Suppose that business travelers and vacationers have the following demand for airline
tickets from Los Angeles to San Francisco:
Price
$150
$200
$250
$300
Quantity Demanded
(business travelers)
35,000
30,000
26,000
20,000
Quantity Demanded
(vacationers)
25,000
21,000
14,500
11,000
1. As the price of tickets rises from $200 to $250, what is the price elasticity for both
(a) business travelers and (b) vacationers ?
2. Why might vacationers have a different elasticity than business travelers?
3. What would be the Exact Quantity Demanded and change in Total Revenue if the
Airlines Change the Price for Business Travelers from $200 to $230?
Answers
Related Questions
Canned food available for sale at grocery stores have been subjected to a commercial canning process. If you bought a can of peas from the local grocery store and found the peas to be spoiled, it could explained by
Answers
Answer:
Three things:
-Under processing before canning
-Spoilage before canning
-entrance of water through can seams during cooling
Explanation:
The preservation process is aimed at reducing the rate of spoilage of food products over time.
When adequately processed a time can be given during which the food product is still not spoilt. For example 1 year from date of canning. After this period there is a high possibility of food spoilage.
If a can of peas was bought from a grocery and it is spoilt it is either the peas were not well processed, there was spoilage before commercial canning, or water entered when cooling during canning
Please post detailed answers to the following questions. Please use complete sentences.
You may have noticed that honesty and ethics are important in finance and business careers. Why is this so important?
Answers
Answer:
see below
Explanation:
Ethics are a set of regulations and that guide people's behaviors. They are a set of generally accepted behavior in society. Ethics in business refers to the deliberate efforts to do the right thing.
Honesty and ethics are important in finance and business careers due to the following reasons
Asset Protection and AssuranceFinance and business professionals deal with sensitive information. They have access to financial records, accounting records, and personal shareholders and employees' records. Honesty and integrity are essential to ensure that the reports they present are accurate and reliable.
The majority of fraudulent activities originate from finance and business departments. Having employees of high integrity in those units will help protect business assets and assure the reliability of financial data.
2. Public Image and Brand Value Increases
Honest and ethical workers add to the goods reputation of a company. Business partners and customers will feel more confident transactions with the company. The company's brand image and value increase in the eyes of the public.
3. Team Work develops:
Honest workers have a relatively easy time working with others. Teamwork increases when employees work responsibly and as expected.
Define business office and explain its types with main features
Answers
Answer: Business is an economic activity that involves the exchange, purchase, sale or production of goods and services with a motive to earn profits and satisfy the needs of customers. Businesses can be both profit or non-profit organizations that function to gain profits or achieve a social cause respectively.
Hope this helps....... Stay safe and have a Merry Christmas!!!!!!!! :D
Explanation:
At what production level are you making the greatest profit?
Answers
Answer:
Pair 3 and 4 marginal cost of production are the lowest, so probably 4 is your answer.
Explanation:
It is not advisable for a worker who is satisfied with their job to improve their skills. Please select the best answer from the choices provided T F
Answers
Answer: False
Explanation: I just took the practice test
Answer:
False
Explanation:
Suppose that a competitive firm hires labor up to the point at which the value of the marginal product equals the wage and that labor is the only input that varies for the firm. If the firm pays a wage of $700 per week and the marginal product of labor equals 35 units per week, then the marginal cost of producing an additional unit of output is
Answers
Answer:
$20
Explanation:
Calculation for the marginal cost of producing an additional unit of output
Using this formula
Marginal cost=Wage per week/Marginal product of labor
Let plug in the formula
Marginal cost= $700 per week/35 units per week
Marginal cost= $20
Therefore the marginal cost of producing an additional unit of output is $20
Which expression is equivalent to 12(3 + m)? Group of answer choices 36 + 12m 3m + 12m 36m 36 + m
Answers
Answer:
36 + 12m
Explanation:
The first step is to solve the expression be removing the bracket
12(3+m)
36 + 12m
Hence 36+12m represents the expression
That realm of activity that lies between the state and the market, including the family, schools, community associations, and non-economic institutions, is known by social scientists as
Answers
Answer: civil society or civil culture
Explanation:
Civil society simply has to do with the individual in the society sharing a common interests and having a value and purpose that is different from the government and the profit motive of the market.
