Solution:
Let's start by assuming that the taxi ride demand is extremely elastic, to the extent that it is vertically sluggish! If the cabbies raise the fair price by 10% from 10.00 per mile to 11.00 per kilometre, the number of riders remains 20.
Total income before fair growth= 20* 10= 200.
Total income following fair growth = 11* 20= 220.
A 10% increase in the fare therefore leads to a 10% increase in the driver's revenue.
Therefore, the assumption in this situation is that the cab drivers think the taxi driving requirement is highly inelastic.
The demand curve facing the drivers of the cab is still inelastic, but not vertically bent.
When the rate increased from 10% to 11, riders declined from 20% to 19%
Total revenue before fair growth is 20* 10= 200
The gap between revenue and fair growth is 19* 11= 209
This means that a realistic 10% raise doesn't result in a 10% boost on income Because the market curve for taxi rides is not 100% inelastic, but rather low inelastic, so that a fair increase (control) allows consumers to lose their incomes.
Answer:
C. the human resources manager
Explanation:
In large organizations, employee recruitment is the function of the human resource manager. The Human resource manager is an expert in employee affairs and works closely with the other managers to hire the right workers for each position.
The human resource manager coordinates the recruitment process, starting with advertising for the position, shortlisting, conducting interviews, and appointing the best candidate.
Answer:
D) It helps managers exercise control after the product has been created and is ready for marketing.
Explanation:
Break-even point is the point where the total cost matches the total revenue,it is helpful to managers in order to control the business,it helps them to know when to implement certain changes or favorable incentives for improved sales and overall revenue.
It is calculated by dividing the total fixed cost/total revenue for one unit minus the variable cost for one unit.
It helps managers to control the profit margins in a given product,and also know the impact of changes to total revenue or profit when a process is Automated.
Answer:
Find attached question with multiple choices
The third option ,72,000 shares, is the correct answer.
Explanation:
A stock split refers to redenomination of shares by increasing the number of shares and proportionately reducing the number par value per share.
A 3-1 share split means that one prior share now commands three shares while the price of one share is apportioned between the three shares
Robinson now 3/1*24,000 shares=72,000 shares
One previous share was $1 par value but the three new shares would $1/3=$0.33 per share instead of the previous $1 par value