euros to the dollar. a. Did Latimore make or lose money on the exchange rate movement? How much? Do not round your intermediate calculations. Round your answer to the nearest dollar, Enter your answer
Answers
L will lose money on the exchange rate movement. The amount of loss will be -$440,000.
Amount invested by L Company = $8.3 million.
Foreign exchange rate at the time of investment = 1.1500 Euros
Foreign exchange rate at the end of year = 1.2000 Euros
To find profit / - loss in one year due to change in Euro - Dollar foreign exchange rates:
Profit/ Loss = Amount of investment × (FE rate at the start of year - FE rate at the end of year)
= $8,800,000 × (1.15 -1.20)
= $-440,000.00)
Thus, the amount of loss will be -$440,000.
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The given question is incomplete, so the most probable complete question is,
The Latimore Company invested $8 million in a new plant in Italy...
The Latimore Company invested $8 million in a new plant in Italy when the exchange rate was 1.1500 euros to the dollar. At the end of the year, the rate was 1.2000 euros to the dollar.
Did Latimore make or lose money on the exchange rate movement? How much? Do not round your intermediate calculations. Round your answer to the nearest dollar, Enter your answer.
Related Questions
question marks exist at a cost disadvantage and exhibit few opportunities for growth at a reasonable cost. T/F?
Answers
True. Question marks, also known as problem children or wildcats, are products or services in a company's portfolio that have a low market share in a high-growth market.
They require significant resources and investments to capture a larger market share but offer uncertain prospects for success.
Question marks exist at a cost disadvantage because they require substantial investment in marketing, research and development, and production to compete with established competitors and gain market share. These investments may not generate immediate returns or guarantee success, resulting in a cost disadvantage for the company.
Additionally, question marks exhibit few opportunities for growth at a reasonable cost. Since they have a low market share, they face challenges in generating sufficient revenue and profit to cover the high costs associated with their development and expansion. The potential for growth exists, but it often requires substantial investments and may not be achievable at a reasonable cost.
As a result, companies must carefully evaluate their question marks and decide whether to allocate resources for their growth or consider divestment if the opportunities for growth do not justify the associated costs.
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hours of labor or number of workers are commons ways of measuring a comapany's?
Answers
What are the three ways the argument section of a cover letter can be formatted
Answers
Which of the following are steps in the Incident Reporting Process? (select all that apply)
review by management
develop changes in care
enact changes in care
record the incident
Answers
Answer:
review by management
develop changes in care
enact changes in care
record the incident
Review by management, develop changes in care, enact changes in care, record the incident are the following steps in the Incident Reporting Process.
What is Process?A process is a set of decisions and actions used to carry out work. Although we may not be aware of them, processes are present in every sphere of our lives, including work and leisure.
Employees who get sick or hurt at work are given the treatment and help they require thanks to an incident reporting mechanism. In order to manage and improve preventive measures, it also helps with the recording and tracking of incidents.
Therefore, all the steps are the part of Incident Reporting Process.
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At the end of the video, there is the implication that "selling out" has a different meaning for today’s teens than for past generations. Do you think this is true? Explain.
Answers
Answer: No, it's still the same
Explanation:
Selling out is the process of having your product completely bought by your customers either at an event or through a period of a day sales. The meaning of the word "sold out" still holds for the past generation and also this generation or teens today
What is a deductible and why is it important to know how it affects your finances?
Answers
ANSWER: A deductible is the amount of money that the insured person must pay before their insurance policy starts paying for covered expenses.
Explanation:
The amount you pay for covered health care services before your insurance plan starts to pay. With a $2,000 deductible, for example, you pay the first $2,000 of covered services yourself. A fixed amount ($20, for example) you pay for a covered health care service after you've paid your deductible.
alpha company bought 75 units of inventory for $4 each and 25 units of inventory for $5 each. alpha's weighted average cost per unit is . multiple choice question. $4.50 $4.25 $5 $4
Answers
75 inventory units were purchased by Alpha Company for $4 each, while 25 were purchased for $5 each. The weighted average price per unit for Alpha is $4.25.
The weighted average cost approach divides the cost of the commodities available for sale by the number of units available for sale. This method is typically used when inventory items are so similar to one another or blend into one another that it is challenging to assign accurate pricing to single units.
Divide the total cost of the products purchased by the number of units on hand to determine the weighted average cost. You'll need to know the sum of beginning inventory and recent purchases in order to calculate the cost of the things that are currently for sale.
The following formula can be used to compute the weighted average cost:
Weighted average cost per unit = Total cost ÷ Total number of units
= 75 × 4 + 25 × 5 ÷ 75 + 25
= 425 ÷ 100
= 4.25 per unit
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measure the diameter of a tin in mm and write down the real diameter in mm
Answers
Based on the context of the question and the image, the required real diameter of the tin is 250 mm.
What is the diameter?Diameter is a term. that is used to describe the measurement of the length of a straight line that passes through the center of a circular object, such as a circle or a sphere.
Generally, diameter is defined as the distance between two points on the object's edge that are furthest from each other and that pass through the center of the object.
Therefore, in this case, given that the diameter of the tin in the picture is 10 cm, then the actual diameter of the tin can be calculated as:
Actual Diameter = 2.5 x Picture Diameter
Actual Diameter = 2.5 x 10 cm
Actual Diameter = 25 cm
Thus, to convert the actual diameter to millimeters (mm), we can multiply by 10 and it is depicted as follows:
Actual Diameter in mm = Actual Diameter x 10
Actual Diameter in mm = 25 cm x 10
Actual Diameter in mm = 250 mm
Therefore, in this case, it is concluded that the correct answer is 250 mm.
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Fedex has been using ________ to develop models of how customers will respond to price changes and new services.
