he C&C Corporation estimates that its demand function is InQ-400-31nP + 4lnM+0.6lnA, where Q is the quantity demanded per month, P is the product's price in dollars, M is per capita disposable income in thousands of dollars, and A is the firm's advertising expenditures in thousands of dollars per month. (You could round up the answer if you have to). a) If C&C Corporation receives revenues of $150,000 per month from product X and $180,000 per month from product Y. The own price elasticity of demand for product Y is -0.75, the cross-price elasticity of demand between product Y and X is -1.1, and the cross-price elasticity of demand between product X and Y is -1.3. Your Boss is concerned about declining revenues from both products X and Y; she would like to increase your firm's price of X by 10 percent or increase your firm's the price of Y by 10 percent. She would like a written recommendation with prove (calculation) on what to do from you clearly explain? (No explanation no credit).
Answers
Conversely, increasing the price of Y may further decrease the demand for both products and exacerbate the declining revenues.
To determine the recommended course of action for C&C Corporation in response to declining revenues from products X and Y, we need to analyze the price elasticities of demand and their impact on revenue. Given the own price elasticity of demand for product Y (-0.75) and the cross-price elasticity of demand between Y and X (-1.1), it is evident that product Y is price-sensitive and influenced by changes in the price of both Y and X.
To calculate the percentage change in quantity demanded for product Y in response to a 10% increase in its price, we can use the formula: Price elasticity of demand = (% change in quantity demanded) / (% change in price). Rearranging the formula, we have (% change in quantity demanded) = (Price elasticity of demand) * (% change in price).
Using the given own price elasticity of demand for product Y (-0.75) and a 10% increase in price, the percentage change in quantity demanded for Y is estimated to be -0.75 * 10% = -7.5%.
Given that the cross-price elasticity of demand between X and Y is -1.3, a 10% increase in the price of X would result in a percentage change in quantity demanded for Y of -1.3 * 10% = -13%.
Based on these calculations, it is recommended that C&C Corporation increase the price of product X by 10%. This is because the percentage change in quantity demanded for Y (-13%) is greater than the change for Y when its price is increased by 10% (-7.5%). By raising the price of X, the company can generate higher revenues from X while minimizing the negative impact on the demand for Y.
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Related Questions
Each asset account has a normal credit balance.
a. True
b. False
Answers
Each asset account has a normal credit balance is true.
Do assets have a normal credit balance?Expenses have a regular debit balance and income has a typical credit balance. As a result, the credit balance in each asset account is normal. There is a typical debit balance in each liabilities account. Liabilities and owner's equity typically have credit balances, while assets typically have a debit balance.
An account's balance rises on the same side as the side with the typical balance. On the credit side, asset accounts decline. To put it another way, positive numbers for assets and expenses are debited, and negative balances are credited. A revenue account typically has a credit balance; if the revenue account has a debit balance, the business has experienced a loss.
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Adam smith suggests that increased competition will allow prices to be kept ______________________.
Answers
Adam Smith suggests that increased competition will allow prices to be kept at equilibrium or natural price. This is further explained below.
What is equilibrium price?Generally, When there is a balance between the supply of products and the demand for those items, an equilibrium price is reached. Whenever a major index goes through a phase of consolidation or sideways motion
In conclusion, Adam Smith argues that market forces will stabilize prices at a natural level of competition is enhanced.
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On february 2, miles inc. Pays $800 to purchase a one-year insurance policy that will expire next year on january 31. Miles indicates this transaction in its books by recording an $800 reduction in cash and an $800 increase in expenses. Did miles make the proper accounting entries? why or why not?.
Answers
If on february 2, miles inc. Pays $800 to purchase a one-year insurance policy. No miles did not make the proper accounting entries.
What is insurance policy?
Insurance policy can be defined as a coverage that help to cover cost incase of unforeseen circumstance.
Based on the scenario mile did not makes the proper accounting entries based on the following:
Prepaid insurance is not an expense but an asset.Hence, the company should have offset the decrease in cash of the amount of $800 and $800 increase in prepaid insurance into an asset account.Therefore miles did not make the proper accounting entries.
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an undergraduate sport management education prepares students for
Answers
Basic sports management courses prepare students for entry-level positions.
Coursework in sports management majors typically prepares students for careers in amateur, college, and professional sports organizations. These students can benefit from a wide variety of sports-related opportunities after completing a sports management program.
Sports Management is a business line focused directly on sports and leisure. Various subjects flow into sports management, including administration, finance, law, and ethics. A degree in sports management can lead to career opportunities in the world of sports and leisure.
