George has set aside $10 for two in this instance. Coffee costs $3, but donuts cost $2.
=> The formula is therefore = $2*donut + $3*coffee = $10.
So that he can purchase two donuts and two mugs of coffee.
Consumer surplus—where is it?
The gap between the highest price a consumer is prepared to pay and the price they actually pay is known as the consumer surplus.
When customers pay less for a good or service than they are willing to, this is known as a consumer surplus. It measures the extra benefit that consumers get from paying less for something than they would have been prepared to.
How does consumer vs. producer excess work?
The gap between a consumer's willingness to pay and their actual purchase price is referred to as the consumer surplus. The difference between the market price and the least amount a producer is willing to take in exchange for a good is known as the producer surplus.
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on a small island, papayas can only be sold in the market in the center of the island. although papayas only cost $1 to raise, they can be sold in the market for $3. but it costs $.10 per kilometer to transport each papaya to market. if an acre of land grows 200 papayas, how much rent does an acre of land 4 kilometers from the market command?
If they can be sold in the market for $3. but it costs $.10 per kilometer to transport each papaya to market. if an acre of land grows 200 papayas, The amount of rent does an acre of land 4 kilometers from the market command is $320.
How to determine the cost of rent ?First step is to find the revenue using this formula
Revenue = Price × quantity
Let plug in the formula
Revenue =200 × ( $3 -$1)
Revenue =200 × $2
Revenue =$400
Second step is to find the expense using this formula
Expenses = Number of papaya × Cost per kilometer × Acre of land
Let plug in the formula
Expenses = 200 × $.10 × 4
Expenses = $80
Now let determine or find how much rent does an acre of land 4 kilometers from the market command cost
Cost of rent = $400 - $80
Cost of rent = $320
Therefore we can conclude that $320 is the cost of rent.
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your firm is contemplating the purchase of a new $545,000 computer-based order entry system. the system will be depreciated straight-line to zero over its five-year life. it will be worth $71,000 at the end of that time. you will save $165,000 before taxes per year in order processing costs, and you will be able to reduce working capital by $96,000 (this is a one-time reduction). if the tax rate is 22 percent, what is the irr for this project?
The IRR of the new computer-based order entry system is 22.87%.
What is the IRR?
Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested
The cash flow at the beginning of the period = purchase price of the system - reduction in working capital
$545,000 - $96,000 = $449,000
Depreciation expense = (cost of the asset - salvage value) / useful life
($545,000 - 0) / 5 = $109,000
Cash flow each year from year 1 to 5 = (amount saved - depreciation)(1 - taxes) + depreciation
($165,000 - $109,00)(1 - 0.22) + $109,000 = $152,680
Terminal cash flow = Salvage value - (tax x salvage value)
$71,000 - (0.22 x 71,000) = $55,380
IRR can be determined using a financial calculator:
Cash flow in year 0 = $-449,000
Cash flow in year 1 - 4= $152,680
Cash flow in year 5 = $152,680 + $55,380 = 208,060
IRR = 22.87%
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salina hires employees who provide a specific set of knowledge and skills that will give her company advantage over its competitors. in the context of strategic planning, salina is
In case whereby salina hires employees who provide a specific set of knowledge and skills that will give her company advantage over its competitors. in the context of strategic planning, salina is implementing.
What is Strategic planning?Strategic planning can be described as the process of planing which involves the act of defining as well as organizing the vision of the company so as to be able to their organization's goals and objectives.
In the case above we can see that Slina has seen the vision of the company ad she has been able to know what to do to achieve this goals as well as the objectives of the organization which makes her to seek for the employee that have the needed skill for the work, in this case we can say that she is implementing because the strategic planing without the implementation can be described as a waste of time as well as energy.
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the following data were provided by mystery incorporated for the year ended december 31: cost of goods sold $ 165,000 income tax expense 17,600 merchandise sales (gross revenue) for cash 240,000 merchandise sales (gross revenue) on credit 42,000 office expense 19,000 sales returns and allowances 7,000 salaries and wages expense 40,200
The preparation of the multiple-step income statement for Mystery Incorporated for the year ended December 31 is as follows:
Mystery Incorporated
Multiple-step Income StatementFor the year ended December 31
Merchandise sales (gross revenue) for cash $240,000
Merchandise sales (gross revenue) on credit 42,000
Gross Sales $282,000
Sales returns and allowances (7,000)
Net Sales $275,000
Cost of goods sold 165,000
Gross profit $110,000
Office expense $19,000
Salaries and wages expense 40,200 $59,200
Operating income $50,800
Income tax expense (17,600)
Net income $33,200
What is a multiple-step income statement?A multiple-step income statement is an income summary that details the revenue and expenses into operating and non-operating classes before arriving at the net income.
