A shop sells 20 hats per week at $10 each. When it increases the price to $12, the number of hats sold falls to 15 per week. We can conclude that: The elasticity of demand can be estimated as Answer

Answers

Answer 1

Answer:

Estimated as Elastic Demand

Explanation:

Elastic demand is where a change in price causes a significant change in demand, therefore 20 hats to 15 hats can be considered significant and we can conclude that it's elastic demand.


Related Questions

If I am under 18 years of age, I am prohibited from using my cell phone while driving unless

Answers

Answer:

Cell phone usage while driving is prohibited at any age

Answer:

unless of emergancy

Explanation:

Find the tax on a home if the assessed value is $24,375 and the tax rate is $43.97 per $1,000

Answers

Answer:

1071.76875

Explanation:

24,375/1000=24.375

24.375x43.97=1071.76875

I dont know a thing about buisness but I like math so I hope this is correct

Based on the following information answer question Furniture manufacture has 3 units of standard direct material allowed for one unit of output. One unit of direct material is expected to be purchased on average at $10. During the period the manufacture has produced 7000 units of output 4 units of direct materials have been used. The direct materials have been purchased at $9 per unit. The total quantities of materials purchased were 30,000 units. 1.What is a standard cost for material? 2.What will be the total inputs allowed as per the budget for actual outputs achieved? 3.What is total actual direct material used to produce actual output? 4.What is the material price variance? 5.What is the material efficiency variance? 6.What will be flexible budget variance? 7.Which one of the following items would never appear on a cash budget?

Answers

1. The standard cost for material per output unit is $30 ($10 x 3).

2. The total inputs allowed for actual outputs achieved is 21,000 units (7,000 x 3).

3. The total actual direct material used for actual output is 28,000 units (7,000 x 4).

4. The material price variance is $28,000 Favorable {($10 - $9) x 28,000}.

5. The material efficiency variance is $70,000 Unfavorable (21,000 - 28,000) x $10.

6. The flexible budget variance is $28,000 Favorable ($280,000 - $252,000).

7. The item that would never appear on a cash budget is the Depreciation Expense.

Data and Calculations:

Standard units of input materials = 3 units

Average cost of a unit of materials = $10

Total cost of 3 units = $30 ($10 x 3 per unit output

Actual production = 7,000 units

Flexible units of materials = 21,000 units (7,000 x 3)

Actual units of materials used = 28,000 units (7,000 x 4)

Actual cost of materials purchased = $9 per unit

Thus, depreciation expense does not involve a cash flow.

Learn more about cash budgets and budget variances here: https://brainly.com/question/8707644

Alpha Co. is paying a $.72 per share dividend today. There are 138,000 shares outstanding with a par value of $1 per share. As a result of this dividend, the:

Answers

The dividend paid reduces retained earnings by  $99,360

Dividend is the money paid out of profit after tax by a company to its shareholders.

We can compute the dividend paid by :

= Per share dividend * Shares outstanding

= $.72 * 138,000

= $99,360

Hence, dividend paid is $99,500 which reduces retained earnings by same amount.

Learn more about dividend paid here : https://brainly.com/question/6155709

Nathen’s home office

Answers

Answer:

Today, the Chinese own Armour and the famous Smithfield hams, together with the most quintessential American brand of all: Nathan's Famous hot dogs, with its iconic annual eating contest. ... It remains the largest total acquisition of a U.S. company by the Chinese.

Explanation:

g Molly is not married and has no children. She executes a will, disposing of her estate to her sister Nina. Later, Molly marries Owen. They have no children. Molly does not execute a new will before she dies. With respect to Molly's estate, Owen is entitled to

Answers

Based on the terms of the will, based on molly's estate, Owen is entitled to no part of her estate because the estate was already willed to her sister Nina.

According to the given question, we can see that Molly who was unmarried at the time of making her will, willed her estate to her sister and later got married to Owen and she died without making changes to her will.

The outcome is very clear as Owen is not entitled to anything, unless he is given by Nina, although he can contest the will in court, but Nina has the upper hand because legally she has the estate.

Read more about wills here:

https://brainly.com/question/25694947

For what kind of discrimination does the EEOC handle complaints?

race and sex only

race, sex, color, religion, or nationality

religion and nationality only

Answers

Answer:

2.)- race, sex, color, religion, or nationality.

Explanation:

:)

the answer is the second option

With all other economic forces held constant, an increase in labor productivity throughout the country implies
(1 point)
an increase in GDP due to an increase in labor hours
a decrease in GDP with labor hours held constant
an increase in GDP with labor hours held constant
a decrease in GDP due to an increase in labor hours

Answers

When there is an increase in labor productivity, we observe that there is an increase in GDP with labor hours held constant.