This course consists of his three basic components: General education courses, the core of business management, the core of sports concepts. These program components provide a foundation for developing the knowledge and skills necessary for sports management.
A traditional bachelor's degree consists of three components: General Education, Core Subjects, Electives.
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Two-thirds of a number is two more than one-half of another number. The sum of the number is 129. Find the numbers.
Answers
Answer: 57 ; 72
Explanation:
Given information
2/3 of a number is 2 more than (1/2) of another number
Sum = 129
Set variables
Let x be the first number
Let y be the other number
Set system of equations
\(1)~\dfrac{2}{3} x=\dfrac{1}{2} y+2\)
\(2)~x + y=129\)
Eliminate fractions in the 1) equation
\(\dfrac{2}{3} x\times6=\dfrac{1}{2} y\times6+2\times6\)
\(4x=3y+12\)
Move x and y onto the same side
\(4x-3y=12\)
Current System
\(1)~4x-3y=12\)
\(2)~x + y=129\)
Multiply 3 on both sides in 2) equation
\(x\times3 + y\times3=129\times3\)
\(3x+3y=387\)
Current System
\(1)~4x-3y=12\)
\(2)~3x+3y=387\)
Add 1) equation and 2) equation together
\((4x - 3y)+(3x+3y)=(12)+(387)\)
Expand parenthesis and combine like terms
\(4x - 3y + 3x + 3y = 12 + 387\)
\(4x + 3x - 3y + 3y=399\)
\(7x=399\)
Divide 7 on both sides
\(7x\div7=399\div7\)
\(\Large\boxed{x=57}\)
Substitute the x value into one of the equations to find the y value
x + y = 129
(57) + y = 129
y = 129 - 57
\(\Large\boxed{y=72}\)
Hope this helps!! :)
Please let me know if you have any questions
when should the total dollar value of debits equal the total dollar value of credits in a transaction? multiple choice question. always never sometimes
Answers
The total dollar value of debits should equal the total dollar value of credits in a transaction always.
In double-entry bookkeeping, every transaction affects at least two accounts, with one account being debited and another account being credited. This system ensures that the accounting equation (Assets = Liabilities + Owner's Equity) remains in balance, and the total dollar value of debits must always equal the total dollar value of credits for each transaction.
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If Japan has a comparative advantage in the production of microchips,how would that affect their international trade?
Answers
Answer: countries would purchase microchips from japan because they are cheaper
Explanation:
Answer:
C countries with purchase microchips from Japan because they are cheaper.
Explanation: USATestprep
A firm issued $15 million in preferred stock at a price of $3.25 per share. The preferred shares carry a 13% dividend, or $0.43 annually. After paying fees and costs, the firm realizes $2.89 per share issued. What is the cost of capital for this issuance of preferred stock?
Answers
Answer:
14.8%
Explanation:
Cost of capital for preferred stock can be calculated by a simple formula
Formula: Cost of preferred capital = dividend/(Current price - floatation cost)
As you can see in the question data current price - floatation cost and dividend is already given as $2.89 and $0.43 respectively. We just need to put values in formula.
Cost of preferred capital = $0.43/$2.89 x 100
Cost of preferred capital = 14.8%
PLEASE HELP!!!
4. Match the correct term with its definition.
1. equilibrium price point
2. price
3. surplus
4. equilibrium point
5. shortage
is sunnly
a. the sum of money necessary to purchase a good or service.
b. point of the supply curve prior to the equilibrium price
c. point of the demand curve prior to the equilibrium Price
d. quantity demanded of a product is equal to the quantity supplied at that price
e. point where supply and demand exactly cross each other
Answers
Answer:
1. equilibrium price point: e. point where supply and demand exactly cross each other
2. price: a. the sum of money necessary to purchase a good or service
3. surplus: d. quantity demanded of a product is equal to the quantity supplied at that price
4. equilibrium point: d. quantity demanded of a product is equal to the quantity supplied at that price
5. shortage: b. point of the supply curve prior to the equilibrium price
Explanation:
Note: "sunnly" does not appear to be a term related to economics or this question, so I could not match it with a definition.
The given items can be correctly matched as follows - 1) equilibrium price point - e. point where supply and demand exactly cross each other, 2) price - a. the sum of money necessary to purchase a good or service, 3) surplus - the quantity supplied of a product exceeds the quantity demanded at a given price, 4) equilibrium point - d. quantity demanded of a product is equal to the quantity supplied at that price, shortage - the quantity demanded of a product exceeds the quantity supplied at a given price.