The multiple-step income statement also shows the different levels of profits, including the gross profit, the operating income, income before taxes, and the net income.
The multiple-step income statement contrasts with the single-step income statement, which aggregates the revenue and expenses to arrive at a single profit bottom line.
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Question Completion:Prepare the multiple-step income statement.
which global institution has focused on making low-interest loans to governments in poor nations that want to make significant infrastructure investments such as building a road or a bridge?
The World Bank has concentrated on providing low-interest loans to governments in developing countries who wish to invest heavily in infrastructure, such building a road or a bridge.
An international financial agency called the World Bank lends money and gives grants to governments in low- and middle-income nations so they can carry out major projects.
Five cooperative organisations, commonly referred to as the World Banks, have grown the World Bank into what is today known as the World Bank Group.
For international governments, the World Bank Group provides a wide range of exclusive financial assistance, goods, and solutions. It also provides a variety of research-based thought leadership for the global economy as a whole.
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assume time, cost and quality are the three most common factors involved in trade-offs. define what is meant by each and how the impact of each may impact the other two factors? what determines which factor is most important to project success?
The most frequent trade-offs involve three variables: time, cost, and quality. Time is referred to in scheduling processes, which are used in project management.
There are various indicators that can help us determine which aspect is most crucial to a project's success, and they are as follows:
For this organisation, a mission statement and a vision should be developed. Additionally, the organisation should have a strategic aim that identifies the key elements for project success.Communication requirements in the business sector, as well as a plan that might indicate which component is most crucial to project success,The criteria should be listed in detail so that, using analytics, we can determine which one is most crucial to success.We can identify which component is most crucial to project performance with the help of effective risk management and assessment techniques that could take extra business risks into account.
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jennings flooring found a supplier of very inexpensive fibers that could be used to produce low-grade carpeting at a very low cost. because jennings had been facing stiff competition in the medium-grade carpet industry, it started using the new material in all of its carpeting and reducing its prices. this is an example of a(n)
Jennings flooring found a supplier of very inexpensive fibers that could be used to produce low-grade carpeting at a very low cost. this is an example of a(n) quality modification.
Those improvements to a product's dependability and sturdiness get typically applied with the aid of modifications to the materials or manufacturing manner.
Product-line adjustments approach typically contains adjustments in merchandise or their repositioning through the enhancement of the promotional awareness.
The modifications in product frequently grant advanced product delight, thereby producing excessive initial shopping for and greater, switching from present manufacturers.
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Which statement is true about an annual percentage rate (APR)? (1 point)
O It is equal to the interest rate times the principal.
O It is of little interest to the average borrower.
O
It is reduced every time you make a payment.
O It is a simple way to compare all the various elements of different loans.
The truth that can be said about the APR is that It is a simple way to compare all the various elements of different loans.
What is the APR?This is the term that is used to refer to the annual percentage rate. The annual percentage rate can be described as the cost that has to be paid in order to borrow money.
This payment is known to be expressed as a percentage. It is inclusive of fees and it is a bigger measure of the cost that a person would have of borrowing money that have gotten as a loan.
This is not just the interest that is to be paid on the loan that is to be taken by the borrower.
This amount is known to also have to carry the fees that a person would have to add as well to the interest rate that they are to pay for the borrowing that is to be done.
he cost you pay each year to borrow money, including fees, expressed as a percentage. The APR is a broader measure of the cost to you of borrowing money since it reflects not only the interest rate but also the fees that you have to pay to get the loan.
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Answer: 1. It is a simple way to compare all the various elements of different loans.
2. It is the amount you borrow.
3. The rate can go up or down, depending upon the index it is tied too.
4. It is the amount of time after a purchase and before it starts accruing interest.
5. more than $10,000
Explanation: I took the same quick check and got 100%, hope it helps!
. why is a stable monetary system essential for the smooth operation of a market system? what would an unstable monetary system be like? why isn't a barter economy just as efficient as an economy with money?
A stable monetary system is essential for the smooth operation of a market system because it provides a common unit of measure that can be used to price goods and services.
What is market system?
