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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:

2 answers:

7 0

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.

vodka [1.7K]1 year ago

3 0

<span>Price elasticity of demand is a measure of the relation between consumer demand for a good and the price for that good. A higher elasticity value means that for each differential change in the price of that good, consumers will buy significantly more or less of the item. However, in this case, the consumer is buying the exact same amount of the product each month, regardless of the price. As such, an economist would say that Jessica's demand for Big Macs is completely inelastic; that is, the value of the price elasticity is zero.</span>

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Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for $38,000,000 in cash. T

LenaWriter [7]

Answer: The Goodwill is $7,000,000

Explanation:

Purchase price. 38,000,000

Less:

Fair value of asset 48,000,000

Less: Fair value of liabilities 17,000,000

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Fair value of net Asset. 31,000,000

---------------------

Goodwill. 7,000,000

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Workings

Fair value of Asset = Current Asset + Property, plant and equipment + Other asset

= 14,800,000 + 30,000,000 + 3,200,000

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Fair value of Liabilities = Current Liability + Long term Liability

= 6,600,000 + 10,400,000

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1 year ago

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Ray Jene earns $900 a week at a Publix supermarket. Ray's payroll deductions are 28%. What is Ray's take-home pay?

kaheart [24]

If Ray earns $900 a week and deductions are 28% Ray's take home pay is:
$648 a week

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1 year ago

According to the Uniform Partnership Act, the three key elements of any general partnership are

Anon25 [30]

Answer:

(2) Common ownership, shared profits and losses, and right to participate in managing the operations.

Explanation:

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2 years ago

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Orlov [11]

Answer:

Net income will increase by $11,250

Explanation:

Provided information,

Current sales = 75,000 units which represents 80% capacity

Therefore, 100% capacity = $\frac{75,000}{0.8} = 93,750 units$

Fixed cost at 100% capacity = $1.25 $\times$ 93,750 = $117,187.50

Therefore,

Current net income

Sales = 75,000 $\times$ $7.00 = $525,000

Less: Variable cost = 75,000 $\times$ $3.50 = $262,500

Less: Fixed Cost = $117,187.50

Net Operating Income = $145,312.50

Now with the additional order, which is of 15,000 units the additional ideal capacity of 20% will be utilized, further no fixed cost will be incurred, as the entire fixed cost for 100% capacity is utilized, thus

Sales = 15,000 $\times$ $3 = $45,000

Less: Variable cost = 15,000 $\times$ $2.25 = $33,750

Net Income = $11,250

Thus, the net income will increase by $11,250

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1 year ago

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Dmitriy789 [7]

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