Labor productivity:

Is goods produced by labor within a certain period of time Increases when more goods are produced in that period

Labor productivity therefore relates to goods being produced when the labor hours are kept constant. An increase in labor productivity is good for GDP because it means that more goods are being produced.

In conclusion, increased labor productivity means increased GDP at constant labor hours.

Find out more at https://brainly.com/question/6430277.

Here y'all!

1. an increase in GDP with labor hours held constant

2. A graphic designer attends a week-long seminar and learns advanced skills she can apply to her work.

3. the discovery of a way to improve software speed that increases employee productivity

4. discovering an inexpensive way to make steel

5. false since technological improvements can lead to certain jobs becoming obsolete

Your welcome ;)

Thato, a manager for an insurance company, was disappointed in Miya, one of his direct reports. Miya’s job is to sell insurance, but she did not meet her quota for calls to potential new customers in the last month. Thato let Miya know that, “If this continues in the next 30 days, you’ll probably be let go.” Which behavior modification may Thato need to implement?

Answers

There are different ways used by people to modify behavior.  behavior modification may Thato need to implement is punishment.

Behavior modification is simply known to be act of changing the behavioral trend via the use different means such as learning techniques, positive or negative reinforcement, punishment etc.

Punishment is often done to weaken a specific behaviors. This is done through the linking of an unpleasant stimulus to a behavior. Example is Maya losing her job for not meeting her target

See full question below

Thato, a manager for an insurance company, was disappointed in Miya, one of his direct reports. Miya’s job is to sell insurance, but she did not meet her quota for calls to potential new customers in the last month. Thato let Miya know that, “If this continues in the next 30 days, you’ll probably be let go.” Which behavior modification may Thato need to implement?

a- negative reinforcement

b- punishment

c- extinction

d- positive reinforcement

Learn more about behavior modification from

https://brainly.com/question/6274014

James is employed by a large corporation with 400 employees. The corporation provides its employees with a no-cost gym membership at the local public YMCA. The cost of the membership is $60/month, which is completely paid for by James' employer for all employees. How much, if any, must James include in his yearly gross income related to this fringe benefit

Answers

James must include $720 in his yearly gross income related to the fringe benefit.

Where the value of the athletic facilities is to be excluded from an employee's gross income, the facilities must be situated on the employer's business location. Moreover, the athletic facilities must be used exclusively by the employees and their dependents.

Due to the above, James's membership is at a public YMCA, hence taxable.  

Also, James start date with the corporation was not given, he would however receive 12 months of the benefit.

12 × $60 = $720

Therefore, James must include the full cost of $720 paid by his employer in his yearly gross income related to the fringe benefit.

learn more at :  https://brainly.com/question/24744888

IRAC Briefing
BURNETT v. PURTELL
Who were the plaintiff and defendant? Were they merchants?
Describe the sales transaction.
Was there tender of delivery of the goods? Why is this issue important to the outcome of the case?
Who bore the risk of loss when the goods were destroyed?

Answers

no se inglés y tampoco se la respuesta si no si te la hubiera dicho

buying Fisher Industries, which has earnings per share of $1.50, 3.5 million shares outstanding, and a share price of $15. Brutus will pay for Fisher by issuing new shares. There are no expected synergies from the transaction. If Brutus pays no premium to acquire Fisher, what will the earnings per share be after the merger

Answers

If Brutus buys Fisher with new shares and with no premium, the new earnings per share after the merger would be $2.94

Brutus currently has 5 million shares which are valued at $32 for a total worth of:

= 5 x 32

= $160,000,000

Fisher has 3.5 million shares valued at $1.50 for a total worth of:

= 1.5 x 3.5

= $5,250,000

The shares to be issued can be found as:

= Share price of Fisher / Share price of Brutus x Fisher shares

= 15 / 32 x 3.5 million shares

= 1,640,625 shares

The total number of shares are now:

= Brutus shares + Shares issued to acquire Fisher

= 5 million + 1,640,625

= 6,640,625 shares

The new EPS would be:

= (Earnings of Brutus + Earnings of Fisher) / Number of shares

= ( (3 x 5 million) + (1.50 x 3.5 million)) / 6,640,625

= $2.94 per share

In conclusion, the new EPS is $2.94

Find out more on EPS at https://brainly.com/question/25788016.

Give 3 sample of best practice, how airline can improve "Cost" efficiency?

Answers

It is called "cost efficiency" to the way in which a company, through specific commercial organization actions, manages to reduce the costs necessary to obtain a certain profit.

