Answer:
a. 1.08
b. Supply in the market for motorcycles is less elastic than supply in the market for pancakes.
Explanation:
Note: This question is not complete. The complete question is therefore provide before answering the question as follows:
Consider two markets: the market for motorcycles and the market for pancakes. The initial equilibrium for both markets is the same, the equilibrium price is $3.50 , and the equilibrium quantity is 29.0 . When the price is $11.75 , the quantity supplied of motorcycles is 57.0 and the quantity supplied of pancakes is 111.0 . For simplicity of analysis, the demand for both goods is the same.
a. Using the midpoint formula, calculate the elasticity of supply for pancakes? Please round to two decimal places.
b. Supply in the market for motorcycles is:
o. less elastic than supply in the market for pancakes.
o. More elastic than supply in the market for pancakes.
o. There is no enough information to tell which will have a higher elasticity.
o. The same elasticity as supply in the market for pancakes.
The explanation to the answers is now given as follows:
a. Using the midpoint formula, calculate the elasticity of supply for pancakes? Please round to two decimal places.
The elasticity of supply for pancakes can be calculated as follows:
Percentage change in quantity of pancakes supplied = ((New supply - Old supply) / ((New supply + Old supply) / 2)) * 100 = ((111 - 29) / ((111 + 29) / 2)) * 100 = 117.142857142857%
Percentage change in price of pancakes = ((New price - Old price) / ((New price + Old price) / 2)) * 100 = ((11.75 - 3.5) / ((11.75 + 3.5) / 2)) * 100 = 108.196721311475%
Therefore, we have:
Elasticity of supply of pancakes = Percentage change in quantity of pancakes supplied / Percentage change in price of pancakes = 117.142857142857% / 108.196721311475% = 1.08268398268398 = 1.08
Therefore, the elasticity of supply of pancakes is about 1.08. Note that since the price elasticity of demand of about 1.08 is greater than 1, it implies that the relationship between the quantity supplied and the price of pancakes is elastic.
b. Supply in the market for motorcycles is:
This can be determined by calculating the elasticity of supply for motorcycles and compare it with that of pancakes follows:
Percentage change in quantity of motorcycles supplied = ((New supply - Old supply) / ((New supply + Old supply) / 2)) * 100 = ((57 - 29) / ((57 + 29) / 2)) * 100 = 65.1162790697674%
Percentage change in price of motorcycles = ((New price - Old price) / ((New price + Old price) / 2)) * 100 = ((11.75 - 3.5) / ((11.75 + 3.5) / 2)) * 100 = 108.196721311475%
Therefore, we have:
Elasticity of supply for motorcycles = Percentage change in quantity of motorcycles supplied / Percentage change in price of motorcycles = 65.1162790697674% / 108.196721311475% = 0.601832276250881 = 0.60
Therefore, the elasticity of supply of motorcycles is about 0.60. Note that since the price elasticity of demand of about 0.60 is less than 1, it implies that the relationship between the quantity supplied and the price of motorcycles is inelastic.
Conclusion:
Based on the calculation above, supply in the market for motorcycles is less elastic than supply in the market for pancakes.
The reason is that the relationship between the quantity supplied and the price of pancakes is elastic but the relationship between the quantity supplied and the price of motorcycles is inelastic.
What should you bring to an interview? When should you arrive at the interview? How should you act at the interview?
Answer:Arrive at the interview about 30 minutes before hand just in case you go in early or if they have to push it back. At an interview just act like yourself, don't try and be someone your not just to wow the person. And what to bring to an interview? well your paperwork if they gave you any, your phone if you need to put something in your calendar right then and there or add someone's number.
Explanation:
Which one of the following is not considered a scarce resource? *
Capital Resources
Human Resources
Natural Resources
Intellectual Property Resources
Answer:
Intellectual Property Resources
Explanation:
Scarce resource refers to a type of reserouces that has limited amount.
Intellectual property resources are generated from a person's mind. It counted the economic value of ideas, innovation, design, or creativity that people have. Since all people can generate these things without any limit, we don't consider Intellectual property as a Scarce resource.
who knows where you cant get your mom to stop yelling
Answer:you cant my parents do the same
Explanation:
theres no help
Answer:
if u mom yells at you for a certain (for example if she yells at u for not cleaning up then u should maybe clean so she wouldn't have to yell at u for that reason)
Explanation:
Why do you think the graphic designer might have a hard time seeing eye to eye with a copywriter. Help me please!!