What is equilibrium price point?The equilibrium price point is the point at which the quantity of goods or services supplied is equal to the quantity of goods or services demanded, resulting in market stability. At this price, there is no shortage or surplus of goods or services in the market, as the supply and demand are in balance.
Price is the sum of money necessary to purchase a good or service. Surplus refers to refers to the production or supply of goods or services that exceed demand. Equilibrium point is the point where the supply and demand for a product or service are balanced. Shortage refers to a situation where the demand for a product or service exceeds the available supply.
Hence, the given items can be correctly matched as follows - 1) equilibrium price point - e. point where supply and demand exactly cross each other, 2) price - a. the sum of money necessary to purchase a good or service, 3) surplus - the quantity supplied of a product exceeds the quantity demanded at a given price, 4) equilibrium point - d. quantity demanded of a product is equal to the quantity supplied at that price, shortage - the quantity demanded of a product exceeds the quantity supplied at a given price.
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The governance mechanism MOST closely connected with deterring unethical behaviors by holding top management accountable for the corporate culture is:
Answers
When top management need to be held accountable for unethical behavior, the best way is to use a Board of Directors.
What does a Board of Directors do?
These are the representatives of the shareholders in the leadership of the company.
They are the highest authority in the company and the policies they implement are meant to hold top management accountable for unethical behavior that might threaten the shareholders.
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boi, why am i alive.-
Answers
Answer: so you can grow older
Explanation:
Match the terminolgy. Analysis of customer account balances by length of time they have been unpaid A written promise to pay a specified amount on demand or at a definite time 1. Aging of receivables 2. Bank credit card Emphasizes expected net realizable value of accounts receivable 3. Promissory note 4. Trade receivables Amounts owed by customers from the sale of goods and services 5. Percentage of receivables approach Sales, using this type of credit card are usually treated the same as cash sales
Answers
The terminology can be matched as follows: 1. Aging of receivables,2. Promissory note, 3. Percentage of receivables approach, 4. Trade receivables, 5. Bank credit card.
Aging of receivables refers to the analysis of customer account balances based on how long they have been unpaid. This helps businesses identify overdue accounts and take appropriate actions to collect the outstanding amounts.A promissory note is a written document that serves as a promise to pay a specific amount of money. It includes the terms of repayment, such as the payment amount, due date, and any applicable interest rate.
The percentage of receivables approach is a method used to estimate the expected net realizable value of accounts receivable. It involves calculating a percentage based on historical data or industry standards to determine the amount of receivables that are likely to be collected.
Trade receivables represent the amounts owed by customers as a result of the sale of goods or services. They are recorded as assets on a company's balance sheet and are typically expected to be collected within a specific time period.
Bank credit cards are a type of credit card issued by a bank. When sales are made using a bank credit card, they are usually treated the same as cash sales. The funds are transferred directly to the seller's bank account, providing immediate payment for the goods or services sold.
Matching the terminology helps establish a clear understanding of concepts related to customer account analysis, payment promises, the valuation of receivables, and different types of sales transactions.
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when the supply of coffee decreases and the demand for coffee increases simultaneously, the price of coffee will:a. fallb. either rise or fallc. rised. fall initially and then rise as demand increases to meet the increased supply
Answers
When the supply of coffee decreases and the demand for coffee increases simultaneously, the price of coffee will either rise or fall.
B is correct option.
Two fundamental principles of economics are the law of supply and the law of demand. These two laws explain how supply and demand are affected by price shifts in terms of quantity.The law of demand states that, while other factors remain constant, a product's price increase will result in a decrease in the quantity demanded for the good. As a result, a rise in coffee's price will result in a drop in coffee consumption. Be aware that variables other than coffee price, like income and preferences, can only have an impact on demand for coffee.One such category of products includes tea and coffee. Decreased desire for coffee follows an increase in price for coffee. Therefore, if coffee's price doesn't go down, customers who previously drank coffee will switch to tea. It follows that the market for tea will now likely rise.
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_____ is a labor system based on detailed study of work tasks intended to maximize efficiency and profits for employers
Answers
High performance is a labor gadget based on a detailed observation of work responsibilities supposed to maximize efficiency and income for employers.
Labor is the quantity of bodily, intellectual, and social effort used to provide goods and offerings in an economy. hard work is the effort that human beings make contributions to the production of goods and offerings. labor resources consist of the paintings finished by the waiter who brings your meals at a neighborhood restaurant in addition to the engineer who designed the bus that transports you to high school.