A market system is a form of capitalism in which a nation's businesses and citizens interact to determine economic policy and the cost of goods and services. Although there may be some central planning or government intervention, this phrase typically denotes a more generally market-oriented economy. Adam Smith, David Ricardo, as well as Jean-Baptiste Say were among the classical economists who developed the theoretical framework for market economies. These traditional liberal proponents of the free market held that, in general, the profit motive as well as market incentives led economic decisions in more productive and efficient directions than did government economic planning. They thought that when governments intervened, it frequently resulted in economic inefficiencies which actually left people in worse financial situations.
An unstable monetary system would make it difficult to compare prices and make informed decisions about what to buy and sell. A barter economy is not as efficient as an economy with money because it is difficult to find someone who has what you want and is willing to trade it for what you have.
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a bond has a $1,000 face value, a market price of $1,045, and pays interest payments of $65.50 every year. what is the coupon rate? group of answer choices 6.55 percent 6.26 percent 7.12 percent 3.28 percent 8.0 percent
If a bond has a $1,000 face value and pays interest payments of $65.50 every year, the coupon rate is 6.55%.
The coupon rate is the amount of income an investor can anticipate receiving from a bond. It is determined at the time the bond is issued and is determined by calculating by dividing the total annual coupon payments by the par value.
Coupon rate = Interest amount / Face value of the bond
Coupon rate = $65.50 / $1,000
Coupon rate = 6.55%
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contract requirements state that a project must be completed within 180 working days, or it will incur penalties for late completion. analysis of the activity network reveals an estimated project time of 145 working days with a project variance of 400. what is the probability that the project will be completed before the late-payment deadline? group of answer choices 0.4599 0.8056 0.9599 0.0401 near 1.0000, or almost certain
It is 0.9599 or 0.95 percent likely that the project will be finished before the deadline for late payments.
Any activity that is meticulously planned to accomplish a specific goal, whether it is done alone or in a group, and may include research or design, is referred to as a project. A different perspective sees a project as a series of activities that must be completed in a specific order and under specific financial and other constraints.
A project may be a transient (rather than permanent) social structure (work system), staffed perhaps by teams (inside or across organisations), to carry out specific tasks under time limitations. A project could be a component of a larger programme management effort or work independently.
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What type of analytics recommends one or more courses of action, identifies the likely outcome of each decision, and quantifies the effect of future decisions in order to advise on possible outcomes before the decisions are actually made?.
Prescriptive analytics advises on possible outcomes before decisions, identifying the likely outcome of each decision, and quantifying the impact of future decisions.
Prescriptive analytics goes further than descriptive and predictive models by suggesting one or more actions and predicting the likely outcome of each decision. Prescriptive analytics seeks to quantify the impact of future decisions in order to advise on potential outcomes before the decisions are made.
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you short-sell 300 shares of rock creek fly fishing company, now selling for $32 per share. if you want to limit your loss to $3,300, you should place a stop-buy order at
You suddenly- vend 300 shares of gemstone creek cover fishing company, now dealing for$ 32 per share. However, 300, you should place a stop- steal order at $ 21, if you want to limit your loss to$ 3.
Given,
300 shares of gemstone creek cover fishing company are short vended.
now dealing for$ 32 per share.
I want to limit your loss to$,300.
When an investor borrows security, he or she sells it on the open
request with the intention of latterly copping
it at a lower price.
Short- merchandisers stake on and profit from a decline in the price of securities. Differ this with long- term investors who want the price to increase.
quantum entered from short trade = 300 ×$ 32 = $,600
Let the stop- steal order be at price' P'.
Loss = $,300 = 300P −$,600
$,300 = 300P,
so P = $ 21
Hence, stop- buy order should be placed at$ 21.
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a cooperative agreement among oligopolists is more likely to be maintained, a.the smaller the number of buyers of the oligopolists' product. b.the more likely it is that the game among the oligopolists will be played over and over again. c.the larger the number of buyers of the oligopolists' product. d.the greater the number of oligopolists.
The likelihood that an oligopolist will cooperate with another oligopolist increases the likelihood that they will play their game repeatedly.
While oligopoly firms in a specific market choose the amount to offer and the price to charge, they are tempted to behave like monopolies. Oligopolistic businesses can maintain enterprise output, impose a higher fee, and distribute the proceeds among themselves by coming together as a group.An oligopoly situation is one in which businesses within the same firm cooperate to improve their shared earnings rather than fiercely competing with one another. Oligopolies are situated throughout the market or even seem to be developing into profitable sectors.