Answer:
A graphic designer focuses on the visual marketing of yhings/services. A copywriter sales with the power of words
ps: you should look up Dan Lok copywriting.
An increase in the price of peanut butter will:
a. Cause the demand curve for jelly to shift to the left.
b. Cause the demand curve for jelly to shift to the right.
Oc. Cause the demand curve for peanut butter to shift to the right.
Od. Cause the demand curve for peanut butter to shift to the left.
Answer:
a. Cause the demand curve for jelly to shift to the left.
Explanation:
Peanut butter and jelly are complementary goods. These are products manufactured and sold independently but used together. Complimentary goods give higher utility to customers when used in conjunction.
Complementary goods have a joint demand. If the demand for one product increases, demand for the other good also rises. An increase in the price of butter results in a reduction in its demand. The demand for butter will experience movement along the demand curve.
Jelly will also experience reduced demand as a result of a decline in the demand for peanut butter. Because the reduced demand for jelly is for reasons other than a price change, the demand curve for jelly shifts to the left.
If there is an increase in the price of peanut butter, this will b. Cause the demand curve for jelly to shift to the right.
Relationship between Peanut butter and jelly. They are known as complementary goods. They are used together so price changes to either will affect the other as well.With the price of peanut butter increasing, less people will want to buy it. Those people who don't want to buy it will also not want to buy jelly which would lead to the demand curve for jelly shifting left.
In conclusion, option B is correct.
Find out more about complementary goods at https://brainly.com/question/1354329.
The amount of a market that a producer controls is called market share. How is market share related to pure competition?
Answer:
pure competition ids defined as a market structure with many fully informed buyers and sellers in an identical producer and ease of entry. if there were more market shares, there would be more competition.
Explanation:
What is the definition of a team? What is teamwork? Why is learning to work well with others important in life? What is one issue that hinders you from wanting to work with other people? What is one thing you can change so you can be successful when working in teams?
Answer:
Team work is when every one comes together to do or accomplish something and the definition of team is a group of people that play for the same thing it's important in life because when you get into the real world you will have to work with other people even if you don't like them one issue that hinders you from wanting to work with other people is you don't like those other people one thing you can change so you can be successful when working in teams is try to get along with everyone else on the team.
One of the roles of the US government is to ensure that the country is financially stable. Which of the following is the term for the government’s power to spend and tax? Select one: a. Fiscal policy b. National debt c. Expansionary policy d. Contractionary policy
Answer:
Fiscal policy
Explanation:
Fiscal policy refers to the actions of governments of adjusting taxation and spending to influence economic direction. The governments aim at maintaining stable prices and steady economic growth. Though several agencies, the state monitors economic indicators and adjusts its spending and taxation accordingly.
The fiscal policy combines with monetary policy to achieve the desired effects. In times of recessions, fiscal policy is used to stimulate economic growth.
Job satisfaction can be lost for all of the following reasons EXCEPT:
a.
Lack of opportunities for promotion
b.
Bickering with co-workers
c.
Being recognized for a job well done
d.
Having little or no say in decisions that affect you
Answer:
Being recognized for a job well done
Explanation:
4. An entrepreneur makes a part used in the auto industry that he sells for $2.65 each Yearly sales of
this part have been 20,400 a year for the last three years. The customer has cut production and has
reduced its purchase of these parts by 35 percent. How much yearly revenue will the entrepreneur
lose as a result?
Answer:
$18,921
Explanation:
The price per part is $2.65.
yearly sales have been 20,400 units.
Production has been cut by 35%; the entrepreneur will sell less than 20,400 units.
new sales volume will 20,400- (35% of 20,400)
=20,400 units- 7,140 units
=13, 260 units
Sales will decrease by 7,140 units. in Monetary value, the reduction will be
=7140units x $2.65
=$18,921
Revenue lost = $18,921
Question 7
1 pts
The Cracked Pot Potteryware company decided to sell its coffee mugs
in the local espresso shops. What type of marketing decision was this?
A. price
B. place
C. promotion
D. product
Answer:
D product
Explanation:
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yo my old account got disable so i'm on this account plz help me get back up to the top
Facial expressions aid in all of the following EXCEPT?