Labour is the essential and active aspect of manufacturing Labour has a critical contribution to the manufacturing of commodities. Labour is the exertion of mind and body undertaken with a view to some goods apart from the pride directly derived from the work.
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how is raytheon pursuing greater revenues and profits?
Answers
Raytheon is pursuing greater revenues and profits because Raytheon is expanding into new markets in the United Arab Emirates and Saudi Arabia.
It should be noted that the main aim of an organization is to maximize profit and revenue. These are vital for the growth and development of the organization.
From the complete information, Raytheon is pursuing greater revenues and profits as the company is expanding into new markets in the United Arab Emirates and Saudi Arabia. Raytheon has set up companies in both countries that will help in addressing the defense requirements and building capacity.
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During the financial crisis it was proposed that firms be provided with a tax credit for investment projects. Such a tax credit would shift Group of answer choices both the demand for loanable funds and the supply of dollars in the market for foreign-currency exchange right. the demand for loanable funds right and shift the supply of dollars in the market for foreign-currency exchange left. the demand for loanable funds left and shift the supply of dollars in the market for foreign-currency exchange right. both the demand for loanable funds and the supply of dollars in the market for foreign-currency exchange left.
Answers
Answer:
I think it would be that the crisis is all about money.
Explanation: Because you need money to buy everything you need.
A transcript should be requested from—-
the post office
your references
former employers
past schools you have attended
Answers
Answer:
Past Schools you have attended
Explanation
Which statement best describes total task chaining?
A. The steps of the behavior chain are taught one at a time, in the order outlined by the task analysis, starting with step one
B. The client is taught one step at a time beginning with the last step of the behavior chain.
C. All previous steps are complete for the student
D. The client is taught all steps of the behavior chain in order and assistance is provided for any step the client is not able to complete independently
E. The client is taught one step at a time starting with the step that is easiest for the client
Answers
The marketing concept that states that a business must find out what consumers want and provide it for them is called the:
Answers
The marketing concept that states that a business must find out what consumers want and provide it for them is called the customer orientation.
What is Customer orientation?Customer orientation can be regarded as the business approach which involves giving attention to customer first by the company.
It focus on helping customers meet their goals and find out what consumers want and provide it.
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One decision all organizations must make is how power and decision-making authority must be shared. As discussed in Chapter 7, organizations may either be centralized, decentralized, or a combination of both, when it comes to who makes the decisions.
Think of an organization with which you are familiar. This may be somewhere you have worked, a non-profit with which you have been associated, or even your own family unit.
How is decision-making authority distributed in this organization?
Is this the most efficient method of decision-making in this instance? Why or why not?
Would you recommend the organization redistributes decision-making power in a different way? If so, what potential benefits would this have to the group?
Answers
In most organizations, decision-making authority is distributed in a centralized or decentralized manner. In a centralized organization, power is concentrated at the top, and decisions are made by a few individuals at the upper management level. In contrast, in a decentralized organization, decision-making authority is distributed across different levels, and decisions are made by those who are closest to the issue.
The most efficient method of decision-making in an organization depends on various factors such as the size and complexity of the organization, the nature of the issue at hand, and the skills and expertise of the people involved. In some cases, centralized decision-making may be necessary to ensure consistency and efficiency. In other cases, decentralized decision-making may be more appropriate to promote innovation and creativity.
If an organization's decision-making process is not effective, then redistributing decision-making power may be necessary. For example, if decision-making is centralized, but upper management is not knowledgeable about the issues on the ground, then decentralizing decision-making may be beneficial. This could lead to increased employee engagement and improved decision-making outcomes. Alternatively, if decision-making is decentralized, but there is a lack of coordination and alignment across different levels, then centralizing decision-making in certain areas may be necessary to ensure consistency and efficiency.
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What are 20 things to do at home when I have nothing to do and have done all my online school?
Answers
1. Eat a carrot
2. Vomit because carrots are disgusting
3. Play video games DUHH
4. Don’t waste your time on brainly
Benny surveyed a group of individuals from diverse backgrounds regarding his company's latest advertisement. He found that the part that most of the individuals remembered about the advertisement was the joke. Which feature of advertisements have the individuals in bennys survey group depicted ?
Answers
Answer:
B). Ad recall
Explanation:
The 'ad recall' feature of the advertisement is being displayed in Benny's survey group as it aims to evaluate the number of people who remembered the latest advertisement of his company within the two days of the display. The survey primarily aims to check how memorable was their advertisement to the people to check if the advertisement was effective enough and able to create desired impact or not. Thus, option B is the correct answer.
