A person that has many health problems or a high risk of developing many health problems is likely to buy a lot of heaith insurance. This situation is an example of the Tiebout tropothesis the imposhtility theorem moral hased advene veiection
Answers
A person that has many health problems or a high risk of developing many health problems is likely to buy a lot of health insurance. This situation is an example of the Tiebout hypothesis.
One of the major contributions of the Tiebout hypothesis is that it led to the development of new approaches to the study of health care markets. It helped in understanding the health insurance and the demand for it.
A person with many health problems or high risk of developing many health problems are more likely to demand for health insurance as the possibility of illness is higher and so is the need for medical treatment.
The Tiebout hypothesis, also known as the Tiebout model, was named after an economist named Charles Tiebout who proposed the idea of an "optimal jurisdiction." The concept is based on the premise that people should be allowed to choose the level of government services that they want and that the cost of those services should be reflected in the taxes they pay.
In relation to health care, Tiebout's hypothesis suggests that individuals should be free to choose the type and level of health care services they want and that the cost of those services should be reflected in the premiums they pay for health insurance.
A person with many health problems or high risk of developing many health problems are more likely to demand for health insurance as the possibility of illness is higher and so is the need for medical treatment. This means that the demand for health insurance is likely to be greater among people who are at high risk of developing health problems or who already have many health problems.
Overall, the Tiebout hypothesis has been an important tool for understanding health care markets and for developing policies that can improve access to health care services.
To learn more about Tiebout hypothesis
https://brainly.com/question/33090690
#SPJ11
Related Questions
What is the primary role of consumers in a free market economy?
Answers
Discussion 1
In Lesson 1 and Lesson 2, you learned that price elasticities of
demand and supply are important for understanding the response of
consumers and producers to changing demand and supply co
Answers
Lesson 1 and Lesson 2 indeed emphasized the significance of price elasticities of demand and supply in analyzing the reactions of consumers and producers to fluctuations in demand and supply conditions.
Price elasticity of demand measures the responsiveness of the quantity demanded to changes in the price of a product. It indicates how sensitive consumers are to price changes. If demand is elastic, a small change in price will result in a relatively large change in quantity demanded. On the other hand, if demand is inelastic, quantity demanded will change minimally in response to price variations.
Understanding the price elasticity of demand helps businesses determine the potential impact of price changes on their sales revenue. For example, if demand is elastic, a price decrease may lead to a substantial increase in quantity demanded, thereby boosting total revenue. Conversely, a price increase in elastic demand may result in a significant decline in quantity demanded and lower revenue.
Price elasticity of supply, on the other hand, measures the responsiveness of the quantity supplied to changes in the price of a product. It indicates how sensitive producers are to price changes. If supply is elastic, a small change in price will cause a relatively large change in quantity supplied. In the case of inelastic supply, quantity supplied will change minimally in response to price fluctuations.
Understanding the price elasticity of supply helps businesses assess their ability to respond to changes in demand. If supply is elastic, producers can increase output significantly when prices rise, which helps stabilize prices. In contrast, if supply is inelastic, producers may struggle to increase output, resulting in price spikes during periods of increased demand.
Overall, price elasticities of demand and supply provide crucial insights into the dynamics of markets and help businesses make informed decisions about pricing, production levels, and market strategies.
To learn more about fluctuations: click here
https://brainly.com/question/27419417?
#SPJ11
List five organizations where you could volunteer your services. Describe the type of work you might perform for each organization.
Answers
Answer: Five organizations I can volunteer my services are;
Total plc
Shell
Cheveron
Halliburton
Schlumberger
Explanation:
Five organizations I can volunteer my services are;
Total plc
Shell
Cheveron
Halliburton
Schlumberger
Total; I would work as a procurement officer. I would be helping the organization procure their items easily,fast and affordable from the right source
Shell; I would work as an a geologist, to identify locations where natural resources like crude oil can be found
Cheveron; I'll work as an I.C.T personnel
Halliburton; I'll work as a mechanical engineer
Schlumberger; I'll work as a mechanical instructor on air compressors
what is one of the key characteristic of the new career path that is well suited for our changing economy?