O Setting the tone of the conversation
O Providing feedback
O Providing clues of audience comprehension
Breaking through the stress in the room
Answer:
Breaking through the stress in the room
In two or three sentences, explain why real GDP per capita does not reflect the actual distribution of wealth.
Answer:
Real GDP per capita shows the level of output in a country divided equally by the number of people living in a country. But, in reality, output may not be distributed equally among everyone in the country.
Explanation:
In order to improve the cash flow of the company, neal emerald decided to postpone depositing all employment taxes a few months ago. he told his sales manager, " i’ll pay up before the irs catches up with me." what risks does emerald face by not upholding his responsibility for the collection and payment of employment taxes? is this ethical if he indeed does pay before he gets caught? why or why not?
The correct answer to this open question is the following.
No, it is not ethical.
The risks that Emerald faces by not upholding his responsibility for the collection and payment of employment taxes is that, first of all, this is not correct. He has an obligation, a moral and a fiscal obligation to report on time the employment taxes. That is why his actions are not ethical although he indeed does pay before he gets caught. That decision could be a business decision to buy some time and trying t fix other problems, but a true leader does not need to cover things with wrongdoings. What can of example is he showing to his employees?
Later on, on another occasion, he won't have the moral authority to demand ethical behavior from his employees. He is not setting an example.
Prepare a net worth statement for Ben Lingo based on this information: He owns a car worth $2,000, but owes $1,500 on it at the bank. Ben has $150 in his savings and $82 in his checking account. His personal property inventory totals $1,200, and he also owes $80 to his credit union.
Answer:
Ben Lingo's Net Worth Statement:
Assets:
Cash $82
Savings $150
Car $2,000
Inventory $1,200
Total Assets = $3,432
Liabilities:
Car loan $1,500
Credit Union loan $80
Total Liabilities = $1,580
Net Worth = Total Assets - Total Liabilities
= $3,432 - $1,580
= $1,852
tutor can be inexpensive or possibly free t or f
Answer:
T true on e2020
Explanation:
Answer:
True
Explanation:
I took the test and got a 100%
Cupola awning corporation introduced a new line of commercial awnings in 2018 that carry a two-year warranty against manufacturer's defects. Based on their experience with previous product introductions, warranty costs are expected to approximate 3% of sales. Sales and actual warranty expenditures for the first year of selling the product were:
Answer and Explanation:
1. Yes, this situation represents a loss contingency.
The occurrence of warranty liability is probable and the amount can be reasonably estimated so it represents a contingent liability.
2.
a. Accounts receivable Dr, $5,780,000
To Sales $5,780,000
(Being the sales is recorded)
b. Warranty expense Dr, $173,400 (5,780,000 × 3%)
To Estimated warranty liability $173,400
(Being the warranty expense is recorded)
c. Estimated warranty liability Dr, $38,500
To Cash, wages payable, parts and supplies, etc. $38,500
(Being cash paid is recorded)
3 .Liability = $173,400 - $38,500
= $134,900
What are the opportunities of an entrepreneur
Imagine that you own a local fitness gym in your hometown called "U-Fit." You have done well over the last few years and have enough capital to acquire another hometown company, "Power Kore, " that makes nutritional protein shakes. Why would it be a good idea for you to undertake a vertical merger or acquisition of this sort?
Answer: to increase synergies and have more supply chain control.
Explanation:
A vertical merger is when two or more companies or organizations which are in charge of the provision of supply chain functions that are different merge for a common good.
The main idea behind the merger is to help increase synergies, reduce cost, increase efficiency and productivity and also for more control of the supply chain to be gained.
You are a consultant helping to turn around a factory that hasn't adapted to modern manufacturing standards. They receive several truckloads of raw materials each day, which are recorded by hand in a logbook kept at the loading dock. Each of the salesmen keeps a running tally of orders and files them in the sales office. The deliveries are made once a truck is filled. What aspects of this factory can be significantly improved by introducing an EPR (enterprise resource planning) system?
environmental management
sales and revenue
human resource management
equipment maintenance
Answer:
use of modern technology
Explanation:
to make work and tallying
easy
Answer:Sales and revenue
Explanation:
This is standard business marketing
A.J. And April Couch just opened a computer store in a small community. Before opening the store, they listened to their SBA counselor's warnings about the importance of having balanced experience, that is, marketing, finance, and personnel experience in the computer-store business because
Answer: about two out of three small firms close within five years of their founding
Explanation:
According to a research that was done, it was found that out of three small firms, two close within the first five years they were established.