The actors in a civil society enhance community participation in service provision and also in policy decision making. This brings about a democratic society that is vibrant.
When should you replenish a petty cash fund?
every week
at the end of the month
when it has reached a certain dollar amount
both b and c
Answers
Answer:
both b and c
Explanation:
A Petty Cash Fund is a convenient way of paying for small transactions. It is mostly applied when making payment using other methods is unreasonable. The money spent should be replenished at least once to take the Petty Cash Fund back to its approved balance. Replenishment is also done when the dollar balance goes below a set level. Replenishing allows the petty cash fund to operate as intended.
What are two examples of Intellectual property?
Answers
Answer:
Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.
Explanation:
Darcy is a new manager in a large consulting firm. As one of her first task she needs to set goals for her team
Answers
Answer: Bottom-up
Explanation:
Bottom-up also known as top down approach, is the approach of going from general to the specific, also from specific to the general. They are possible approach for a wide range of endeavors such as goal getting, forecasting and setting busgets
Darcy can use the Bottom-up approach to set up her team.
How does the speaker apply the scientific method to marketing? Explain.
How does the speaker apply entropy to marketing? Explain.
In what way does the speaker say marketing has changed in the last 20 years? Does he believe this is a positive or negative change? Explain.
30 Points
Answers
Answer:
How does the speaker apply the scientific method to marketing? Explain.
He says that 1 bad week of marketing or a screwup can corrupt the whole company and make the overall image of the company a bad one. He compares this with science by saying that one bad data point can ruin your whole hypothesis or theory,
How does the speaker apply entropy to marketing? Explain.
"This says that entropy, which is a measure of the disorder of a system, will always increase. The same is true of marketing. If we go back 20 years, the one message pretty much controlled by one marketing manager could pretty much define a brand. But where we are today, things have changed. You can get a strong brand image or a message and put it out there like the Conservative Party did earlier this year with their election poster. But then you lose control of it." He is basically saying that the situation will get worse and worse over time if you don't fix the situation. He applies this to marketing by saying that you can have a strong image at the beginning but if you do not maintain it then it will only get worse and worse over time.
In what way does the speaker say marketing has changed in the last 20 years? Does he believe this is a positive or negative change? Explain.
It doesn't seem like he thinks that it improved or got worse. He made it seem like we have to adapt more to the situation that we may find ourselves in when it comes to marketing. He is definitely more on the positive side though.
Explanation:
Someone please help will mark as brainliest
Answers
Answer:
1. B
2. D
3. C
4. A
Explanation:
Happy Holidays :)
what is business and what is occupation
Answers
Answer:
Business:
A person's regular occupation, profession, or trade.
Occupation:
A job or profession.
Explanation:
I looked them up in a dictionary.
Please mark me brainliest! I need it! Please!
What are 2 different payments relating to insurance that are used for almost all kinds of insurance?
Answers
Answer:
credit or debit?
Explanation:
The demand for money curve shows that there is an inverse relationship between interest rate and
A.quality of money supplied
B. Price level
C. Gross domestic products
D.quantity of money demanded
Answers
Answer:
D.quantity of money demanded
Explanation:
Just is
Answer:
quality of money supplied is the answer
On December 31, Cruise Company has 18,000 units of an inventory item, which cost $46 per unit when purchased on June 15. The selling price was $86 per unit. On December 30, the net realizable value was $48 per unit. At what amount should the 18,000 units of inventory be reported at on the December 31 balance sheet
Answers
Answer:
the inventory be reported at on the December 31 balance sheet is $828,000
Explanation:
Here the inventory should be recorded at lower of cost or net realizable value
Since the cost per unit is $46
And, the net realizable value is $48
So, the lowest cost per unit is $46
Now the ending inventory reported is
= 18,000 units × $46 per unit
= $828,000
hence, the inventory be reported at on the December 31 balance sheet is $828,000
Many catalog companies create special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. These special issues are an example of
Answers
Answer:
customer relationship management.
