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Delicious77 [7]
2 years ago
5

Suppose the price of a Snickers candy bar is $2.00 at both the airport and the grocery store. The price elasticity of demand for

a Snickers candy bar at an airport is likely to be ________ the price elasticity of demand for a Snickers candy bar at the grocery store.
Business
2 answers:
Vladimir [108]2 years ago
7 0

Answer:

The price elasticity of demand for a Snickers candy bar at an airport is likely to be less than the price elasticity of demand for a Snickers candy bar at the grocery store.

Explanation:

The definition of elasticity of demand is the degree of change in the demand for a good with the change of its price.

In this case, we assume that  change in the demand of candies at the airport is very low, usually the people don´t have another option and have to buy it , even if the price is higher than other places.  

The elasticity at the grocery store will be higher at a grocery store because, the people have more option . If the product has a high price, the customer can leave it and look for another store.  

So we can say that the price elasticity of demand for a Snickers candy bar at an airport is likely to be less than the price elasticity of demand for a Snickers candy bar at the grocery store.

MaRussiya [10]2 years ago
5 0

Answer:

the same

Explanation:

Price elasticity of demand is the change in the quantity demanded or purchased of a product in relation to its price change. In this equation, place has no effect on the price elasticity of demand. Therefore, for a snickers candy whether is sold at airport or at the grocery store the price elasticity of demand is the same.

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Mrs. Jones always wanted a white picket fence in front of her house. Mr. Jones, her husband, wants a fence around the entire hou
Kazeer [188]

Answer:

The dimensions for the entire area will give the cheapest cost for the entire fence are 40 feet in front, 100 feet on each side, and 40 feet on bottom.

Explanation:

Since Mrs. Jones always wanted a white picket fence in front of her house, and Mr. Jones, her husband, wants a fence around the entire house including a decently-sized lawn in the front and a garden in the back, and the fence border should look like a rectangle, and I have calculated that he would need to fence off an area of ​​4,000 square feet in order to fit all these things, and he wants to appease his wife and at least build the white picket fence in front of the house, and he plans to build the rest of the fence with chain link, a cheaper material, given that a white picket fence costs $ 7 per foot and a chain link fence costs $ 4 per foot, to determine what dimensions for the entire area will give the cheapest cost for the entire fence, the following calculation should be performed:

Area of ​​a rectangle = base times height = Z x Y = 4,000

80 x 50 = 4,000

40 x 100 = 4,000

20 x 200 = 4,000

20 x 7 x 2 + 200 x 4 x 2 = X = 280 + 1600 = 1880

40 x 7 x 2 + 100 x 4 x 2 = X = 560 + 800 = 1360

80 x 7 x 2 + 50 x 4 x 2 = X = 1120 + 400 = 1520

Therefore, the dimensions for the entire area will give the cheapest cost for the entire fence are 40 feet in front, 100 feet on each side, and 40 feet on bottom.

8 0
2 years ago
Type your answer in the box. Jay's Furniture makes several types of furniture including couches and loveseats. Last year total c
Snezhnost [94]

Answer:

Increase profits by $40,000

Explanation:

The computation of the  net impact of stopping production of love seats is shown below:

= Contribution margin × increased percentage - segment margin

= $900,000 × 10% - $50,000

= $90,000 - $50,000

= $40,000

Since the amount comes in positive which means that the profits is increased by $40,000

All other information which is given is not relevant. Hence, ignored it

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2 years ago
What is the maximum amount you would pay for an asset that generates an income of $ 250,000 at the end of each of five years if
Galina-37 [17]

Answer:

170,146

Explanation:

$250,000 / (1.08)5= 170,146

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2 years ago
Which of the following is NOT part of a successful quality​ strategy?
Romashka-Z-Leto [24]

Answer:

D. Minimize quality costs throughout the organization

Explanation:

  • A quality strategy is part of the organization's strategy to maintain quality standards and to maintain productivity at a higher significance level.
  • For the same various companies have a TQM total quality management systems in place that checks the quality must be maintained as a standard, the company must be aware and must show the participation in its implementation, must be of least cost and rewarding in nature.
  • Thus to build or forester an organization's culture of quality and to engage all employees in building these principles through a well-maintained standard of the organization.
7 0
2 years ago
While conducting business with a customer from Italy, Zoe was careful to speak slowly and clearly, using short sentences and fam
lana66690 [7]

Answer:

graciously accept the blame for not making her meaning clear.

Explanation:

In business communication when the message being passed is not clearly understood for one reason or the the other (in this case because of language barrier). The polite action to take is first to graciously accept blame for not passing the message across clearly, then find a solution to the communication gap.

Talking louder to the other party will be the wrong step to take as it will appear rude, so offer an apology which will give a positive environment.

The other options of ending the conversation and asking an Italian business man to explain what you mean in simple terms will be taken as a slight.

6 0
2 years ago
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