Thus, they seek to minimize the costs and operational losses of the company, with the aim of maximizing profits.

In this way, 3 ways in which an airline could increase its cost efficiency are:

fly to places with high demand, reducing presence in not so popular destinations. reduce the time on the ground for each plane, so that it generates money almost constantly. perform optimal maintenance on each plane, to avoid breakages.

Learn more about efficiency in https://brainly.com/question/6672666






who here has a business plan




Answers

I am still working on my business plan.

Daisy is a director of Extraction Corporation. She opposes an offer to merge Extraction with Fill Inc. because she would lose her board position. Daisy is most likely liable for breach of

Answers

Considering the case about above, Daisy is most likely liable for breach duty of loyalty.

Daisy is been regarded as director of Extraction Corporation, which means she should be loyal to that office by following the protocol in performing tasks.

Duty of loyalty simply implies that individual should be loyal to his or her office by following the ethics of the organization.

Therefore, Daisy breached duty of loyalty because, of her opposition to merge the Extraction.

Learn more about breached duty of loyaltyat:https://brainly.com/question/14319735

Gene is looking for a loan so that he can buy a car. There are a few different banks where he can apply for a loan. What should he be looking for in a loan?
OA. a low interest rate
OB. a good credit score
OC. an open line of credit
OD. a differed payment plan

Answers

Answer:

The Answer To This Question is B. a good credit score.

Explanation:

Are the consequences of your decision something you can live with and feel proud of when other people find out? Why or why not?

Answers

At the end of the day people need to respects everyone’s decisions because it always has consequences depending on what they did , if someone is doing so good then they should feel proud it can be so many things it could be people that have mental issues and it stops them from doing some stuff but then they do something for them to feel good breaking the cycle , like there’s other who choose to do bad stuff now some people think is okay but it’s really not and consequences will always be there

If a seller can create switching costs for its product, then: ________________

a. customers will find it more costly to stay with the company than to switch to another seller.
b. it increases its costs by producing several versions of the product so customers can switch between versions.
c. it is difficult or costly for the seller to switch to producing a different product.
d. it is difficult or costly for customers to switch to another seller of the product.

Answers

It should be noted that if a seller can create switching costs for its product, in this case, B:it increases its costs by producing several versions of the product so customers can switch between versions.

Switching costs can be regarded as the costs that is been paid by a consumer due to switching of a brands or products.

Switching costs may comes in term of  monetary as well as effort-based cost.

We can conclude that if a seller can successfully create switching costs as regards her product, then it results to more gains.

Learn more about switching costs at:

https://brainly.com/question/13186211

Knapp Industries began business on January 1, 2018 by issuing all of its 1,550,000 authorized shares of its $1 par value common stock for $30 per share. On June 30, Knapp declared a cash dividend of $1.25 per share to stockholders of record on July 31. Knapp paid the cash dividend on August 30. On November 1, Knapp reacquired 310,000 of its own shares of stock for $35 per share. On December 22, Knapp resold 155,000 of these shares for $41 per share.

Required:
a. Prepare all of the necessary journal entries to record the events described above.
b. Prepare the stockholders' equity section of the balance sheet as of December 31, 2018 assuming that the net income for the year was $8,000,000

Answers


Journal Entries- Knapp
Date Accoutn Tittle Debit Credit
1-Jan Cash (1550000*35) $54,250,000.00
Common Stock (1550000*1) $1,550,000.00
Additional Paid in Capital - CommonS tock $52,700,000.00
30-Jun Retained Earning $1,937,500.00
Dividend Payable ( 1.25*1550000) $1,937,500.00
30-Aug Dividend Payable $1,937,500.00
Cash $1,937,500.00
1-Nov Treasury Stock $10,850,000.00
Cash (310000*35) $10,850,000.00
22-Dec Cash (155000*41) $6,355,000.00
Treasury Stock (155000*35) $5,425,000.00
Additional Paid in Capital - Treasury Stock $930,000.00
Stockholder Equity Section
Common Stock $1,550,000.00
Additional Paid in Capital - CommonS tock $52,700,000.00
Additional Paid in Capital - Treasury Stock $930,000.00
Retained Earning (8000000-1937500) $6,062,500.00
Less: Treasury Stock (10850000-5425000) -$5,425,000.00
Total Stockholder Equity $55,817,500.00

Arguments against industrial policy include all of the following except Select one: a. foreign industrial policy success has been variable. b. The need to rescue "sunset" industries. c. the need to promote "sunrise" industries. d. reduces market efficiency

Answers

b) the need to rescue “sunset” industries, also if you search “ BUS 345: Chapter 11 MC” on quizlet it will give you all the answers on this!

