Knowing a product's price elasticity allows economists to:
The measure of the relationship between a change in the quantity demanded of a product and a change in its price is called price elasticity. Since profit is equal to total sales minus total costs, profit will increase as the price is increased or when the demand for a product is inelastic. It is therefore important for the economists to know a product’s or a service’s elasticity in order to set their prices in such a way that they can maximize their revenues and profits.
Jordan loaned taylor $1,200 on march 15, 2009. taylor returned $1,260 on march 14, 2010. inflation was 2% over the 1-year period. what is the real interest rate that taylor paid?
a.2%
b.3%
c.5%
d.7%
Baksheesh," which is an expected procedure in many developing countries, is another term for:
Final answer:
Baksheesh, also known as a bribe or tip, is an expected procedure in many developing countries. It involves giving money or gifts to someone in a position of power or authority in order to receive preferential treatment or to expedite a service. Baksheesh is often seen as a way to navigate through daily life in these countries where official systems may be inefficient or corrupt.
Explanation:
Baksheesh, also known as a bribe or tip, is an expected procedure in many developing countries. It involves giving money or gifts to someone in a position of power or authority in order to receive preferential treatment or to expedite a service. Baksheesh is often seen as a way to navigate through daily life in these countries where official systems may be inefficient or corrupt.
For example, in Kenya and some African countries, people use mobile banking apps like Mpesa to transfer money and pay bills, bypassing the need for traditional banking systems. This is a form of informal practice similar to baksheesh, which allows people to access financial services that may not be readily available.
Loan sharking is another practice related to baksheesh, where money is lent at high interest rates with illegal methods used to obtain repayment. This can perpetuate a cycle of debt and exploitation for those who cannot access formal lending options.
Promissory estoppel is a(n) _____ doctrine that permits a court to order enforcement of a contract that lacks _____.
Your company manufacturers children's toys, and you want to keep the prices as low as possible for individual consumers. Which of the following things can you do to keep prices low?
The ________ is the channel from raw materials to components to final products that are carried to final buyers.
When a mortgage loan has been paid in full, it is important for the borrower to be sure that?
In the united states, approximately _____ deaths per year are directly attributable to obesity
ECONOMICS- A family is trying to sell their home at point 2 on the graph.
How might this affect the sale of their home? Check all that apply.
1. Their home will likely sell for a low price.
2. Their home will likely sell for a high price.
3. Their home will likely take longer to sell.
4. Their home will likely increase in value if they wait.
5. Their home will likely sell quickly.
Answer: 1, 3, 4
Explanation:
The mountains of the greater antilles were of little commercial value because
Q 7.1: a _____ would be properly classified as cash.
At a retail store, the display racks on which clothes are hung, the shelving, and the cash registers are all examples of ________.
Treptron inc., a software company, has a standing plan that details the specific set of steps to be undertaken when an employee delivers consistently poor performance during his or her probation period. given this information, the standing plan in this scenario can be referred to as a(n) _____.
The purpose of the five step marketing research process is to
Consideration of the firm's overall objectives does not influence the final selection of a target market segment.
Depository institutions balance risk and return by _______.
Human interest stories are popular because they:
A. focus on facts and statistics.
B. are easy for us to relate to.
C. provide imminent news.
D. create emotional distance.
Answer:
B. are easy for us to relate to.
An advertising campaign that attempts to reposition its product is an example of
Labeling researchers focus on "extra legal" variables to explain differences in arrest and prosecution rates as well as entencing disparity
Under existing law, killing someone during a sleepwalking episode is considered:
Katie wants to order a new shirt online. What should she do once she gets to the store's website?
a. Type your email address into your web browser
b. Click on hyperlinks that take you to cookies
c. Type in the store's URL or search for the store's name in a search engine
d. Find the shirt and add it to the electronic shopping cart
Answer:
Find the shirt and add it to the electronic shopping cart.
Explanation:
Was the tea act a direct or indirect tax
Gayla tells frank that she will pay him $50 to haul the trimmed tree limbs and other lawn debris from her property. franco’s acceptance is completed when
Gayla tells Frank that she will pay him $50 to pull out the cut tree limbs and other lawn debris from her property. Franco’s acceptance of the project is completed when he signs the formal acceptance document to be issued by Gayla
When a store offers an incentive for buying more, such as charging $50 for one sweater or $90 for two sweaters, it is an example of price discrimination.
a. True
b. False?
Which two technologies are categorized as private wan infrastructures? (choose two.)?
Which music-related businesses serve as a brand for promoting music (such as albums)? music publishers recording studios music venues record labels NextReset
Answer:
record labels
Explanation:
i took the test and got it right:)
Stefan page company reports net sales of $700,000, gross profit of $300,000, and net income of $216,000. what are its operating expenses?
Look at the table price elasticity. what is the price elasticity of demand (using the midpoint formula) between $2.50 and $2.25?
Type: Item in a larger work (poem)
Select the best answer choice.
a.Eliot, T.S. "The Love Song of J. Alfred Prufrock." T.S. Eliot: The Complete Poems and Plays, 1909-1950. New York: Harcourt, 1967. 3-8
b.Harcourt, 1967. "The Love Song of J. Alfred Prufrock." T.S. Eliot: The Complete Poems and Plays, 1909-1950. By T.S. Eliot, p3-8
c.T.S. Eliot. T.S. Eliot: The Complete Poems and Plays, 1909-1950. New York: Harcourt, 1967. 3-8
d.T.S. Eliot: The Complete Poems and Plays 1909-1950. New York: Harcourt, 1967. 3-8. Eliot, T.S. "The Love Song of J. Alfred Prufrock."
Strategic mgmt the two best reasons for investing company resources in vertical integration (either forward or backward are to
The top reasons for vertical integration are to increase profitability through reduced haggling and double marginalization, and to diminish risk by securing supply chains against the uncertainty of supplier or buyer behavior.
The two best reasons for investing company resources in vertical integration, either forward or backward, are improved profitability and risk reduction. By controlling more stages of the value chain, a firm can reduce haggling over prices and conditions, potentially mitigating the issue of double marginalization and increasing overall profit margins. Moreover, vertical integration aids in risk mitigation by securing supply chains and reducing dependency on external suppliers and buyers, thus safeguarding against disruptions in the continuity of operations.
Historically, firms have aimed to build a sustainable advantage through dominance in all the business's value-creating activities. Vertical integration has been a strategy to establish barriers to entry, streamline manufacturing, and maintain strategic flexibility while fostering growth, reducing costs, and facilitating innovation. However, companies must also manage the inherent risks associated with these integrations, like adverse selection and the free rider problem.