An Industry is said to be in an oligopoly if just a few significant companies are present. High access and exit barriers are typical for businesses.In an oligopoly, a firm’s actions are frequently influenced by what other firms are doing. Either price leadership or collusion are used to establish prices.
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executives acquire information about external opportunities and strengths from a variety of reports, including budgets, financial ratios, profit and loss statements, and surveys of employee attitudes and satisfaction.
No, it is false executives do not acquire information about external opportunities and strengths through reports such as budgets, financial ratios or other statement, instead they rely upon environment scanning.
Environment scanning is the process the through which environment organizations monitor their internal as well external environment to locate the presence of opportunities and threats available in external environment. Environment scanning allow the organizations to track the happenings taking place in the outer environment so that it can be able to deal with them with proper planning
Through environment scanning organizations are able to get early warning signals of threats are are about to come in their way and allow them to develop suitable course of action accordingly. These are helpful in shaping the way organization is going to make decisions.
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according to the basic model of pure competition, in the long run all firms in a purely competitive industry will earn normal profits. if all firms earn only a normal profit in the long run, why would any firms bother to develop new products or lower-cost production methods?
The firms do so to be creative, possibly make a quick monetary profit, to become better from their competitors and standout in the market.
What does pure competition mean in the long run?Businesses can easily enter or exit a market that is only competitive in the long run. The ability of businesses and resources to quickly adapt in response to market demands is another tenet of pure competition.
What happens in a market with only competition over time?Businesses in a perfectly competitive market can only make or lose money in the short term. Because an infinite number of businesses produce uniform, infinitely divisible products, profits and losses are eventually eliminated.
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Match each product life cycle stage to its description. During this stage, three things fall: customers, sales, and competitors.
At this time, profits are high and per-customer cost is at its lowest.
Sales and profits begin to rise during this stage of the product life cycle.
In this stage, a new product is launched and financial losses are common.
1. Introduction 2. Growth 3. Maturity 4. Decline
Each product life cycle stage should be matched to its description as follows:
Introduction: During this stage, three things fall: customers, sales, and competitors.Maturity: At this time, profits are high and per-customer cost is at its lowest.Growth: Sales and profits begin to rise during this stage of the product life cycle.Decline: In this stage, a new product is launched and financial losses are common.What is a product life cycle?A product life cycle can be defined as the stages or phases that a particular product passes through, from the period it was introduced into the market to the period when it is eventually removed from the market.
Generally, there are four (4) stages in the product life cycle and these including the following;
Introduction.Growth.Maturity.DeclineIn conclusion, we can reasonably infer and logically deduce that customers, sales, and competitors are usually very low at the introduction stage of a product.
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alex, a tax accountant, decided to buy a car after receiving a raise in salary. he researched his options online and sought the opinions of friends who had recently purchased cars. in the context of the consumer decision-making process, what must alex do next?
In the consumer decision -making process, Alex must evaluate alternatives and decide which car will suit him best.
The consumer decision making process is five step process-
The first step in the process is to recognize the problem, once consumers are able to recognize their need and want, they try to understand how they can fulfill it.The second step is to recognize the options available for fulfilling their need and want. They identify each and every available option.The third step is to evaluate each alternative by considering their pros and cons. Prospective customers have some criteria related to their need accordingly they judge the product.The fourth step is to take the final purchase option after considering everything .And the last step in the consumer decision-making process is to post purchase evaluation of the product.Learn more about consumer decision-making process here:
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When the price of yogurt increased by 10%, its demand decreased by 2%. What is its price elasticity of demand?.
The elasticity price of demand will increase by 5%.
Price elasticity = quantity of the demanded good / price of the demanded good
Price elasticity of a call for is the ratio of the percentage exchange in the amount demanded of a product to the percentage alternate in fee.
Economists hire it to recognize how to deliver and call for trade whilst a product's price modifications.
An example of products with an elastic demand is patron durables. these are objects which are purchased every now and then, like a bathing device or a vehicle, and may be postponed if the charge rises.
For instance, automobile rebates were very a success in increasing automobile sales by using decreasing price.
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What must be present when a product leaves a manufacturer in order to prove strict liability?
A. A defective product.
B. An ultrahazardous product.
C. An inherently unsafe product.
D. A poorly designed product.
The best choice is an option (a). When a product leaves a manufacturer, a defective product must be presented to establish strict liability.