The best answer to both the flatness and horizon problems is Group of answer choices dark energy. the inflationary epoch. decoupling. the Steady State Theory. the GUT theory.

Answers

It should be noted that best answer to both the flatness and horizon problems is inflationary epoch.

The inflationary epoch van be regarded as the period in the evolution of the early universe, at this period there was an expansion.

According to inflation theory, the earth were recorded to experience great horizon problems and exponential expansion.

Therefore, inflationary epoch brings about both flatness and horizon problems

Learn more about inflationary epoch at:

https://brainly.com/question/11356270

Which business policy would most likely help a single parent family?

Answers

Work in restaurant like Mac and bohari

How old does a senator have to be?

Answers

Answer:

Article 58.- To be a senator, the same requirements are required as to be a deputy, except age, which will be 25 years old on the day of the election.

Explanation:

and i'm mexican

to be a senate you have to be at least thirty years old

The ________ method of setting an advertising budget typically overlooks how promotion affects sales.

Answers

Based on business management, the affordable method of setting an advertising budget typically overlooks how promotion affects sales.

What is the Affordable method in the Advertising budget?

The affordable method in the advertising budget is the cheap means of making an advertisement.

However, when making cheap or affordable advertisements, most people tend to overlook the effects of promotion efforts on sales.

Hence, in this case, it is concluded that the correct answer is "Affordable method."

Learn more about the Advertising budget here: https://brainly.com/question/24967768

explain why maximizing Production does not always maximize profit​

Answers

When the price to produce a product is higher than the income the product, makes, money is lost. Just how too little supply is dangerous to a company, so is too much. A balance between supply and demand is essential to maximize profit.

Horizontal Analysis of Income Statement For 20Y2, McDade Company reported a decline in net income. At the end of the year, T. Burrows, the president, is presented with the following condensed comparative income statement:
McDade Company Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $ 16,800,000 $ 15,000,000 Cost of goods sold (11,500,000) (10,000,000) Gross profit $ 5,300,000 $ 5,000,000 Selling expenses $ (1,770,000) $ (1,500,000) Administrative expenses (1,220,000) (1,000,000) Total operating expenses $ (2,990,000) $ (2,500,000) Operating income $ 2,310,000 $ 2,500,000 Other revenue 256,950 225,000 Income before income tax expense $ 2,566,950 $ 2,725,000 Income tax expense (1,413,000) (1,500,000) Net income $ 1,153,950 $ 1,225,000
1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Use the minus sign to indicate an amount or percent decrease. If required, round percentages to one decimal place.
2. To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in (1).

Answers

1. The calculation of the horizontal analysis of McDade Company's Comparative Income Statement for the Years Ended December 31, 20Y2 and 20Y1 is as follows:

                                                                      20Y2      %                20Y1        %

Sales                                                   $16,800,000   112%  $ 15,000,000 100%

Cost of goods sold                              (11,500,000)  115%    (10,000,000) 100%

Gross profit                                         $ 5,300,000 106%  $ 5,000,000   100%

Selling expenses                                $ (1,770,000) 118% $ (1,500,000)  100%

Administrative expenses                      (1,220,000) 122%    (1,000,000)  100%

Total operating expenses                 $(2,990,000) 120% $(2,500,000)  100%

Operating income                                $2,310,000  92%   $2,500,000   100%

Other revenue                                          256,950  114%         225,000   100%

Income before income tax expense $2,566,950  94%    $2,725,000   100%

Income tax expense                              (1,413,000) 94%     (1,500,000)   100%

Net income                                          $ 1,153,950  94%   $ 1,225,000    100%

The calculation of the Trend Analysis, with two examples is as follows:

Sales = 112% ($16,800,000/$15,000,000 x 100%)

Cost of goods sold = 115% ($11,500,000/$10,000,000 x 100%)

2. The significant relationships revealed by this horizontal analysis showed that sales revenue and gross profit increased by 12% and 6% respectively from 20Y1's figure, this increase did not translate into increased net income.  Instead, the net income decreased by 6% in 20Y2 as a result of increased operating expenses, which witnessed a 20% increase.

Thus, The horizontal analysis of McDade Company's comparative income statement involves the calculation of percentage changes from 20Y1 to the 20Y2.  The dollar amount changes can also be calculated.

Learn more: https://brainly.com/question/25806750

Impact of hiring based on experience rather than qualification

Answers

Answer: Those with experience rather than qualification will be able to complete work quickly and efficiently while being able to responsibly handle problems.

Explanation:

Of course those with qualification could work well, however experience usually creates a great gap in between those with and without experience.

If this answer is incorrect, simply correct it or mention that it is incorrect.