Answers
Businessmen should always be ready for the dynamic changes in the economy.
What are the changes in the economy?Market and business environments are marketing terms that refer to the factors and forces that influence a company's ability to create and maintain successful customer relationships.The business environment includes all internal and It is the sum or set of external factors. The business environment is the sum of all external and internal factors that affect a company. It is essential to remember that external and internal elements can influence each other and work together to affect your business. For example, health and safety regulations are external factors that affect the internal environment of business operations. Additionally, some external factors are beyond your control. These factors are often called external constraints.The dimensions of the business environment are Politicaltechnologicalsocialgeographiceconomical etc.To know more about business environment refer to:
https://brainly.com/question/26589766
#SPJ4
what is the impact of atm on banking sector?
Answers
Answer:
Explanation:
ATM s are of great use to the banks as the reduce the number of people storming the banks for withdrawal of money as well as deposit of money it reduces cost of operation and from customer point of view it is available easily near by hence travelling further distance to the bank is not required
ATMs are one of the most convenient services provided by the banks to customers. It is beneficial to banks as it is to its customers. It helps banks to save cost and time in withdrawing money and various other services which are now provided by ATM.
Automated teller machines, or ATMs as they are more commonly referred to, are a convenient way to conduct one-on-one transactions quickly and easily. One can do self-serviced transactions with these machines without a physical teller's aid or a trip to the bank branch. Cash withdrawals, cash deposits, and fund transfers are just a few of the many transactions possible with automated teller machines, or ATMs. Although the majority of customers only use ATMs to withdraw cash, these additional transactions make the service more effective.
With the advent of the ATM, users' financial lives became simpler because they could now perform simple transactions on their own with the aid of an ATM, which was much more practical than often visiting the bank. The ability for users to transact between banks is another significant advantage of an ATM. This means you can still use basic services like cash withdrawals from the ATM even if you don't have an account with the bank that runs the machine. Again, this saves you time and comes in handy in an emergency because you won't need to go to the ATM at your bank every time you need a quick infusion of cash. ATM helps banks operate more cheaply by lowering the number of human operations. The ATM provides service 24 hours a day which means customers can avail of money and other services at any time of the day.
Learn more about ATM : https://brainly.com/question/24198010
Internal channels of business communication are designed to reach _____.
1) within the business itself
2) coworkers and upper management within the company
3) a small, targeted group of consumers
4) a large percentage of the consumer market
Answers
Answer: coworkers and upper management within the company
Explanation:
Internal channels of business communication are designed to reach coworkers and upper management within the company.
Internal communication is simply the communication that takes place between the workers in a company and the top management. It is an open communication strategy that is used in order to carry everyone along and also achieve organizational goals.
What are three elements of negligence?
Actual Harm
Breach of duty
State of mind
Duty of care
Proximate cause
Motive
Answers
Answer:
actual harm
breach of duty
duty to act
What might be an advantage of using credit
Answers
naturebox is a company that sells healthy snacks online. they combine different snacks together in one package. this is an example of , which is a type of price discrimination.
Answers
NatureBox's strategy of combining different snacks together in one package is an example of bundling, which is a type of price discrimination.
Bundling refers to the practice of offering several products or services together as a single combined package, typically at a lower price than if each item was purchased separately.
In this case, NatureBox is combining multiple snack items into one package, which creates value for the consumer by offering a variety of snacks at a lower price than if each snack was purchased individually.
By doing so, NatureBox is able to capture a wider range of customers who may have different preferences for snacks, while also increasing the perceived value of the product.
Bundling can be an effective pricing strategy for companies because it allows them to increase sales volume and revenue by offering multiple products or services at a lower price point.
Additionally, bundling can help companies differentiate themselves from competitors by offering unique product combinations that create more value for customers.
To know more about price discrimination refer here
brainly.com/question/31454297#
#SPJ11
The lead of a screw is the distance that the screw advances in a straight line when the screw is turned 1 complete turn. If a screw is 2 inches long and has a lead of inch, how many complete turns would get it all the way into a piece of wood?
