Answer: Inelastic
Explanation:
Based on the information given, we would calculate the elasticity of demand which would be:
= (Change in Quantity / Change in Price) (Initial Price/ Initial Quantity)
Change in Quantity = 1800 - 2000 = -200
Change in Price = 50 - 40 = 10
Initial Price = 40
Initial Quantity = 2000
Elasticity of demand would then be:
= (-200/10)(40/2000)
= (-20)(0.02)
= -0.4
Since elasticity of demand is less than 1, it is an inelastic demand.
Answer:
$1,059,050
Explanation:
The computation of the anticipated level of profits for the expected sales volumes is shown below:
Expected sales 209,000 305,000
Particulars Chicken Fish
Sales $815,100 $1,525,000
Less:
Variable cost -$407,550 -$762,500
Contribution margin $407,550 $762,500
Now the profit would be
= Total contribution margin - total fixed cost
= $407,550 + $762,500 - $111,000
= $1,059,050
The sales are variable cost are come by multiplying the units with its price per taco.
Answer:
Interest for second year $2,114.08
Explanation:
given data
loan Amount = $40,000.00
Interest rate r = 6.00%
time period t = 7
solution
we get here first Equal Monthly Payment EMI that is express as
EMI = 
................1
here P is Loan Amount and r is rate and t is time period
put here value and we get
EMI = 
EMI = $7165.40
now
we get here interest for second year that is
Closing balance at year 1 = opening balance + Interest - EMI Payment
Closing balance at year 1 = $40,000 + $2400 - $7165.40
Closing balance at year 1 = $35234.60
so Interest for second year $2,114.08
Entrepreneurs are people that make their own business. Most businesses tend to have a rough start and can possibly even fail. It depends on how the person creating the business acts and how determined they are to make the business flourish. Although many rich people may of started off of just one product that got advertised well and was sold quickly. Even if it isn't a product but more so a service, you can be very successful. Just know what the people want.
Hope this helped!