Explanation:
Note, the application of customer relationship management allows a business organization to easily monitor their customer's buying bahavior in the past in other to properly attend to their future needs.
By tracking customers who frequently order bedding items like sheets and pillows, the organization (by means of customer relationship management) was to able to study trends in their buying behavior in other efffectively market their products to the consumers.
Las ventas a crédito originan siempre: (una única respuesta correcta) 10 -5 Un activo para el comprador y un pasivo para el vendedor. Un beneficio para el vendedor. Un gasto para el comprador. Un activo para el vendedor y un pasivo para el comprador.
Answers
Answer:
Un activo para el vendedor y un pasivo para el comprador.
Explanation:
Si registramos una venta a credito tenemos la siguiente transaction desde el punto de vista del vendedor:
D Cuentas por cobrar XY
C Ventas XY
Se genera un activo
Si registramos la transaction desde el punto de vista del comprador:
D Activo XY
C Cuentas por pagar XY
Aca generamos una pasivo
I need 5 skills needed to do this
Answers
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Chez Dove is an independent coffeehouse/bookstore that went bankrupt only eight months after opening due to an unexpected demand for cash to fix a leaking roof. Better cash _____ might have allowed the business to continue operation.
Answers
Answer:
Management
Explanation:
Better cash management ensures survival of any firm if well handled and managed.
A Cash Management Strategy includes the use of Banks, Saving & Loan Associations, Credit Unions, and other financial institutions provide a variety of financial services or the use of Account services provide customers with online banking offering deposits, investments, credit cards, loans, mortgages, rewards programs and others.
Effective Cash Management Rules involves: balancing your checkbook regularly and Pay your bills on time
And others.
Business is termed as the economic activity that includes the transactions of the exchange of goods and services in terms of cash or monetary currencies. These transactions are possible only by the existence of financial transactions.
The correct answer for the blank is Management
Banks, Savings banks, Credit Unions, and other financial institutions provide a variety of financial services, while Accounts services give consumers access to internet transactions that include deposits, investments, lines of credit, loans, mortgages, or reward schemes, among other things.
Consistently balancing your ledger and paying your payments on time are two effective cash management rules.
To know more about cash management, refer to the link below:
https://brainly.com/question/16928287
Liz just completed a Client Needs Assessment and her client
confirmed that he will require profitability tracking, and need to
create budgets and purchase orders in his accounting solution.
Answers
Answer:
QuickBooks Online Plus
The question and multiple-choices
What is the minimum QuickBooks Online version suitable for Liz's client?
QuickBooks Self-Employed QuickBooks Online Simple Start QuickBooks Online Essentials QuickBooks Online Plus QuickBooks Online Advanced PreviousExplanation:
QuickBooks Online Plus is an advanced feature that small business requires to make better management decisions pertaining to their business. The needs of Liz's client of tracking profitability and the need to create budgets can be meet by installing QuickBooks Online Plus.
Other features of QuickBooks Online Plus include
Keep track of financial records, such as invoices and statements.Update and reconcile payments automatically.Generate accurate estimates and convert them into invoices.Estimate project profitability by taking into account cost factors such as labor and job cost expenses. Automate workflows with rule-based remindersDoes holiday shopping boost the economy? And why?
Answers
Explanation:
Christmas is typically the largest economic stimulus for many nations around the world as sales increase dramatically in almost all retail areas. ... These holiday sales reflected about 19.2 percent of the retail industries total sales that year. Supply and demand is quite prevelant during the holiday season. Merchants know that shoppers will often put off shopping until time becomes an issue and demand more for goods that are shown to be “hot” or in short supply. In some cases manufacturers will create demand by under producing items.
