Answer:
2.33; the demand for movies is elastic
Explanation:
Below is the calculation for price elasticity of demand:
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)
Here, the change in quantity demanded is defined as
= Q2 - Q1
= 30 - 15
= 15
The average quantity demanded is
= (30 + 15) ÷ 2
= 22.50
The change in price is computed as
= P2 - P1
= $8 - $6
= $2
And the average price is
= ($8 + $6) ÷ 2
= 7
Thus, after computing, the result for price elasticity of demand is 2.33
As we were not instructed on the method for calculation, the mid-point formula was utilized.
From this calculation, we deduce that the demand for movies is indeed elastic.
Answer:
The accurate choice is the second option: Supply Chain.
Explanation:
Essentially, the term "Supply Chain" in the business context signifies the entire sequence of processes that a product undergoes from inception to the point of sale to the final customer, who effectively completes the cycle. Furthermore, this concept incorporates the various firms involved in the overall production of the item, thereby encompassing all operations associated with the movement and conversion of the product.
Answer:
limits the simultaneous development of new products.
Explanation:
Product screening serves to evaluate innovative concepts, strategies, and marketing trends to assess their practicality for business investments.
A variety of criteria are utilized to determine if the idea aligns with the company's goals, as well as to verify its potential for generating returns.
[[TAG_15]]Thus, product screening effectively reduces the number of product concepts being pursued concurrently.[[TAG_16]]
Answer:
Explanation:
The supply equation for pork is expressed as Q = 178 + 40p - 60p_h
For a hog price of 1.50:
Q = 178 + 40p - 60(1.50)
= 178 +40p -90 = 88+40p
If the price of hog rises to 1.90:
Q = 178 + 40p - 60(1.90)
= 178 +40p - 114 = 64+40p
Answer:
Positive ROI
Explanation:
Investing in education is often regarded as one of the best decisions someone can make. Although it's challenging, it holds the potential to enhance one's life and future prospects.
In this instance, Luis utilized funds to obtain a certificate for air conditioning repair. His study lasted for six months, likely culminating in a certification exam. Following his success, he incurred debt, which is not ideal. However, the silver lining is that Luis now enjoys a significantly higher income. His improved salary enables him to repay his loan within two years, which is quite brief. Consider how remarkable it would be to settle your college debts in merely two years, compared to an average of twenty years.