How can stringent product liability be demonstrated?A plaintiff must often demonstrate that an inherent flaw in a product is what led to the alleged losses to succeed on a strict product liability claim. To put it another way, the plaintiff must demonstrate both that the product was inherently flawed and that the flaw was what led to the harm or damage.
In strict liability, whose burden of proof is it?The imposition of duty on a party without a finding of fault is known as a strict liability in tort law (such as negligence or tortious intent). The plaintiff merely needs to demonstrate that the defendant committed the tort and that it happened. Situations that the law deems to be inherently harmful are subject to strict responsibility.
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your customer wants to build a new computer and needs to make sure he orders the correct power supply for his machine. what should you tell him to check to make sure he orders the correct power supply
In order to order the correct power supply he should check:
Wattage requirements, Number of hard drives, Video requirements, Form factor, will it fit the chassis.
What is the first step that should be taken when performing work with a computer?The primary step is to turn on the computer. To do this, locate and press the power button. It is in a different place on every computer, but it has the universal power button symbols . Once turned on, your computer takes time before it will be ready to use.
What are the steps to setup a new computer?To Set Up and Configure a New Computer:
Physical setup like cables First time settings.Connect to the internet.Security and antivirus program.Software and windows updates.Remove bloatware.Create a backup plan.Learn more about setting of computer:
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As you read this question, each individual word appears as a separate unit because letters are closer to each other when they are part of a word versus when they are not. This is an example of the gestalt principle of.
The given scenario of each individual word appearing as a separate unit because letters are closer to each other and this is the gestalt principle of proximity.
What is the Gestalt Principle?This refers to the laws of human perception that gives explanations and descriptions that recognizes patterns and complex images.
Hence, we can see that the described scenario talks about the gestalt principle of proximity because it states that words or things that are close to each other appear to be more related than things that are spaced farther apart.
With this in mind, the correct answer to the question is the gestalt principle of proximity.
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suppose you work as a manager in a firm. your job is to hire the right number of people to maximize profit. every worker you hire costs $150 per day, and each unit of output sells for $15 per unit. given your current labor force, you know that if you hire another worker, that person will increase your outp
The marginal product of the worker that on e is considering hiring is 40.
What is marginal product?It should be noted that the marginal product is the change on the output which results as a result of using one or more unit of that input when everything else are constant.
It shouldbe noted that giving that others things are held constant, the marginal product of labor will be determined by dividing the change in the output by the labor change.
In this case, the hiring of the worker will lead to an increase in the output by 40 units. This is the marginal product.
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suppose you work as a manager in a firm. your job is to hire the right number of people to maximize profit. every worker you hire costs $150 per day, and each unit of output sells for $15 per unit. given your current labor force, you know that if you hire another worker, that person will increase your output by 40.
the potential output of an economy depends on three factors: human capital, physical capital, and technology. for each item below, indicate whether it affects human capital, physical capital, or technology. a. an improvement in adult literacy human capital physical capital techology b. an increase in the college student population human capital physical capital technology c. the development of smaller mp3 players human capital physical capital technology d. the acquisition of computers by companies human capital physical capital technology e. new distribution techniques human capital physical capital technology
GDP growth is correlated with investments in tangible capital.A workforce that is more productive results in greater economic growth, which in turn leads to a higher gross domestic product (GDP).
What impact does physical capital have on economic expansion?
Each worker's capital stock: If everything else is equal, an economy with more physical capital can produce more than one with less. More capital investment leads to greater economic expansion due to the addition of capital to the stock through savings and investment.
Is GDP boosted by physical capital?
Temporarily, an expansion in business venture straightforwardly expands the ongoing degree of total national output (Gross domestic product), on the grounds that actual capital is itself delivered and sold.
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a mortgage company is advertising a 30 year fixed rate mortgage with monthly payments and an apr of 3.0%. what is the effective annual interest rate of this loan?
The effective annual interest rate of this loan is calculated to be 3.04%
The effective annual interest rate can be determined by the following formula;
effective annual interest rate = [( 1 + i/n)^n] - 1
Here i represents the nominal rate and n represents the number of compounding periods and the ratio i/n represents the monthly interest rate
We can calculate the monthly interest rate as follows;
monthly interest rate = 0.03 / 12
monthly interest rate = 0.0025
Now the effective annual interest rate can be calculated as follows;
effective annual interest rate = [( 1 + 0.0025 )^12] - 1
effective annual interest rate = [(1.0025)^12] - 1
effective annual interest rate = 0.0304
Converting it into percentage;
effective annual interest rate = 0.0304 × 100 = 3.04%
Therefore, the effective annual interest rate of this loan is 3.04% if the APR for the loan is 3%
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faiz enters into a contract to buy 350 acres from grain farm to cultivate hops and open a brewery. faiz fails to make the purchase. grain farm’s remedy is most likely
Based on the fact that Falz failed to make the purchase, Grain Farm most likely has the remedy of C ) Pay the difference between contract price and market price.
