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bagirrra123 [75]
2 years ago
4

Suppose that Mimi plays golf 5 times per month when the price is $40 and 4 times per month when the price is $50. What is the pr

ice elasticity of Mimi’s demand curve
Business
1 answer:
DochEvi [55]2 years ago
5 0

Answer:

-1.25

Explanation:

The price elasticity of demand is the ratio of the percentage change in quantity demanded to the percentage change in price. It measures the degree of responsiveness of change in demand to a change in price.

In this question, %change in demand is (5-4)/4 * 100 = 25%

% change in price is (40-50)/50 * 100 =-20%

The price elasticity of demand is = % change in quantity demanded/% change in price = -25/20 = -1.25

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Mira Mesa Appliances makes and sells kitchen equipment for offices and hotel rooms. Mira Mesa management believes that a new mod
lys-0071 [83]

Answer:

$126

Explanation:

We can calculate the amount Mira can pay for the synthetic material per unit (refrigerator) and meet its profitability goal by deducting the estimated profit and then all the cost from the selling price per unit.

Selling price per unit                                        $260

Less

estimated return (260x30%) =                    ($78)

Labor costs                                                    ($32)

Overhead costs                                            ($24)

Material                                                              $126      

Amount Mira can pay for Synthetic material per unit is $126

               

6 0
2 years ago
Most businesses replace their computers every two to three years. Assume that a computer costs $2,000 and that it fully deprecia
sineoko [7]

Answer:

$2000=Z/(1+i)^1+Z/(1+i)^2+Z/(1+i)^3

Explanation:

let Z be the annual minimum cash flow

The internal rate of approach can be used here, in other words, the rate of return at which capital outlay of $2000 is equal present values of future cash flows

In year 1, present value of cash =X/discount factor

year 1 PV=Z/(1+i)^1

year 2 PV=Z/(1+i)^2

year 3=Z/(1+i)^3

Hence,

$2000=Z/(1+i)^1+Z/(1+i)^2+Z/(1+i)^3

Solving for Z above would give the minimum annual cash flow that must be generated for the computer to worth the purchase

Assuming i, interest rate on financing is 12%=0.12

Z can be computed thus:

$2000=Z(1/(1+0.12)^1+(1/(1+0.12)^2+(1+0.12)^3)

$2000=Z*3.09497902

Z=$2000/3.09497902

Z=$646.21

3 0
2 years ago
Based on a predicted level of production and sales of 21,000 units, a company anticipates total variable costs of $105,000, fixe
tresset_1 [31]

Answer:

The budgeted amount of fixed costs for 19,000 units is  $155,800

Explanation:

According to the Given Scenario the Following are Computation to find out the budgeted amount of fixed costs for 19,000 units.

Current Contribution Margin = \frac{Fixed Cost + Operating Income}{No of Unit Sold}

Current Contribution Margin =$25,200 + $147,000/21,000

Current Contribution Margin = $172,200/21,000

Current Contribution Margin = $8.2 per Unit

The Contribution Margin for 19,000 units = $8.2 × 19,000

The Contribution Margin for 19,000 units = $155,800

Therefore, The budgeted amount of fixed costs for 19,000 units is  $155,800

5 0
2 years ago
Read 2 more answers
Suppose that you were born in 1999. Also, suppose that your mother received a $100 baby shower gift at your birth. How much woul
nadezda [96]

Answer:

= $147.12

Explanation:

First, we determine the amount received by Mother in 199 9= $100

Based on this,

The Consumer Price Index in 1999 = 166.6

The Consumer Price Index in 2017 = 245.1

We then calculate the amount it would cost in 2017 to buy similar goods bought by mother in 1999

= Value in 2017 = Amount received in 1999 x (2017 CPI / 1999 CPI)

= $100 x (245.1/166.6)

=  $100 x 1.471

= $147.12

This means that the baby shower gift received at $100 in 1999 will cost  $147.12 to buy in 2017.

4 0
2 years ago
If all you knew about a production system was that total daily output was 400 units and the total labor necessary to produce the
Serjik [45]

Answer:

partial measure

Explanation:

Based on the information provided it can be said that the kind of productivity measure that can be used would be a partial measure. Partial Productivity measure relates output to a single input unit. For example, capital productivity deals with output per unit of capital while energy productivity relates output per joule of energy used. In this scenario, we would need labor productivity which is output per hour worked.

6 0
2 years ago
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