For the demand function q=D(p)=700(p+4)2�=�(�)=700(�+4)2, find the following.A) The elasticity.B) The elasticity at p=8�=8, stating whether the demand is elastic, inelastic or has unit elasticity.C) The value(s) of p� for which total revenue is a maximum (assume that p� is in dollars)

Answers

Answer 1

The elasticity of the demand function is found to be |p/(p+4)|. At a price of p=8, the demand is inelastic, and the value of p that maximizes total revenue is -4.

Elasticity of demand

A) The elasticity of demand function is given by:

[tex]E = |(dp/dq) \times (q/p)|[/tex]

where

p is the price and q is the quantity demanded.

Using the given demand function [tex]q=D(p)=700(p+4)^2[/tex], we can find the derivative of q with respect to p as:

[tex]dp/dq = 1 / ((dq/dp) = 1 / (2700(p+4)))[/tex]

Substituting this in the elasticity formula, we get:

[tex]E = |(1/((dq/dp)p)) \times q| = |p / (2700\times(p+4))) \times 700(p+4)^2[/tex]

Simplifying this expression, we get:

[tex]E = |p/(p+4)|[/tex]

B) To find the elasticity at p=8, we substitute p=8 in the above expression:

[tex]E = |8/(8+4)| = 2/3[/tex]

Since the elasticity is less than 1, the demand is inelastic at p=8.

C) The total revenue is given by:

[tex]R(p) = pq = p700(p+4)^2[/tex]

To find the maximum value of R(p), we take the derivative of R(p) with respect to p and set it to zero:

[tex]dR/dp = 700(p+4)^2 + 2\times700(p+4)\timesp = 0[/tex]

Simplifying this expression, we get:

[tex]p = -4 or p = -14[/tex]

Since the price cannot be negative, the value of p that maximizes the total revenue is p= -4.

Threfore, the elasticity of the demand function is found to be |p/(p+4)|. At a price of p=8, the demand is inelastic, and the value of p that maximizes total revenue is -4.

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Home equity line of credit limits can be increased by requesting a loan modification or paying off an existing line and replacing it with a new, larger one.

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Answer:

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Explanation:

I got it right on the test

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Answer:

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Explanation:

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Complete question

A researcher wanted to estimate the average amount of money spent on extracurricular activities per school in a certain region. The researcher randomly selected 20 public schools and 20 private schools in the region to be used in the sample. Which of the following best describes the type of sample that was taken?

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If you missed a credit card payment by one day, it's not the end of the world. Credit card issuers don't report payments that are less than 30 days late. If your payment is 30 or more days late, then the penalties can add up.

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Consider a simple economy where the basket of goods used to calculate the cpi contains two items: shirts and pants. The basket consists of 3 shirts and 2 pairs of pants. Each item increases in price by $1 in year 2. Use this information to complete the table and calculate the cpi.

Answers

It is Because you must divide basket price 2 by basket price 1, then multiply by 100, CPI will be 104.34.

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The use of customised offers to attract customers to buy more when they are ready to make a purchase is known as basket-based pricing. Retailers are well aware of the value of selling more items at once rather than piecemeal over time.

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What was Nationwide called?

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The concept given is Nationwide. Nationwide, formerly known as Farm Bureau Mutual Automobile Insurance Company, sold its first policy.

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Nationwide is one of the world's largest insurance and financial services companies specializing in casualty insurance, life insurance and retirement plans, wealth management and strategic investing.

Nationwide Mutual Insurance Company has its roots in the Farm Bureau Mutual Automobile Insurance Company, founded in 1926 by the Ohio Farm Bureau Federation in Columbus, Ohio.

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When looking at a country as a market or investment, the international business must consider the country's legal system. In that assessment, the firm needs to understand the differences between private actions, which refer to theft, piracy, blackmail, and the like from individuals or groups, and public actions, which are those actions taken by politicians and government bureaucrats. Either kind of action would pose a serious threat to the firm's investment or operations. Before the firm can seek legal remedies, it must clearly understand the options open to it. In a legal sense, property refers to a resource over which an individual or a business holds a legal title. It is a resource that it owns. Countries differ in the extent to which their legal systems define and protect property rights, even those countries that are still nominally communist states. Property rights can be violated, sometimes by governments and sometimes by individuals or groups.

Answers

Private action in terms Of property rights and legal protections:

Weak Legal SystemTheft of BlackmailOrganizational plan/ protection money.

