Answer:
2) perfectly vertical
Explanation:
When the price elasticity of demand is perfectly inelastic, the demand curve is perfectly vertical. This means that the quantity demanded will remain the same no matter what price.
In this scenario, the supply curve for oranges shifted to the left due to the early freeze, which results in a price increase at every level of quantity demanded. Since the demand is perfectly inelastic, the new equilibrium price will be determined by the how much the supply curve shifts.
Answer:
$965
Explanation:
Calculation to determine what Ending inventory assuming weighted-average cost would be:
First step is calculate the Weighted-average cost
Weighted-average cost = [(480 x $2.48) + (440 x $2.75)] / (480+440)
Weighted-average cost =1,190.4+1210/920
Weighted-average cost = 2400.4/920
Weighted-average cost =2.6091
Now let determine the Ending inventory
Ending inventory = (920-550) x 2.6091
Ending inventory = 370x 2.6091
Ending inventory =$965
Therefore Ending inventory assuming weighted-average cost would be $965
Answer:
0.60
Explanation:
The midpoint formula is used to calculate elasticity by using average percentage in both price and quantity.
The formula is given below:
Percentage change in quantity =<u> (Q2 -Q1) </u> x 100
(Q2 + Q1) / 2
Percentage change in price = <u> (P2 -P1) </u> x 100
(P2 + P1) / 2
Elasticity =<u> Percentage change in price__</u>
Percentage change in quantity
Inserting the data:
Percentage change in quantity =<u> (30 -20) </u> x 100 = <u>10</u> x 100 = 40%
(30 + 20) /2 25
Percentage change in price = <u>($20 - $10)</u> x 100 = <u>10</u> x 100 = 66.6%
($20 + $10) /2 15
Elasticity of supply = <u>40%</u>
66.6%
= 0.60
During the final or phaseout stage of the project life-cycle, scope is the dominant goal of many project managers.
Answer:
The illusion of time
Explanation:
This is because younger people think that they have time to save up later; that if they spend now, they can always make up for it later. On the other hand, older people know that they don't have much time (comparatively) to save money as they did before, so saving money becomes a bigger deal for them.