Answers
Answer:
20 turn
Explanation:
CHECK THE COMPLETE QUESTION BELOW
The lead of a screw is the distance that the screw advances in a straight line when the screw is turned 1 complete turn. If the screw is 2 1/2 inches long and has a lead of 1/8 inch, how many complete turns would get it all the way into a piece of wood?
From the question, the screw is 2 1/2 inches long which is the LENGTH , we can convert this to Fraction, which is called an improper fraction, by multiply the denominator (2) by the whole number(2) then add to the numerator (1) all over denominator= [(2×2)+1]/2 = 5/2
The number of turn= Lenght of the screw / lead of the screw
=( 5/2inch)/(1/8inch)
= 5/2 ÷1/8
5/2×8/1
=40/2
=20
Therefore, the complete turns it would get it all the way into a piece of wood is 20 turn
the following is a december 31, 2021, post-closing trial balance for the jackson corporation. account title debits credits cash $ 44,000 accounts receivable 38,000 inventory 79,000 prepaid rent (for the next 8 months) 20,000 investment in equity securities (short term) 14,000 machinery 165,000 accumulated depreciation $ 15,000 patent (net) 83,000 accounts payable 10,000 salaries payable 6,000 income taxes payable 36,000 bonds payable (due in 10 years) 180,000 common stock 140,000 retained earnings 56,000 totals $ 443,000 $ 443,000 required: prepare a classified balance sheet for jackson corporation at december 31, 2021, by properly classifying each of the accounts. (amounts to be deducted should be indicated by a minus sign.)
Answers
The preparation of a classified Balance Sheet for Jackson Corporation at December 31, 2021, is as follows:
Jackson Corporation
Classified Balance SheetDecember 31, 2021
Assets
Current Assets:Cash $ 44,000
Accounts receivable 38,000
Inventory 79,000
Prepaid rent
(for the next 8 months) 20,000
Investment in equity securities
(short-term) 14,000 $195,000
Long-term Assets:Machinery $165,000
Accumulated depreciation (15,000)
Patent (net) 83,000 $233,000
Total Assets $428,000
Liabilities and Equity
Current Liabilities:Accounts payable $10,000
Salaries payable 6,000
Income taxes payable 36,000
Total current Liabilities $52,000
Long-term Liabilities:
Bonds payable (due in 10 years) $180,000
Total liabilities $232,000
Equity:Common stock $140,000
Retained earnings 56,000 $196,000
Total liabilities and equity $428,000
What is a classified balance sheet?A classified balance sheet is a statement of the financial position of an entity at a point in time, with assets classified according to their short and long-term natures.
The equity is also indicated separately with common stock and retained earnings.
Jackson Corporation
Post-closing Trial BalanceDecember 31, 2021
Account Titles Debits Credits
Cash $ 44,000
Accounts receivable 38,000
Inventory 79,000
Prepaid rent
(for the next 8 months) 20,000
Investment in equity
securities (short term) 14,000
Machinery 165,000
Accumulated depreciation $ 15,000
Patent (net) 83,000
Accounts payable 10,000
Salaries payable 6,000
Income taxes payable 36,000
Bonds payable (due in 10 years) 180,000
Common stock 140,000
Retained earnings 56,000
Totals $ 443,000 $ 443,000
Learn more about a classified balance sheet at https://brainly.com/question/26324705
#SPJ1
The HR recruiting specialist and line managers at Clearwater Electronics work closely together when hiring new employees . The line managers are ultimately responsible for the final selection of a new employee , but the HR recruiting specialist serves an important role by providing information about potential employees and arranging for interviews . Why is this service helpful to the line managers ? The recruiting specialist can help the line managers from rushing the hire because there is an immediate need to fill positions The recruiting specialist can help the line managers from expecting too much too soon from new employees . The recruiting specialist can help the line managers from interviewing applicants who are not qualified for the positions . The recruiting specialist can help the line managers from relying too much on the interview , a common recruiting pitfall .