Public action in terms Of property rights and legal protections:

BriberyCorruptionLegal Mechanisms

Property rights generally can be defined as a constructs in economics for determining how a resource or economic good is used and owned. Property right  have developed over ancient and modern history, from Abrahamic law to Article 17 of the Universal Declaration of Human Rights. There are several types of private property rights, one of the most known as private property right is the ownership of a home. Private property right has a function to steers economic growth by encouraging innovation and private investments.

When looking at a country as a market or investment, the international business must consider the country's legal system. In that assessment, the firm needs to understand the differences between private actions, which refer to theft, piracy, blackmail, and the like from individuals or groups, and public actions, which are those actions taken by politicians and government bureaucrats. Either kind of action would pose a serious threat to the firm's investment or operations. Before the firm can seek legal remedies, it must clearly understand the options open to it.

In a legal sense, property refers to a resource over which an individual or a business holds a legal title. It is a resource that it owns. Countries differ in the extent to which their legal systems define and protect property rights, even those countries that are still nominally communist states. Property rights can be violated, sometimes by governments and sometimes by individuals or groups.

Determine form the followings if it pertains more to private or public actions in terms Of property rights and legal protections.

a. Legal mechanisms

b. Theft or blackmail

c. Bribery

d. Organizational plan/ protection money

e. Corruption

f. Weak legal system

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What is the most likely reason that Emperor Hirohito remained head of state when military leaders took power in?

Answers

Even though military chiefs pressed him to do so, Hirohito resisted. The idea of a lone, strong commander was something military officials sought to preserve.

Why did Hirohito continue to rule?

The "retentionists" claimed that in order to convince Japan to surrender and to ensure that its armed forces would comply with that surrender, a guarantee of Hirohito's continued status as emperor was necessary.

                    He may help maintain the peace in post-war Japan and lend legitimacy to Japanese government leaders collaborating with the US.

Was the military in charge of Hirohito?

According to some evidence, Hirohito was somewhat involved, but his influence was constrained by cabinet members, ministers, and other members of the military aristocracy.

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Who owns and controls the factors of production in a command economy?

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In a command economy, key elements of economic output are under the supervision and direction of the government (or another central authority). The industries that create goods and services for the general public are controlled by and subject to the authority of the government.

The price and production of products and services that the government believes will be beneficial to the populace. When deciding what goods and services to create and how much to produce, a nation with a command economy concentrates on macroeconomic goals and political factors. The government generally has macroeconomic objectives that it wants to achieve, and in order to do so, it will produce products and services.

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Firms are motivated to minimize production costs because:

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Firms are motivated to minimize production costs because reducing costs leads to increased profits.

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By minimizing production costs, firms can produce goods or services at a lower cost, allowing them to sell them at a lower price and still make a profit, or to increase the profit margin on each item sold.

Reducing production costs can make a firm more competitive in the market by allowing them to offer lower prices than competitors, increase market share, and improve their bottom line.  Based on this firms are motivated to minimize production costs because it is essential for their financial stability and success.

Therefore reducing costs leads to increased profits.

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How long before missed payment affect credit score?

Answers

The reporting date is at least 30 days after the payment due date, meaning it's possible to make up late payments before they wind up on credit reports. Some creditors don't report late payments until 60 days past due.

How long does late payments stay on credit report?

Your credit report will reflect late payments for a maximum of seven years.

They can lower your credit score, although the impact lessens over time. However, not every late payment will appear in your payment history.

If you pay a credit card bill after the due date but before the due date, the card issuer may charge you a late fee; but, your credit won't be harmed.

If the payment is more than 30 days overdue, the situation changes.

Depending on how long your account was past due before you made a payment, the impact on your credit ratings in this situation varies.

A payment that is 60 days overdue will therefore cause additional damage.

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Cash dividends are initially recorded on which date?

Answers

Cash dividends are first noted on the declaration date.

Cash dividends are available where?

The total dividend payment for the reporting period is visible to investors in the statement of cash flows' finance section. What amount of money is entering into or leaving a business is shown on the cash flow statement. If any dividends were paid during the period, the payment would be reported as a monetary use.

A cash dividend on a record date is defined as what?

The record date is the last day about which stockholders may be paid distribution or dividend. Board of a corporation makes the decision.

How is a cash dividend documented?

The business's cash accounts and retained earnings are adjusted to reflect this. Cash dividends are recorded as a decrease in the report of movements in shareholders' equity since the firm does not view them as expenses.

