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andrew-mc [135]
2 years ago
5

Lauren's salary decreases from $34,000 to $30,000. She decides to reduce the number of outfits she purchases each year from 20 t

o 19 . Use the midpoint method to calculate the income elasticity of demand for new outfits. Round your answer to two decimal places.
Business
1 answer:
Kitty [74]2 years ago
5 0

Answer:

8.08

Explanation:

Hi!

The income elasticity of demand is calculated by dividing the negative % change in demand by the % change in real income.

We calculate the negative % change in demand as:

19/20 = 0.95, a 95%

Then, the % change in real income as:

(34,000-30,000)/34,000 = 0.1176, an 11.76%

So the income elasticity of demand is:

0.95/0.1176 = 8.08

Hope it helps! :)

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Andrew is injured in an accident caused primarily by the negligence of Bob. Andrew suffers $100,000 worth of harm. Bob is 70% to
Rudik [331]

Answer:

$70,000

Explanation:

From the question, it is seen that Bob is the reason for this accident so he is the to bear a cost of treating Andrew based on comparative fault.

He contributed greatly to the accident therefore he is liable to a 70% payment of the $100000 cost of treatment.

100000 *70%

= $70000

Therefore by this law Andre will recover $70000 from him.

6 0
2 years ago
Bovindar, a wholesale distributor of gym equipment, organizes its salesforce based on the region it caters to. Therefore, the sa
algol13

Answer:

The answer is option B) Geographic departmentalization

Explanation:

Bovindar, a wholesale distributor of gym equipment, organizes its salesforce based on the region it caters to. Therefore, the salespeople who work in the north, south, east, and west regions of a country report to their respective department heads. In this scenario, which of the following organizational structures does Bovindar most likely Geographic departmentalization.

Geographic departmentalization is used in an organization with a customer base that is geographically dispersed.

To achieve organizational objectives, increase sales and maximize profits, geographic departmentalization comes int play as a strategy that allocate staff according to regions.

Geographic departmentalization divides its operations across different regions with their respective Heads of Department that staff report to.

6 0
2 years ago
Holly's ham, inc. sells hams during the major holiday seasons. during the current year 11,000 hams were sold resulting in $220,0
lutik1710 [3]
To find: Breakeven point (in units)  
Given: Number of hams sold = 11000
 Sales revenue = $220,000 
 Variable cost = $55,000
 Fixed cost = $24,000 
 Solution: Break-even point (in units) can be calculated as:-
  Fixed costs / (sales price per unit-variable costs per unit) 
 Fixed costs = $24,000
 Sales price per unit = total sales revenue/number of units = 220000/11000 =
$20
 Variable costs per unit = total variable cost/number of units = 55000/11000 = $5 
 Putting values in the formula, 
 =24000 / (20-5)
 =24000/15
 =1600 
 Breakeven point (in units) = 1600 units
7 0
2 years ago
Frances Newberry is the payroll accountant for Pack-It Services of Jackson, Arizona. The employees of Pack-It Services are paid
Triss [41]

Answer:

Francis net pay: 1,349.62 dollars

Explanation:

50,000 dollars per year

we divide over 24 payment per year: 2,083.33

we calculate the deductions

6.20% social security = 129.16

1.45% medicare =           30.21

3% 401(k) =                $  62.50

section 125 plan       $  25.00

advance repayment $ 375.00

750 / 2 = 375

taxable income: 2,083.33 - 62.5 - 25 = 1,995.83

Federal income tax: 1.6% $ 32.00

State Income tax: 4%       $ 79.83

Net pay: 1995.83 - 32 - 79.83 - 129.16 - 30.21 - 375 = 1,349.62

5 0
2 years ago
Riley obtains permission from Saga Company to use the firm's game app on Riley's smartphone, tablet, and other mobile device. Bu
77julia77 [94]

Answer:

A License

Explanation:

Riley obtains permission from Saga Company to use the firm's game app on Riley's smartphone, tablet, and other mobile device. But Riley does not obtain ownership rights in the app. This is  a license. When any organization gives its rights to another firm under this type of contract, the ownership rights always remain with the parent company and licensee can't have ownership rights in any way, they can use only the name and products of that parent company to the customers, but ownership held with the parent company. For example, when Burger King and Pizza Hut gives the right to make and sell their products all over the world, the ownership rights are always reserved with the Burger King and Pizza Hut.

7 0
2 years ago
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