"

It is the "motivation technique" used in the organization to provide greater satisfaction to the employee.

3 0
2 years ago
Suppose that the president proposes a new law aimed at reducing healthcare costs: All Americans are required to eat one apple da
sergeinik [125]

Answer:

A. The value of the marginal product of apple pickers increases

B. The equilibrium price of apples increases.

F. The wage of apple pickers increases.

Explanation:

  • In order to keep the healthcare costs low and increase the health care benefits of the people president proposed the apple a day law. Demand for the apples increase as and the equilibrium price of the apples also increases.  
  • There are no changes in the marginal producers of the apples. The values of the marginal producers of the apple increases. Demand for the apple pickers also increases along with the daily wages.
7 0
2 years ago
A credit sale of $750 is made on June 13, terms 2/10, net/30. A return of $50 is granted on June 16. The amount received as paym
Igoryamba

Answer:

D. $686

Explanation:

Given that

Credit sale = 750

Return = 50

Terms 2/10

Amount received in full therefore,

= [(750 - 50) - (750 - 50 {2%})]

= 700 - (700 × 0.02)

= 700 - 14

= $686

5 0
2 years ago
A product sells for $200 per unit, and its variable costs are 65% of sales. the fixed costs are $420,000. what is the break-even
Svetllana [295]
Unit sale price = $200
Variable costs are 65% of sales = ($200)(.65) = $130
Fixed costs = $420,000

To solve:
Break-even point = fixed costs / (sales price per unit - variable cost per unit)
Break-even point = $420,000 / ($200-$130)
Break-even point = $420,000 / $70
Break-even point = $6,000
4 0
2 years ago
At a time when demand for ready-to-eat cereal was stagnant, a spokesperson for the cereal maker Kellogg’s was quoted as saying,
larisa86 [58]

Answer:

for interest rates equal to or lower than 200%, the firms will use trigger strategies to support the collusive level of advertising

Explanation:

Using the below expression to determine the range of interest rates could these firms use trigger strategies to support the collusive level of advertising; we have:

\frac{current \ period's \ profit \ of \ the \ cheating \ firm \ - \  firm's \  profit \  in \ each \ period \ under \ collision  }{ firm's \ profit \ in \  each \ period \ under \ collision \ - \ profit \ in  \ each \ subsequent \ period \ of \ cheating \ firm  } \leq \frac{1}{i}

where;

the \ current \ period's \ profit \ of \ the \ cheating \ firm \ = \ 49

firm's \  profit \  in \ each \ period \ under \ collision  = \  9

\ profit \ in  \ each \ subsequent \ period \ of \ cheating \ firm  } = \ 1

Then :

= \frac{49-9}{9-1} \leq \frac{1}{i}

= \frac{40}{8}  \leq \frac{1}{i}

i \leq \frac{8}{40}

i \leq 200%

Thus; for interest rates equal to or lower than 200%, the firms will use trigger strategies to support the collusive level of advertising

6 0
2 years ago
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