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Why are subsidies used?

Answers

Subsidies are used for variety of reasons like -
1. Supporting strategic industries

2.  Promoting economic development
3. Helping businesses to compete

4. Improving access to goods and services

Subsidies are used for a variety of reasons, some of which include:

1. Supporting strategic industries: Governments may provide subsidies to support strategic industries such as agriculture, energy, or technology that are considered important for economic growth, national security, or social welfare.

2. Promoting economic development: Subsidies may be used to promote economic development in certain regions or communities, particularly those that are economically disadvantaged.

3. Encouraging innovation: Subsidies may be used to support research and development and to promote new technologies, which can help to improve the efficiency and competitiveness of domestic industries.

4. Helping businesses to compete: Subsidies may be used to help domestic businesses to compete with foreign companies, particularly in industries where foreign competition is strong.

5. Improving access to goods and services: Subsidies may be used to make goods and services more affordable for low-income consumers, particularly for essential goods and services such as healthcare and education.

6. Achieving social goals: Subsidies may be used to achieve social goals such as reducing poverty, improving the environment, or promoting social welfare.

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Why GDP is not a good measure of economic well-being?

Answers

GDP is a rough estimate of a society's standard of life because it does not immediately take into account leisure, environmental quality, levels of health and education, extracurricular activities, changes in income disparity, improvements in diversity, or technological advancements.

The entire market value of all finished items produced and sold in a country during a given time period is known as the gross domestic product, or GDP. Before the measurement can be used as an accurate indicator, it needs to be corrected frequently due to its complexity and subjectivity. Nominal GDP is used to compare national economies on the global market because GDP per capita does not take into account variations in the cost of living and inflation rates of the various countries. Comparing living standards between countries may be more meaningful when using GDP per capita at buying power parity (PPP).

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Chri topped for ga twice on a long car trip The price of ga at the firt tation wa $1. 45 per gallon, and the price of ga at the econd tation wa $1. 55 per gallon. On the trip, Chri bought a total of 20 gallon of ga and pent $29. 80. If x = the number of gallon that Chri bought at the firt tation, and y = the number of gallon Chri bought at the econd tation, which ytem of equation could be ued to find the number of gallon of ga Chri bought at each tation. A. 1. 45x 1. 55y = 20 and x y = 29. 80
B. X y = 20 and 1. 45x 1. 55y = 29. 80
C. X y = 20 and 1. 45x - 1. 55y = 29. 80
D. Xy = 20 and 1. 45x 1. 55y = 29. 80

Answers

The correct answer is D. Xy = 20 and 1. 45x 1. 55y = 29.80. This system of equations can be used to find the number of gallons of gas Chri bought at each station.

The first equation,

XY = 20, states that the total number of gallons of gas purchased (x + y) is equal to 20. This equation can be used to solve for the number of gallons of gas purchased at each station (x and y).

The second equation,

1.45x - 1.55y = 29.80, which states that the total cost of the gas purchased (1.45x + 1.55y) is equal to $29.80. This equation can also be used to solve for the number of gallons of gas purchased at each station (x and y).

To solve for the number of gallons of gas purchased at each station, the two equations must be combined into a system of equations. The combined equation is

Xy = 20 and 1.45x - 1.55y = 29.80.

This equation can be solved using substitution. Once the equations are solved, the values for x and y will represent the number.

x=20/y

1.45×20/y-1.55y=29.8

29/y-1.55y=29.8

29-1.55y²=29.8y

1.55y²+29.8y-29=0

y=0.928

x=20/0.928

x=21.55

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Determine which of the following statements about merchandise is correct.

Answers

Based on the available options and the concept of merchandise in the business world, the correct statement is that Merchandise is acquired for resale to customers.

What is Merchandise?

Merchandise is a term that is used to describe the things that can be bought or sold, like the product that's for sale at your local record shop, or the commodity sold by sidewalk vendors in a big city.

Generally, there are various types of merchandise which include the following:

product, visual, retail, digital, and omnichannel.

Hence, in this case, it is concluded that the correct answer is option D. "Merchandise is acquired for resale to customers."

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The available options to the question are:

A. Merchandise is acquired for use in the company, just like supplies.

B. Merchandise is considered an expense in the period it is purchased.

C. Merchandise is sold by customers.

D. Merchandise is acquired for resale to customers.

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