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Korvikt [17]
1 year ago
5

Gus buys cupcakes every saturday morning. when he walks into the bakery, he always orders by saying, "give me $10 worth of cupca

kes." what does this tell you about gus's elasticity of demand for cupcakes?
Business
1 answer:
Nadya [2.5K]1 year ago
6 0

Elasticity of demand measures the responsiveness of quantity demanded to a change in the price of the good.

a. Perfectly elastic - The good is perfectly elastic when the consumer is ready to buy any quantity at a fixed price.

b. Perfectly inelastic- The good is perfectly inelastic when the change in the price of the good has not effect on its demand, that is when quantity demanded is same at whatever price.

So, because here Gus is ready to buy any units of cupcakes at a fixed price of $10, the demand for cupcakes should be perfectly elastic.

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Peter Metcalf founded Black Diamond which creates, produces, and sells outdoor equipment. This is an example of
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Answer:

manufacturing organization

Explanation:

This is an example of a manufacturing organization. This is an organization that focuses on gathering all of the necessary ingredients, which are then placed in a specific process to which combines them to make a unique product. This product is then sold to other companies or individual customers to generate profit for the company. This is exactly what Black Diamond does in order to produce outdoor equipment.

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1 year ago
You've decided to capitalize 100% of your new business by obtaining a loan from a local bank. Your initial funding will
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Capitalize is to give or invest your capital "money" to a company or an industry.  According to this question you capitalize all of your assets, therefore your initial fundings will come from shareholding. 

And your welcome! 



3 0
2 years ago
Read 2 more answers
You work in the marketing research department of Burger King. Burger King has developed a new cooking process that makes the ham
Bogdan [553]

Answer with its Explanation:

The first step is to diversify the sample size so that our sample includes every person from different cultures, geographic, religions, genders, etc., which would help in better assessment of the product's future in the market.

Second step is to set a sample size for receiving the feedback of the customers at required confidence interval that is Burger King's goal to achieve. For example, Burger King desires to achieve 93% customer satisfaction and the error rate would determined by using the confidence interval. This sample size would be calculated using the practical approach.

Third step is to ensuring that the errors in prediction are reasonably low by practical approach, confidence interval approach and diversified test samples. All this will help the company to ensure that they have accurate results in hand for decision making.

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2 years ago
Which of the following systems is especially suited to situations in which the procedure for arriving at a solution may not be f
Step2247 [10]

Answer:

The correct answer is the option D: Decision Support System.

Explanation:

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Sandhill Co. entered into these transactions during May 2022, its first month of operations.
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Answer and Explanation:

The transactions 3 6 and 8 represents that the expenses are incurred which results in increased and expenses and the transaction 4 and 5 shows that there is an increased in revenue

The journal entry is shown below:

For transaction 3

Rent expense

        To Cash

(Being the rent expense is paid for cash is recorded)

As the expense has debit balance so it would be increased

For transaction 6

Electricity expenses Dr

      To Cash

(Being the energy usage is paid for cash is recorded)

As the expense has debit balance so it would be increased        

For transaction 8

Advertising expense Dr

             To Account payable

(Being the advertising expense is recorded)

As the expense has debit balance so it would be increased

For transaction 4

Account receivable Dr

        To Service revenue

(Being the service is provided)

As the revenue has credit balance so it would be increased

For transaction 5

Cash Dr

        To Service revenue

(Being the service provided is recorded)

As the revenue has credit balance so it would be increased

The attachment is provided for better understanding  

The other transactions represent the assets, liabilities and stockholder equity

8 0
2 years ago
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