Answer:
Yes it does.
The holiday period can be from November to January, where there are tons of consumers shopping to buy gifts. Robust shopping by the American consumer is now the primary engine powering economic performance.
Consumer spending drives a significantly large part of U.S. GDP. This makes it one of the biggest determinants of economic health.
There are academics who uphold the argument for more public holidays to boost growth - this makes sense since leisure spending is a significant part of consumption.
please give thanks, hit that heart button :)
10 qualities of a great leader pleaseee
Answers
Answer:
1. good listener
2. considers others opinions
3. shows responsibility
4. good problem solver
5. proactive
6. takes up for their actions
7. respectful
8. trustworthy
9. hard-worker
10. communication
hope you do good!
Explanation:
In a _____ plant strategy, plants have the flexibility and capability to produce a range of products. This leads to greater responsiveness to market changes, though at slightly lower levels of productivity.
Answers
Answer:
The correct answer is general-purpose.
Explanation:
When it comes to general-purpose plant strategies, it allows plants to be more flexible than usual and produce a whole variety of products, instead of just focusing on one or few products. This way, plants can diversify easily and cater to their clients' needs and be far more productive and successful.
Variable costs are
O the costs related to the product that have to be paid regardless of the amount you sell
the costs that change depending on a company's performance
O the costs resulting from a business owner's choice when selecting one thing over another and how it will impact the business
O none of the above
Next
HELP PLS
Answers
Answer:
the costs that change depending on a company's performance
Explanation:
Variable costs refer to the costs that fluctuate with the level of production. An increase or decrease in the output level results in variable costs moving in the same direction. If the business stops production, the variable costs will be nil.
Raw materials and packaging costs are good examples of variable costs. The more a company produces, the more materials it consumes, and the higher the costs of purchasing the materials.
Answer:
Costs that change depending on companys performance
Explanation:
EDGE 2021 Entreprenuership Test
The liquidity preference model: a uses the demand and supply of money to determine the level of potential output. b uses the demand and supply of money to determine the unemployment rate. c uses the demand and supply of money to determine the interest rate. d uses the demand and supply of money to determine nominal output. e uses the demand and supply of money to determine the price level.
Answers
Answer:
uses the demand and supply of money to determine the interest rate.
Explanation:
The liquidity preference theory was developed by John Maynard Keynes.
The theory postulates that investors should ask for a higher interest rate the longer the duration of the investment is. The higher interest rate is to compensate investors for lack of liquidity.
According to this theory, the interest rate on long term investments would be the highest, followed by medium term investments. Short term investments would have the lowest interest rates
2. Marcus Gardner is buying a new computer
for $1,299.50. He made a 12% down pay-
ment. How much money did he put down?
A $155.94
B $120.00
C $212.84
D $420.50
(Step by step ) plz
Answers
Answer:
A $155.94
Explanation:
A down payment is an initial payment that is paid cash to the buyer. It is the same as the deposit. Marcus must have been buying the compute of credit. The down payment or deposit shows that the customer is serious about buying the item.
The deposit that Marcus paid is 12%.
The cost of the new computer is $1,229.50
The deposit will be 12% of $1,229.50
=12/100 x $1,229.50
=0.12 x $ 1,229.50
=$155.94
Eric and Chris run a non-regulated natural monopoly producing electricity for a small town. The barrier most likely preventing other firms from competing with her is
Answers
Answer:
increasing returns to scale
Explanation:
The biggest barrier for other firms are increasing returns to scale. This is because Eric and Chris have their company already established and also have their clientele all hooked up and using their service. This allows them to produce a much higher electrical output for their clients with a certain Income. Newer companies will need a much higher income just to be able to produce a similar electrical output in order to try and compete with Eric and Chris.
When does information become as liability for an organization
Answers
Answer:
after college hope it help :)
Explanation:
Answer:
when it is not managed properly
Explanation:
PLATO