Patti, a high school student, watches a financial show on television. The host has a college degree in business. The show is about how teenagers who start saving early have a big advantage. This information is _____.

Answers

this information is true

DeAnna is the supervisor for the engineering team at her company. A task comes down from her leadership to allocate funding by noon that day. She doesn't have time to discuss this with the team, so she allocates the money where she sees fit. What management approach does this best exemplify

Answers

Answer: the answer is authority rule

As a manager, if you wanted to influence what employees do in situations lacking clear company rules or expectations, what should you do

Answers

As a manager if you want to influence what employees do in situations that lack clear company rules or expectations, you should create a strong culture.

Creating a strong culture is very important in the workplace. It is important because it helps to influence the discretionary behaviors that employees have in the work place.

It helps them to know what they should do in given situations where the the rules and the expectations are not clear.

This is very important because an organization may not have policies or rules for every given situation in the work place. The culture of the organization would be very useful in this case.

Read more on company rules

https://brainly.com/question/14913157?referrer=searchResults

Other Questions
Internet domain names are linked to trademark issues. Technology makes it easy to copy and distribute music and movies without paying royalties. Business conducted on the internet raise security and privacy issues. What legal concerns are raised by these issues In todays labor force, workers are waiting longer to retire.Please select the best answer from the choices providedTF I need help fixing Love Nikki game on my phone. I had it on my phone and it worked just fine but then igot a new phone and tried theDownload it but when I opened up the app it kept saying update the game so I clicked update but then after that it wouldnt even update and it just said update feel rule out mistake. I thought it was just my new phone so I went back to my other phone but it was doing the same thing. I have 5G on my new phone so internets not the problem. does anybody know how to fix it so I can play the game again? According the excerpt, the slave trade in West Africa:a) was a consequence of European invasion and overthrow of West African kingdoms.b) was driven by wealthy African merchants intent on profiting from European exploration.c) existed prior to contact with Europeans but was stimulated by European demand for slaves.d) was widely condemned by European aristocracy, so it was conducted by black-market merchants bypassing Spanish and Portuguese law. Beyonce bench presses 1.5kn using 3000j of energy . Calculate the distance moved by the weights A car travels 15 km in 13 minutes. What is its average speed in km/h? Josephine is looking for a new job as a plumber. She responds to a classified ad for a position that pays 54K. What would her weekly salary be to the nearest cent if she gets this job? A. $855.77 B. $1,038.46 C. 1,125.00 D. $1,057.69 I need helpppoppppppppppppp Why did photography come to a halt during the Civil War in the south? The length of the opposite side of a right triangle is 2cm longer than the length of the adjacent side. The hypotenuse is 4cm longer than the adjacent side. Use a quadratic equation to determine the perimeter of the triangle. PLEASE HELP Calculate the area of the quarter circle estimate using 3.14 for pi(Please do say click this link for the answer and I didnt mean to click that answer) Define viral plaque forming unit . Wxyz is a rectangle what is the m of yzx Section 1: Basic Energy Relationships1. Click/tap the Start button and observe the motion. View the barcharts and the velocity value as the coaster car moves. Completethe following paragraph by entering total mechanical energy(ME), kinetic energy (KE), and potential energy (PE). Thelabeled locations refer to the graphic at the right.As the coaster car rolls down the track from A to E, the________ values decrease and the _______ valueincrease and the ________ values remain constant. The_______ is greatest at point A and smallest at point E.However, the _______ is smallest at point A and largestat point E.Section 2: Hill Design2. Click/tap on the Bumps tab at the top of theInteractive. Then drag the grey circles to modify thetrack so that it looks like the track design at the right.Pay attention to the background grid to help with thedesign. Note that Dot G is at the same height as Dot E;make sure that the same is true of your final design.3. Run the simulation. Does the coaster car travel as highas point H? ___________ Give an explanation for whyit does or doesn't reach point H. 2.0,3.1,4.2,5.3 what is the next three numbers and what are they adding by Note: Enter your answer and show all the steps that you use to solve this problem in the space provided.Use the quadratic formula to solve the equation.X^2 - 7x 6 = 0 Identify the following element: a metal, 2 valence electrons, +2 oxidation number, valence electrons are in period 4. Which expression is equivalent to x6 - 16x^2?o x2(x - 2)2(x2 + 4)o x2(x - 2)2(x + 2)2o x2(x - 2)(x + 2)(x2 + 4)o x2(x - 4)(x2 + 4) Determine whether each quadrilateral is a parallelogram. Justify your answer. What is the common ratio for the geometric sequence?4/3,4, 12, 36,...Enter your answer in the box.