Answers
Answer: The recruiting specialist can help the line managers from interviewing applicants who are not qualified for the positions .
Explanation:
Since the line managers are responsible for the final selection of a new employee while the HR recruiting specialist gives information about potential employees and arranging for interviews, then the recruiting specialist can help the line managers from interviewing applicants who are not qualified for the positions.
By getting information from the potential employees, the recruiting specialist can know the people who are qualified for the job and possess the necessary requirements for the job and those who aren't qualified.
Discuss how a manager might make sure that the performance plan for each of her direct reports was driven by organizational strategy and the
business plan. How can information systems support this goal?
Answers
To ensure that the performance plan for each of her direct reports is driven by organizational strategy and the business plan, a manager can take several steps such as ensure that each direct report has a clear understanding of the organization's strategy. This information systems support this goal can be used to provide real-time performance data.
Firstly, she should ensure that each direct report has a clear understanding of the organization's strategy and how their role contributes to its achievement, this can be achieved through regular communication and training sessions. Secondly, the manager should work with each direct report to set performance goals that align with the organizational strategy. The goals should be specific, measurable, achievable, relevant, and time-bound. The manager should also ensure that each direct report has the necessary resources and support to achieve their goals.
To support this goal, information systems can be used to provide real-time performance data, such as sales figures, customer feedback, and productivity metrics. This information can be used to track progress towards goals and identify areas for improvement. Information systems can also be used to automate performance evaluations and provide performance feedback to direct reports. Overall, information systems can help to align performance plans with organizational strategy and improve the performance of direct reports.
Learn more about communication at:
https://brainly.com/question/29484724
#SPJ11
tilly's inc. is a chain of cafes. the company focuses primarily on customers who are aged between 18 and 35 and earning about $15,000 to $30,000 annually. this segmentation of customers by tilly's is known as its: retail market. target market. integrated market. global market. lfree market.
Answers
Tilly's Inc., a chain of cafes, is primarily focusing on customers aged between 18 and 35, earning about $15,000 to $30,000 annually. This segmentation of customers by Tilly's is known as its: target market. The correct option is B.
A target market is a specific group of consumers that a company focuses on when creating marketing strategies and selling products or services. By segmenting their customers based on age and income, Tilly's can tailor their marketing efforts and offerings to better cater to the needs and preferences of their chosen demographic.
This approach helps Tilly's maximize the effectiveness of their marketing efforts and improve the overall customer experience for their target audience.
To know more about target market, refer here:
https://brainly.com/question/13055616#
#SPJ11
Complete question:
tilly's inc. is a chain of cafes. the company focuses primarily on customers who are aged between 18 and 35 and earning about $15,000 to $30,000 annually. this segmentation of customers by tilly's is known as its:
a. retail market.
b. target market.
c. integrated market.
d. global market.
e. free market.
What makes you buy a candied vegetable or a candied fruit?
Answers
Answer: Your curiosity on whether it tastes like any other candy or not.
Explanation:
Answer:
Eat whatever you like not whatever makes other people happy also the anwser is either a b c or d
Explanation:
Which of the following forms should be used by a company to report a payment of $1,500 to a computer consultant who is not an employee of the company?a. Form W-2b. Form 1099-DIVc. Form 1099-MISCd. Form W-4 e. Form 1099-INT
Answers
Answer:
The correct form that should be used by a company to report a payment of $1,500 to a computer consultant who is not an employee of the company is c. Form 1099-MISC.
Explanation:
Form 1099-MISC is used to report payments made in the course of a trade or business to individuals or non-corporate entities who are not employees. The form is used to report various types of income, including payments for services performed by independent contractors, such as computer consultants.
Form W-2, on the other hand, is used to report wages paid to employees of a company. It is not appropriate to use Form W-2 to report payments made to an independent contractor.
Form 1099-DIV is used to report dividends paid to shareholders of corporations, while Form W-4 is used by employees to provide their employers with their withholding allowances. Form 1099-INT is used to report interest income paid to individuals. None of these forms are appropriate for reporting a payment made to an independent contractor for services rendered.
