Answer:
3 then 1
Explanation:
Supply is said to be increased when the quantity supplied expands but the price and quantity demanded remains unchanged. As quantity supplied has increased whereas the quantity demanded is what it was before this change, there is first a surplus of bottled water in the market. This surplus will have a downward pressure on price, reducing the quantity supplied a bit and, as the law of demand suggests ,the quantity demanded will increase. Given that the demand is relatively price elastic, the change in quantity demanded will be greater than the change in price. Therefore the revenue will increase.
Answer:
20 bhat
Explanation:
Calculation for the price of rice in Thailand
Using this formula
Price=Costs×Nominal exchange rate
Let plug in the formula
Price =$10×2 Thai bhat per dollar
Price =20 bhat
Therefore the price of rice in Thailand will be
20 bhat
Answer:
Market survey
Explanation:
For Donna to open a new business in which she will be successful and very profitable she needs to know what problem/need her new business/product can solve in the society. this is very important to know before engaging in any form of business because businesses that solve problem/needs of its community tend to strive better even in a bad economy.
The best marketing strategy to determine this need/want is called Market survey. this survey can be carried out by creating a one page questionnaire about her intended product and post/send it to the relevant audience for appropriate feedback and also to professionals in her intended product. the feedback she gets from the questionnaire will help inform her on the best product to sell.
Connie's next step should be
Not - go back and revisit her plan objectives
Maybe - Conduct primary research and analyze Fred's current customers.
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Explanation:</u></h3>
It is very essential for an entrepreneur who decides to start a new business to have a business plan that helps him in setting up the businesses in the right track and usage of funds in an effective manner. A business plan acts as a blue print of a new business and the objectives and resource utilization.
In the scenario give, Fred decides to start a new boutique and has conducted researches geographic locations and the type of boutiques supported by the demography. She must not then go back and review her plan objectives as she has decided to start it with a good plan and she may conduct a primary research about the current customers of him.
Answer:
2 Days
Explanation:
First, there is the need to rewrite the utility function for clarity
U=V^{1/2}
1. The Probability of Falling ill by someone in the family is given as 20%
2. If someone should fall ill, the total number of days that would be spoiled is calculated as:
Total number of vacation= 10 days x Probability to fall ill = 20%
= 10 x 0.2 = 2 days
This means if someone should fall ill based on the probability, then 2 out of the total 10 days can be ruined
3. The number of days for vacation days to enjoy is 10-2 = 8 days
This means if the family gives up 2 days of probable illness, they can still enjoy their vacation.
V= 2 days
