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Romashka [77]
2 years ago
9

When the price of a slice of pizza is $1.75, quantity demanded is 400. when the price per slice falls to $1.50, quantity demande

d increases to 600. what is the absolute value of the price elasticity of demand?
Business
1 answer:
Karolina [17]2 years ago
7 0
The absolute value of the price elasticity of demand is -3.5 based on the information shown in the question above. This problem can be solved using the elasticity formula which stated as Ed = ((Q1-Q0)/Q0)% / ((P1-P0)/P0)%. In this formula, Ed is the elasticity of demand, Q1 is the current quantity, Q0 is the previous quantity, P1 is the current price, and P0 is the previous price (Calculation: -3.5 = ((600-400)/400)% / ((1.5-1.75)/1.5)%)<span>.</span>
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4 0
1 year ago
Read 2 more answers
1. OB helps managers explain, predict, and influence behavior in the workplace. Identify behaviors that you are most interested
SashulF [63]

Answer:

Part 1).  

The behavior that I am most involved in amplification, forecasting and persuading in the office is motivation between the team followers and staffs.

One the key persistence of association behavior is to manage staffs efficiently. This means that the employee administration is a large part of OB. In doing that administrations need to employee competent personnel and make sure they are sufficiently motivated. While the motivation can be of diverse types (internal and external), the administration of the motivation is what makes staffs efficient and creative. Thus in order to achieve effectiveness and productivity on association level, I believe it is significant to manage worker motivation efficiently.

There are various representations that can be used for this determination. For example, Maslow’s hierarchy, Herzberg’s’ theory, etc.

Part 2).

One of the significant steps to eliminate biases and preconceptions is to admit their presence and to vigorously avoid them. The staffs should receive discernment and diversity training on a regular basis. In addition to this stages of possible judgement/bias such as signing, raises, task, etc. needs to be totally objective. The valuation of staffs or possible personnel should follow objective procedure and assessment criteria.

This should allow plummeting, if not removing, the bias and judgement in the day to day process of the team and the association.

7 0
1 year ago
From the set $\{1, 2, 3, \dots, 20\},$ ten numbers are chosen at random, forming a subset. Let $M$ be the largest element among
Marysya12 [62]

The largest element can be as small as 10, which happens when the subset is {1, 2, ..., 10}.  The probability of choosing this subset is (1/2)^10 = 1/1024.  (Every element from 1 to 10 can either be in the subset, or not.)

The largest element can also be 11.  All the numbers in the subset must be from 1 to 10, and we must choose 1 to leave out, so the probability that the largest element is 11 is C(10,1)*1/1024.

The largest element can also be 12.  All the numbers in the subset must be from 1 to 11, and we must choose 2 to leave out, so the probability that the largest element is 12 is C(11,2)*1/1024.

We can do the other cases similarly:

Largest element is 13 -> C(12,3)*1/1024

Largest element is 14 -> C(13,4)*1/1024

Largest element is 15 -> C(14,5)*1/1024

Largest element is 16 -> C(15,6)*1/1024

Largest element is 17 -> C(16,7)*1/1024

Largest element is 18 -> C(17,8)*1/1024

Largest element is 19 -> C(18,9)*1/1024

Largest element is 20 -> C(19,10)*1/1024

Adding these up, we get (1 + C(10,1) + C(11,2) + ... + C(19,10))*1/1024.  Since 1 = C(9,0), we also get (C(9,0) + C(10,1) + C(11,2) + ... + C(19,10))*1/1024.

By the Hockey Stick Identity, C(9,0) + C(10,1) + C(11,2) + ... + C(19,10) = C(20,10), so the expected value of the largest element is 1/11*C(20,10)*1/1024 = 4199/256.

6 0
1 year ago
On January 1, 2021, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory value for its one inventory po
Gelneren [198K]

Answer:

Avondale Lumber

Rebasing the Inventory at year-end using the dollar-value LIFO inventory method:

Year Ended     Inventory year     Cost index                Inventory Amount

December 31   end costs       (relative to base year)     at year-end

2021                  $340,000                  1.02                       $333,333

2022                   350,000                  1.06                       $330,189

2023                   400,000                  1.07                       $373,832

2024                   430,000                  1.10                       $390,909

Explanation:

a) Data:

Year Ended     Inventory year     Cost index

December 31   end costs       (relative to base year)

2021                  $340,000                  1.02

2022                   350,000                  1.06

2023                   400,000                  1.07

2024                   430,000                  1.10

b) The inventory at year-end costs is rebased using the cost index that is relative to the base year, by dividing the inventory costs by the cost index.

7 0
1 year ago
Each month jessica buys exactly 15 big macs regardless of the price. jessica's price elasticity of demand for big macs is:
faust18 [17]

Price of elasticity of demand represents the measure of the change in the quantity demanded of a product in relation to its price change. The fact that Jessica buys each month exactly teh same quantity of the roduct (Big Mac) no matter what the price of the product ismeans that Jessica's price elasticity of demand for Big Macs is: 0.

In this situation the price of the product does not affect the demand.


7 0
1 year ago
Read 2 more answers
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