Can visit https://www.irs.gov/instructions/i1099gi to know more.
Determine whether the results appear to have statistical significance, and also determine whether the results appear to have practical significance. in a study of a gender selection method used to increase the likelihood of a baby being born a girl, 2097 users of the method gave birth to 1031 boys and 1066 girls. there is about a 23% chance of getting that many girls if the method had no effect.
Answers
Answer and Explanation:
Because there is a 23% chance of getting that many girls by?chance, the method has A) has statistical significance B) does not have statistical significance C) has practical significance D) does not have practical significance. A) Most or B) Not many couples would likely use a procedure that raises the likelihood of a girl from approximately? 50% rate expected by chance to the what % produced by this method, so this method A) has statistical significance B) does not have practical significance C) does not have statistical significance. D) has practical significance.
Since there is a 23 percent probability which many women can get by probability, Method B) has no statistical significance
From this method, the girl's percentage is
= 1066 ÷ 2097
= 0.5084
or
= 50.84%
Not so much of couples will actually use a technique that increases a girl's probability from the approximately 50 percent rate predicted by chance to the 50.84 percent provided by this process, so this approach B) has no practical significance
State two advantages of advertising in a newspaper compared to radio advertising.
Answers
Answer:
Radio advertising is come and gone once it plays so people can miss it.
Newspaper advertising is cheaper.
Explanation:
Record the information you found for steps 2 and 3 here. Make sure you discuss how the company got money to start the business, employee data, and what products or services the company provides in comparison with what other similar business plans are offering.
Answers
The information described above is a Market Survey/Research. A market survey is research included in a business plan that must be carried out prior to starting a business.
What is a business plan?A business plan is a document that outlines the results of a person's market research and must contain the following:
Sales plansMarket StrategyFinancial StrategiesRisk Management plans etc.Learn more about business plans at:
https://brainly.com/question/25311149
#SPJ1
What is a benefit of career planning that helps you keep up with rapid change?
O Planning slows down your ability to evaluate how well your career path is working for you.
O Rapid change makes it easy to find information on jobs and companies that interest you.
You can make plans that you will never need to change.
It helps you learn about trends in your career field.
Answers
Answer: It helps you learn about trends in your career field.
Explanation: I took the test |
\/
What is economic growth and it's best example?
Answers
Answer:
Economic growth is defined as an increase in a nation's production of goods and services. An example of economic growth is when a country increases the gross domestic product (GDP) per person. The growth of the economic output of a country. As a result of inward investment Eire enjoyed substantial economic growth.
Explanation:
Heres another example, "If the Central Bank cut interest rates, this would provide an incentive for firms to invest (borrowing would now be cheaper). This investment is a component of AD and AD will rise. With higher investment, more people will be employed, and there is a purchase of raw materials."
Hope this helps! <3
parker was granted a job interview for an it audit position at a bank. she wanted to get a haircut for the interview, but because she is new in town and does not know the salons in the area, she made a decision based on her reading of online reviews. she walked into style it up and told the stylist she wanted a layered cut. the stylist ended up giving parker a blunt cut with no layers and charged her $125. parker was not pleased. which of the following exemplifies the salon acting quickly and taking ownership of the service failure?
Answers
This exemplifies the salon acting quickly and taking ownership of the service failure Apologize for the error and set Parker up with a more experienced stylist to correct the cut on the spot, free of charge.
He exemplifies, and does not most effectively hold forth, an issue for the terrible. This policy exemplifies that failing by using taking no account of disincentive results. common the e-book exemplifies considerate interdisciplinarity at its pleasant. It as a substitute exemplifies the truth that our love is often imperfect.
To show something publicly: He often exhibits on the art gallery. During the summer the academy will show off several prints that are rarely seen. He exhibited excellent self-control considering her rudeness.6 days ago
Learn more about exemplifies here https://brainly.com/question/27809220
#SPJ4
hermosa vista company issued $210,000 5-year, 7.25% bonds and received $214,334 in cash. the market rate of interest when the bonds were issued was 6.75%. what is the amount of interest expense to be recorded for the first annual interest period if the company uses simplified effective-interest amortization?
