In the market for hand-made guitars, when the price of guitars is $800, annual revenues are $640,000.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 54% (11 reviews)
If the price elasticity of demand is less than one then the elasticity of demand is considered as ...View the full answer
Answered By
ANDREW KIPRUTO
Academic Writing Expert
I have over 7 years of research and application experience. I am trained and licensed to provide expertise in IT information, computer sciences related topics and other units like chemistry, Business, law, biology, biochemistry, and genetics. I'm a network and IT admin with +8 years of experience in all kind of environments.
I can help you in the following areas:
Networking
- Ethernet, Wireless Airmax and 802.11, fiber networks on GPON/GEPON and WDM
- Protocols and IP Services: VLANs, LACP, ACLs, VPNs, OSPF, BGP, RADIUS, PPPoE, DNS, Proxies, SNMP
- Vendors: MikroTik, Ubiquiti, Cisco, Juniper, HP, Dell, DrayTek, SMC, Zyxel, Furukawa Electric, and many more
- Monitoring Systems: PRTG, Zabbix, Whatsup Gold, TheDude, RRDtoo
Always available for new projects! Contact me for any inquiries
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
The demand and supply schedules in the market for shoes are given in the following table. a. Find the initial equilibrium price and quantity. b. Suppose the government imposes a new $1.00/unit tax on...
-
In the market for SUVs, several events occur one at a time. Explain the influence of each event on the quantity supplied of SUVs and the supply of SUVs. Illustrate the effects of each event by either...
-
When the price of gasoline is $2.00 per gallon, Joe consumes 1,000 gallons per year. The price increases to $2.50, and to offset the harm to Joe, the government gives him a cash transfer of $500 per...
-
Suppose that you borrow $1000.00 from a friend and promise to pay back $1975.00 in 5 years. What simple interest rate will you pay?
-
Gruner Company produces golf discs which it normally sells to retailers for $7 each. The cost of manufacturing 20,000 golf discs is: Materials ...........$ 10,000 Labor ........... 30,000 Variable...
-
The rise in wealth inequality in the United States has reduced the capacity of much of the population to cope with transitory income shocks. How might you expect that to impact workers preferences...
-
Enter up a purchases analysis book with columns for the various expenses for M Barber for the month from the following information on credit items. 19X6 July 1 Bought goods from L Ogden 220 55 3...
-
Issues raised about Investment Securities you have just started work for Warren Co. as part of the controllers group involved in current financial reporting problems. Jane Hens haw, controller for...
-
#3Quiz You are on your way to an important budget meeting. In the elevator, you review the project valuation analysis you had your summer associate prepare for one of the projects to be discussed:...
-
Alfonso Inc. acquired 100 percent of the voting shares of BelAire Company on January 1, 2020. In exchange, Alfonso paid $198,000 in cash and issued 100,000 shares of its own $1 par value common...
-
It is very difficult to find goods with perfectly elastic or perfectly inelastic demand. We can, however, find goods that lie near these extremes. Characterize demands for the following goods as...
-
Suppose that over a range of prices, the price elasticity of demand varies from 15.0 to 2.5. Over another range of prices, the price elasticity of demand varies from 1.5 to 0.75. What can you say...
-
For sluice gates, how is the discharge coefficient C d defined? What are typical values of C d for sluice gates with free outflow? What is the value of C d for the idealized frictionless flow through...
-
Davis Industries must choose between a gas or electric forklift to move materials around the plant. You cannot buy both as they perform the same function. (They are a mutually exclusive investment.)...
-
You deposit $100 every three months for the next 50 years, first deposit made today. If the interest rate is j4 = 10%, how much do you have three months after your last deposit
-
determining whether a firm financial position is improving or deteriorating requires analysis of more than one set of financial statements
-
Give Brief Summary A backslide rate is a proportion of the progress of a recovery program for substance misuse or criminal way of behaving. Assuming that program is supported by a social effect...
-
Samuel Corp. provides the following information: EBIT = $286.50 Tax (TC ) = 35% Debt = $810 RU = 15% What is the value of the firm
-
In Exercises, complete the tables and use the results to find the indicated limits. 2x - 4x + 7, find lim f(x). x-1 If f(x) = 2x
-
A consultant is beginning work on three projects. The expected profits from these projects are $50,000, $72,000, and $40,000. The associated standard deviations are $10,000, $12,000, and $9,000....
-
Under the current UPA, can Als Feed Barn bring an action against Jason individually for the Cowboy Palaces debt? Why or why not? Grace Tarnavsky and her sons, Manny and Jason, bought a ranch known as...
-
Suppose that after his back injury in 2008, Manny sent his mother and brother a notice indicating his intent to withdraw from the partnership. Can he still be held liable for the debt to Als Feed...
-
Daniel is the owner of a chain of shoe stores. He hires Rubya to be the manager of a new store, which is to open in Grand Rapids, Michigan. Daniel, by written contract, agrees to pay Rubya a monthly...
-
1. Z-Mart had sales of $354,700. Its cost of goods sold was $143,400. What is the gross profit? A) $211,300. B) $231,500. C) $354,700. D) $143,400. E) 40%. 2. Z-Mart had sales of $569,300. Its gross...
-
Interest paid on the principal and also on previously earned interest, assuming that the interest is left in the account, is called _____________________. Group of answer choices Compound Interest...
-
A standard is a unit amount and a budget is a total amount. Group of answer choices True False
Study smarter with the SolutionInn App