What is Grain farm to do?When a buyer (Falz) gets into an agreement to buy a land or property and fails to do so, this falls under real estate and damage.
Under real estate and damage, the buyer would then have to pay the seller (Grain Farm) a remedy which would be the difference between the market price of the property and the contract price.
Options for this question include:
the amount that Faiz expected to invest in the brewery a percentage of Faiz's unrealized profit. the difference between the contract and market prices of the land. nothing-Grain Farm still owns the land.Find out more on contract remedy at https://brainly.com/question/28480342
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bolton industries has provided the following information: operating expenses were $415,000; income from operations was $280,000; net sales were $1,400,000; interest expense was $87,000; loss from sale of investments was $95,000; income tax expense was $77,200. what was bolton's income before taxes?
Net income is calculated after deducting gross profit, any additional costs and expenses, as well as any other profits and revenue streams not included in gross profit. Net income is $20800
We will begin with EBIT, or income from operations, and then deduct income tax expense, loss on sale of investments, and finally taxes to get at net income:
Given :
EBIT = $280,000
Interest expense = $87,000Loss from sale of investments = $95,000 Income tax expense = $77,200= 87000+95000+77200
= $259200
= $280,000 - $259200
Net income = $ 20800
EBIT (earnings before interest and taxes) measures a company's net income prior to the deduction of interest and income tax charges.
With the costs of the capital structure and tax expenses removed, EBIT is used to assess the profitability of a company's core operations.
Since interest and taxes are not included in the computations, EBIT is also referred to as operational income. Operating income can occasionally diverge from EBIT, though.
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andy invests $5,000 as a limited partner in fasthorses, lp. when all of the horses owned by fasthorses fail to win races and the limited partnership goes bankrupt, andy loses
Andy spends $5,000 as a limited partner in fast horses, lp. when all of the horses owned by fast horses are unsuccessful racehorses, and the limited partnership goes bankrupt. Andy loses $5,000
Your spouse or the other person you are dating or in a sexual relationship with is your partner. Not loving your relationship doesn't mean you don't want other friends. Partnerships can also be created for financial reasons. Partners are persons who have similar interests. However, partners are primarily understood in this sense to be unmarried individuals who continue to have a love or sexual relationship with one another despite not being married. They don't have to get married to cohabitate. People or other entities who are unable to pay their creditors back can seek some or complete relief from their debts through the legal process known as bankruptcy. Most typically requested by the debtor, bankruptcy is imposed by a court order in most jurisdictions.
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are workers who create, distribute, and apply knowledge. group of answer choices data prospectors data managers information analysts knowledge workers information conduits
Knowledge workers are those who produce, share, and use knowledge.
Knowledge may be referred to as familiarity with things or circumstances, as well as factual awareness or practical abilities. Factual knowledge, also known as propositional knowledge, is frequently characterized as a real belief that can be distinguished from opinion or conjecture by the presence of supporting evidence. Although there is broad agreement among philosophers that it is a sort of true belief, justification is the subject of numerous philosophical debates, including whether it is even necessary, how to comprehend it, and whether something else is required in addition to it. A series of thought experiments by Edmund Gettier contributed to the escalation of these debates and the emergence of numerous competing definitions. Some of them argue that replacement should take the place of justification.
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Explain,using PED,why a company might introduce a policy of raising travel fares at peak times and lowering travel fares at non peak time ?
Using Price Elasticity of demand or (PED) a company might introduce a policy of raising travel fares at peak times because :-
Understanding the 'elasticity of demand' that is pertinent in this situation. Applying price elasticity of demand demonstrates the relationship between the impact of raising fares during busy periods and changes in total revenue, as well as the impact of reducing fares during less busy periods and changes in total revenue.
The quantity demanded of a good or service divided by the percentage change in price is the price elasticity of demand. The percentage change in quantity supplied divided by the percentage change in price represents the price elasticity of supply.To learn more about Price Elasticity of demand, click the links
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