Answers
The amount of interest expense to be recorded for the first annual interest period is $13,465.
To determine the amount of interest expense to be recorded for the first annual interest period, we need to use the simplified effective-interest amortization method. Under this method, the interest expense is calculated as a percentage of the carrying value of the bond liability, which decreases over time as the bond matures and the principal is paid off. First, we need to calculate the annual interest payment on the bonds. The coupon rate of the bonds is 7.25%, which means the annual interest payment is:
$210,000 × 7.25% = $15,225
Next, we need to calculate the effective interest rate on the bonds, which takes into account the market rate of interest and any premium or discount on the bond issuance. Since the bonds were issued at a premium (i.e., the cash received was more than the face value of the bonds), the effective interest rate will be less than the coupon rate.
To calculate the effective interest rate, we can use the following formula:
Effective interest rate = Coupon rate - Bond premium / Bond carrying value
Bond carrying value = Bond face value + Bond premium
Bond carrying value = $210,000 + ($214,334 - $210,000) = $214,334
Bond premium = $214,334 - $210,000 = $4,334
Effective interest rate = 7.25% - ($4,334 / $214,334) = 6.28%
Finally, we can calculate the amount of interest expense for the first annual interest period:
Interest expense = Bond carrying value at beginning of period × Effective interest rate
Bond carrying value at beginning of period = Bond face value + Bond premium - Amortized bond discount
Since there is no bond discount in this case, the bond carrying value at the beginning of the first annual interest period is:
$210,000 + $4,334 = $214,334
Interest expense = $214,334 × 6.28% = $13,465
Therefore, the amount of interest expense to be recorded for the first annual interest period is $13,465.
For more such questions on interest expense
https://brainly.com/question/28427118
#SPJ11
At times, employees may engage in a __________, that is, a strike without the union's consent, or a slowdown, wherein employees report to work but intentionally decrease their productivity.
Answers
Answer:
The answer is wildcat strike
Explanation:
At times, employees may engage in a Wildcat strike that is, a strike without the union's consent, or a slowdown, wherein employees report to work but intentionally decrease their productivity.
management can best be defined as . a. people working together to achieve a set of goals b. the set of processes used to get members of the organization to work together c. achieving organizational goals in an efficient and effective manner d. making the right decisions and successfully implementing them e. the ability to be reliable and complete all tasks in a timely manner
Answers
Our definition of management is a method for achieving organisational objectives. A process is a collection of ongoing, connected operations.
Who provided the most accurate management definition?
"Management is a multifunctional organ that oversees work, business, managers, and employees." Peter F. Drucker provided this definition of management in The Practice of Management. The process of achieving organisational goals while utilising both human and non-human resources to continuously increase the value delivered to society is referred to as management. Management as a practise or talent: the act of directing or controlling something (such as a business) New owners managed the company better, using sensible ways to achieve their goals.
To know more about managment click on the link below:
https://brainly.com/question/1276995
#SPJ4
Fine print contains what? A. Only stuff lawyers require B. A bunch of useless info C. Clear language designed to be easy to read D. Virtually all of the important info in an agreement. Which is it?
Answers
Answer:
D
Explanation:
A fine print is a term that refers to the business usage of the terms and the conditions.
Have important information regarding the company or the documents that are placed in the footnotes and they are essential for entering into an agreement.Hence the option D is correct.
Learn more about the Fine print contains what.
brainly.com/question/21740513.
Company XYZ made no adjusting entry for accrued and unpaid employee salaries of $5,000 on December 31. The entry to record the adjusting entry should have been: O Debit Salary Expense, $5,000; credit Cash, $5,000 O Debit Salary Expense, $5,000; credit Fees Earned, $5,000 Debit Salary Expense, $5,000; credit Prepaid Salary, $5,000 O Debit Salary Expense, $5,000; credit Salaries Payable, $5,000
Answers
Company XYZ made no adjusting entry for accrued and unpaid employee salaries of $5,000 on December 31. The entry to record the adjusting entry should have been Debit Salary Expense, $5,000; credit Cash.