Answer:
B. ad recall
Explanation:
For all Plato users
Credit bureaus report credit information in order to:
A. educate the public about interest rates.
B. help lenders make informed decisions.
C. help borrowers choose a lender.
D. help borrowers find easy credit.
SUBMIT
Answers
Answer:
A. educate the public about interest rates.
Answer: b. help lenders make informed decisions.
Explanation:
i took the quiz.
In which market would a producer sell bicycles to consumers?
Answers
In the markets for goods and services, a producer would sell his bike for purchase by customers.
What is the market for goods and services?Consumers buy consumables on the products and services market, and firms sell their commodities there. The market encompasses physical stores, the Internet, and any other location where consumers can exchange products and services.
The trading of finished goods takes place here. Businesses receive payment from customers in exchange for goods. The consumer gives money to the business in a flow. In contrast to this, enterprises can buy the materials they need on the factor market to make an item.
The rule of supply and demand governs how much is produced and at what price in the market for products and services.
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Starbucks just released study Starbucks coffee increases your life span what is the change in demand or quantity demand
Answers
Answer:
There would be a change in demand. there would be an increase in demand. the demand curve would shift rightward
Explanation:
Only a change in the price of a good leads to a change in the quantity demanded. If the price of the coffee increased, the quantity demanded would reduce and if it reduced, it would would increase
So based on the report the quantity demanded would increase. This is because most people want to live longer. This would result in the demand curve shifting rightward
Which form do independent contractors receive from clients to verify income
received during the year?
a. w-2
b. w-4
c. 1040
d. 1099
Answers
Answer:
1099
Explanation:
got it right
Answer:
D.1099
Explanation:
what is the best way to achieve the efficiency potential of a global strategy?
Answers
The best way to achieve the efficiency potential of a global strategy is by carefully considering and implementing several key factors.
Firstly, having a clear understanding of the global market and the specific needs of customers in different regions is crucial. This can involve conducting market research and analyzing local cultures, customs, and regulations. By tailoring the strategy to suit the specific needs of each region, businesses can optimize their operations and increase their chances of success.Secondly, establishing a global network of suppliers, distributors, and partners can help to streamline processes and reduce costs. By leveraging economies of scale, businesses can negotiate better prices and access a wider range of resources and expertise.Thirdly, utilizing technology and automation can greatly enhance the efficiency of a global strategy. This can include implementing digital tools for communication and collaboration, using data analytics to optimize operations, and adopting automation technologies to streamline processes and reduce errors.Fourthly, developing a strong organizational culture and leadership style that supports a global mindset is crucial. This can involve promoting cross-cultural understanding and collaboration, encouraging innovation and creativity, and fostering a sense of shared purpose and values across the organization.
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Renata's US-based lifestyle company decides to invest in a company based in France that specializes in health and wellness. This would be an example of
Answers
People often make investments the health and wellness sector. This would be an example of foreign direct investment.
What is a foreign direct investment (FDI)?This is known as a purchase of an interest that a firm is involved in. Here, the company by a company or an investor are found outside its borders.
The 3 types of FDI are;
Horizontal FDIVertical FDIConglomerate FDIIt is simply a business decision to get or buy a good amount of stake in a foreign business as in the case with Reneta.
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Receivables not expected to be collected should Multiple choice question. not be counted in assets of the company. always be counted in assets of the company. initially be included as assets and then be written off when the customer does not pay.
Answers
Receivables not expected to be collected should not be counted in assets of the company.
Accounts Not ReceivableFor bookkeeping purposes, When a company confirms that it is likely not to receive payment, it should be written off in the journal entries as a debit to allowance for doubtful accounts and then credited to accounts receivable.
Account Not Receivable or collected is regarded as bad debt expense.
Therefore Receivables not expected to be collected are not to be counted in assets of the company.
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What aspect of starting a company does sales NOT play a role in?
Building a team
Pitching investors
O Press and publicity
Selling your product
O None of the above; sales plays a role in all areas
Answers
Answer:
A-building a team?
Explanation:
just a guess, because the rest besides none of the above makes sense, A and E are the ones making me feel like one of the other is the right answer
Option A. Building a team.
What role does sales play in your company?Sales play an important role in building loyalty and trust between customers and the company. Trust and loyalty are the main reasons customers recommend your business to friends and family and write great reviews of your products and services online.
Sales increase business value. It's no secret that a business can't grow without sales. In fact, if a company's total sales do not generate more revenue than the cost of its expenses, then the company is more likely to fail.
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