Answer:
The elasticity of supply for hot cocoa is 1.43.
(D) Supply in the market for coffee is less elastic than supply in the market for hot cocoa
Explanation:
Using the midpoint formula,
Elasticity of supply for hot cocoa = (change in quantity supplied/average quantity supplied) ÷ (change in price/average price)
change in quantity supplied = 101 - 31 = 70
average quantity supplied = (101+31)/2 = 66
70/66 = 1.06
change in price = 9.75 - 4.5 = 5.25
average price = (9.75+4.5)/2 = 7.125
5.25/7.125 = 0.74
Elasticity of supply for hot cocoa = 1.06 ÷ 0.74 = 1.43. The supply for hot cocoa is elastic because the elasticity of supply is greater than 1.
Elasticity of supply for coffee = (73 - 31)/(73+31)/2 ÷ 0.74 = 42/52 ÷ 0.74 = 0.81 ÷ 0.74 = 1.09. The supply for coffee is elastic because the elasticity of supply is greater than 1.
However, supply in the market for coffee is less elastic than supply in the market for hot cocoa because the elasticity of supply for coffee is less than that of hot coffee.
General Mills is most likely using marketing information
system in collecting and storing data. A market information system is being
used in order to support the decision making of the market in which the data is
composed of stored, analyzed and gathered data in which is being distributed to
the managers.
Complete Question:
Darcy is a new manager in a large consulting firm. As one of her first tasks, she needs to set goals for her team. Her team is global and the members operate on their own, serving a variety of client needs in different industries and market sectors. What method will Darcy likely choose to set goals?
A. Top-down.
B. Bottom-up.
C. Road mapping.
D. Focus groups.
Answer:
Bottom-Up method will Darcy likely choose to set goals
Explanation:
With the bottom up strategy, the team members build their own goals. When this is completed, it is up to you to merge all these tasks into a single group of targets.
When completed, you will have to merge these different goals into a single team set of targets. This can be a problem for any boss, as you may well understand.
Many forms of team members are well adapted for the bottom-up approach of setting goals. In particular team members who decide their own tasks, who understand the company's priorities and strategies and understand the role of the organisation in achieving these objectives.
Answer:
(i) 9.1
(ii) 10.2
Explanation:
Accounts receivable turnover for 20Y2:
Average accounts receivable:
= (Beginning account receivable + Ending accounts receivable) ÷ 2
= (300,000 + 340,000) ÷ 2
= $320,000
Accounts receivable turnover ratio;
= Net annual credit sales ÷ Average accounts receivable
= $2,912,000 ÷ $320,000
= 9.1
Accounts receivable turnover for 20Y1:
Average accounts receivable:
= (Beginning account receivable + Ending accounts receivable) ÷ 2
= (280,000 + 300,000) ÷ 2
= $290,000
Accounts receivable turnover ratio;
= Net annual credit sales ÷ Average accounts receivable
= $2,958,000 ÷ $290,000
= 10.2