The polar opposite of credits is a debit. Credits indicate money coming into an account, whereas debits represent money leaving it. All debts are stated on the top lines of a conventional journal entry, and all credits are listed on the line directly beneath debits.
A debit (DR) is a transaction that appears on an account's left side. Either an asset or expense account is increased, or an equity, liability, or income account is decreased (you will learn more about these accounts later). For instance, you debit your asset account by adding the cost of a new computer to the left side of the account.
Learn more about Debit here:
https://brainly.com/question/31056795
#SPJ4
tangshan china's stock is currently selling for $160.00 per share and the firm's dividends are expected to grow at 5 percent indefinitely. assuming tangshan china's most recent dividend was $5.50, what is the required rate of return on tangshan's stock?
Answers
The rate of return on China's stock is 8.44% if its stock is directly selling for $160.00 per claim and the firm's dividends are predicted to increase at 5%.
Stock price = $160.00 per share
Growth rate = 5%
Dividend rate = $5.50
The required rate of return is the lowest amount of earnings as a return an investor will desire or accept for taking the chance of financing in stock or another type of firm.
To calculate the required rate of return, we need to use the formula,
r = (D / P) + g
r = ($5.50 / $160.00) + 0.05
r = 0.0344 + 0.05
r = 0.084
r = 8.44%
Therefore, we can conclude that the required rate of return on Tangshan China's stock is 8.44%.
To learn more about the required rate of returns,
https://brainly.com/question/13861238
#SPJ4
A. Suppose the equilibrium price in the market is $24 and the price elasticity of demand for the linear demand function at the market equilibrium is -1.5.
Then we know that (show work):
A. demand is inelastic.
B. marginal revenue is $8.
C. marginal revenue is $20.
D. demand is unit elastic.
Answers
The correct answer is demand is inelastic.option A.
A. demand is inelastic.
The price elasticity of demand (PED) is -1.5, which indicates an elastic demand since the absolute value of PED is greater than 1. However, since the equilibrium price is $24 and the price elasticity is negative, it means that demand is inelastic.
Inelastic demand occurs when the percentage change in quantity demanded is less than the percentage change in price. Therefore, the correct answer is A. demand is inelastic.
When the price elasticity of demand is -1.5, it means that a 1% increase in price will result in a 1.5% decrease in quantity demanded. Since demand is inelastic, the total revenue increases as the price increases.
Marginal revenue (MR) is the additional revenue generated from selling one more unit of a product. In a linear demand function, MR is twice the slope of the demand function.
Given that the equilibrium price is $24, the slope of the demand function at the market equilibrium is -1.5. Therefore, the marginal revenue can be calculated as -1.5 * $24, which equals -$36.
However, since the slope is negative, the magnitude of the marginal revenue is considered positive, so the correct answer is not B. or C. Instead, the correct answer is A. demand is inelastic.option A.
for such more questions on demand
https://brainly.com/question/18550230
#SPJ8
What guidelines must colleagues follow when providing gifts, meals, entertainment or other things of value to clients, customers, or third parties
Answers
The guidelines that is needed to be followed by colleagues when providing gifts, meals or entertainment to clients are;
The colleagues should make sure gift or entertainment is not been perceived as a bribe by clients.The gifts or entertainment must be consistent as regards the accepted business practice.The gift should not make the recipient to feel insecure in making a fair decision.When gifting out some meals or entertainment to clients, there are some necessary consideration that is needed to be made so that the recipient won't feel unsecured with the gift.
In the process of gifting, one of the guidelines is that the gift should look like a bribe which means it must be aligned with business or practice of the organization
We can conclude that when a colleagues when providing gifts, meals to clients it should be done in way that follows accepted business practice.
Learn more about how to present gifts to clients at:
https://brainly.com/question/17387714