The reasons that were said to have caused this failure were funding challenges, faulty business model, inadequate management team and marketing initiatives that were unsuccessful.
Therefore, small business owners sgoutd try as much as possible to curtail risks that could possibly lead to the downfall of the business and also make sure the consumers are willing to purchase the product at the price given and that the product satisfies their needs.
what kind of sugar is primarily used in preparing icing?
Answer:
granulated sugar
Explanation:
powdered sugar or confectioner's sugar is finely ground granulated sugar that is mixed with a small amount of cornstarch to prevent caking.
If scientists discover that eating bacon reduces cholesterol levels:
a. The demand for bacon will increase.
b. The demand for bacon will decrease.
c. There will be fewer pounds of bacon consumed.
d. There will be no effect on the consumption of bacon.
Answer:
a. The demand for bacon will increase.
Explanation:
Scientists and other experts are known to influence customer perceptions of consumer products. Many customers make buying decisions based on expert opinions and reviews, which can greatly impact sales.
If scientists say that eating bacon reduced cholesterol, consumers' perceptions of bacon will change. Since this is positive or desired news, customers will increase bacon consumption. Bacon will attract many new customers, which will lead to an increase in its demand.
Which of these is a way to increase your resources for higher education?
A. Getting a job and saving money
B. Choosing the most expensive school you can find
C. Spending more than you have
D. Not taking out any loans whatsoever
Answer:
A
Explanation:
by getting a job you are preparing yourself for the world ahead of you and by saving money you get access money to use later on.
Answer:
A
Explanation:
Using open body language helps send which kind of message?
Positive
Negative
Aggressive
Passive
Explanation:
positive there you goo
Answer:
Positive
Explanation:
Body language is a mix of gestures, postures and expressions. Use it to improve your communication with others. This also helps seem more engaged
Evaluate this topic idea:
“Teachers gave 18.5% more homework in 2007 than in 2005.”
a.
The topic is satisfactory
c.
The topic is too narrow
b.
The topic is too broad
d.
This is a thesis statement
Answer:
C. The topic is too narrow
hope this helps! :)
An academic evaluation of the topic, “Teachers gave 18.5% more homework in 2007 than in 2005” shows that d. This is a thesis statement.
What is a thesis statement vs a narrow topic?A narrow topic lacks breadth, making it impossible for a meaningful discussion of the topic.
A topic should have some breadth, with the thesis statement narrowing it down to a manageable length.
A thesis statement states the author's position on the topic.
Thus, an evaluation of the topic, “Teachers gave 18.5% more homework in 2007 than in 2005” shows that d. This is a thesis statement.
Learn more about thesis statements at https://brainly.com/question/2094985
#SPJ2
Question 12 of 40
Eric wants a new motorcycle. He visits a local motorcycle shop and finds one
that has all the features he's looking for. The salesperson tells Eric the
motorcycle is currently selling for $2,000. Not too long ago, Eric saw that
same make and model for $1,700 at another shop. Eric suggests a price of
$1,500 for the motorcycle and they settle at $1,800. Which of these prices is
the market price?
A. $2,000
B. $1,500
O C. $1,700
D. $1,800
SUBMIT
Answer:
D. $1,800
Explanation:
The market price is the amount that a product or service trades for, as determined by demand and supply forces. It is the most current price that a good, service, or share has traded. The market price is the actual amount that can be realized when a product or service is sold.
The market price for the new bicycle is $1800. The salesperson represents the supply side, while Erick is on the demand side of the market. They agree on $1800. This price is where demand meet supply and is the market price.
Answer:
C. $1700
Explanation:
Materials derived from natural resources clearly defines which of the following?
A.Processed goods
B.Raw goods
C.Finished goods
D.Intangible goods
Answer:
B.Raw goods
Explanation:
Natural resources are useful materials extracted from the earth for use in the production of other goods. The extracted materials are refined into final products or used as raw materials to make other goods. For example, gold and oil are extracted and refined into marketable products. Water and wood are raw materials used in producing paper.
Natural resources come from nature. They are extracted raw and processed into other products or used as raw materials to produce other goods.
The cost of a postsecondary education increases with the length of time involved in the program. O True or False NEXT QUESTION O ASK FOR HELP
Answer:
true
Explanation: