Answer: The result is -2.42
Explanation:
P1 = $4 Q1 = 800
P2 = $4.50 Q2 = 600
Applying the midpoint formula, we calculate:
For price:
P2 - P1/(P2 + P1)/2
= 4.5 - 4/(4.5 + 4)/2
= 0.5/4.25
= 0.12
For quantity:
Q2 - Q1/(Q2 + Q1)/2
= 600 - 800/(600 + 800)/2
= -200/700
= -0.29
The price elasticity of demand is calculated as change in quantity/change in price
= -0.29/0.12
= -2.42.
Answer:
The answer is $59.50.
Explanation:
The calculations based on the scenario are as follows:
Profit on futures price = After futures price - before futures price
$63.50 - $59
= $4.50
Thus, the effective price that the company pays can be calculated using this formula:
Effective price paid = Spot price in July - Gain on futures price
= $64 - $4.50
= $59.50
Lacoste is renowned for its cotton knit shirts, recognized for their high quality and the status they confer upon wearers, leading to premium pricing. Consequently, Lacoste enjoys brand protection from competitors and from market price pressures.
Company 4's times interest earned ratio stands at 14.3.
Answer:
-2.3%
Explanation:
Labor productivity is a measure of the output generated per unit of labor.
- labor productivity = total output / total labor hours
Total labor hours in April = (6 employees x 40 hours) + (4 employees x 25 hours) = 340 hours. Thus, labor productivity in April: total output = $60,000 / total labor hours = $176.47 per labor hour.
Total labor hours in May = (6 employees x 40 hours) + (2 employees x 25 hours) = 290 hours; thus labor productivity in May = total output / total labor hours = $50,000 / 290 hours = $172.41 per labor hour.
The change in labor productivity is calculated as follows: ($172.41 - $176.47) / $176.47 = -2.3%.