Answers
"Fedex has been using data analytics or machine learning to develop models of how customers will respond to price changes and new services." These techniques help them analyze historical data, customer behavior patterns, and other relevant factors to make informed predictions about customer responses to different business strategies.
FedEx, like many other modern companies, utilizes Machine Learning (ML) models to enhance various aspects of its operations and services. Machine learning algorithms enable FedEx to analyze large volumes of data, optimize routes for deliveries, predict shipping times more accurately, prevent package damage, and improve customer service. Additionally, FedEx can use ML models to gain insights into customer behavior, preferences, and responses to different pricing and service options, as mentioned in the previous response. These AI-powered models play a crucial role in making FedEx's logistics and shipping processes more efficient and effective.
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When the Brazilian real declines in value against the euro, a European-based company that makes all of its goods at a plant in Brazil and then exports the Brazilian-made goods to those European countries where the currency is euros a. has no interest in whether the euro grows stronger or weaker versus the Brazilian real. b. is in better position compete against the makers of the same good whose plants are located in euro-based European countries. c. is likely to lose sales and market share and become less profitable. d. is in worse position to compete against the makers of the same good whose plants are located in the United States. e. is in worse position to compete against the makers of the same good whose plants are located in euro-based European countries.
Answers
When the Brazilian real declines in value against the euro, a European-based company that makes all of its goods at a plant in Brazil and then exports the Brazilian-made goods to those European countries where the currency is euros is in a better position to compete against the makers of the same good whose plants are located in euro-based European countries (option b).
This is because the cost of production in Brazil will be lower due to the weaker Brazilian real. As a result, the European-based company can produce goods at a lower cost in Brazil, and when they export these goods to European countries, the company can either offer more competitive prices or maintain the same prices and achieve higher profit margins. In either case, this puts the company at an advantage when competing against manufacturers who produce goods in euro-based European countries, where production costs are likely to be higher due to the stronger euro.
In summary, a weaker Brazilian real relative to the euro allows the European-based company with production facilities in Brazil to gain a competitive edge in the market by having lower production costs, leading to either more attractive pricing or increased profitability compared to competitors with production facilities in euro-based European countries.
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in economics we calculate percentage change of a variable a little different than the way it is calculated in everyday life. for example, if i go to the grocery store and buy 9 apples this week and 11 apples next week, the percentage change (according to the economic formula) is:
Answers
In economics, the percentage change is calculated differently from everyday life is: 2 divided by 11, or 18.2%
To calculate the percentage change between two points, you will use the formula:
\((current value - initial value) / initial value.\)
For example: if you purchased 9 apples this week and 11 apples next week, the percentage change can be calculated as follows:
percentage change between two points
= \((11 - 9) / 11 = 2 / 11 = 0.18 or 18.2%.\)
It is important to remember that the formula for calculating percentage change in economics always involves taking the difference between the initial and current values, and then dividing by the initial value. Using this formula, you can calculate the percentage change between two points easily.
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A firm uses labor L and capital K to produce an output y according to the production function y = f(LK) = VLK. The wage rate for labor is u, and the rental rate on capital is r. The Inarginal product of labor is MPL(L, K(1/2) and the marginal product of capital is MPK(L, K). Derive the long-run conditional input demald functions L L(w, r, y) and K K(w,r,y), and the long-run cost function, c(y). 1 mark
Answers
The long-run conditional input demand functions for labor and capital are \($L(w, r, y) = \left(\frac{w}{VMP_LK}\right)^{\frac{1}{2}} \cdot \left(\frac{y}{V}\right)^{\frac{1}{2}}$\) and \($K(w, r, y) = \left(\frac{r}{VMP_LK}\right)^{\frac{1}{2}} \cdot \left(\frac{y}{V}\right)^{\frac{1}{2}}$\), respectively. The long-run cost function is \($c(y) = 2V^{\frac{1}{2}} \cdot \left(w^{\frac{1}{2}}r^{\frac{1}{2}} + yVMP_LK^{-\frac{1}{2}}\right)$\), which exhibits constant returns to scale.
To derive the long-run conditional input demand functions, we need to minimize the cost of producing a given level of output y. This implies solving the following optimization problem:
minimize wL + rK subject to y = VLK
where w and r are the wage rate and rental rate on capital, respectively.
Using the Lagrange multiplier method, we can form the Lagrangian as follows:
L = wL + rK - λ(y - VLK)
Taking partial derivatives with respect to L, K, and λ, we get:
∂L/∂L = w - λVK = 0
∂L/∂K = r - λVL = 0
∂L/∂λ = y - VLK = 0
Solving for λ in the first two equations and equating them, we get:
w/VK = r/VL
Solving for L and K in terms of w, r, and y, we get:
\($L(w, r, y) = \left(\frac{w}{VMP_LK}\right)^{\frac{1}{2}} \cdot \left(\frac{y}{V}\right)^{\frac{1}{2}}$\)
\($K(w, r, y) = \left(\frac{r}{VMP_LK}\right)^{\frac{1}{2}} \cdot \left(\frac{y}{V}\right)^{\frac{1}{2}}$\)
where V = MP_LK is the constant returns to scale (CRS) production function.
The long-run cost function is given by c(y) = wL(w, r, y) + rK(w, r, y). Substituting the expressions for L and K, we get:
\($c(y) = 2V^{\frac{1}{2}} \cdot \left(w^{\frac{1}{2}}r^{\frac{1}{2}} + yVMP_LK^{-\frac{1}{2}}\right)$\)
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please please can someone help i need a full answer by 11pm =)
In addition to the 3 types of financial aid, students can also get academic loans. Today, we’ll focus on:
1. Grants
2. Scholarships
3. Work study
There are 3 questions to ask about financial aid:
1. How do you get the money?
2. Why are you getting the money?
3. Do you have to pay the money back?
Research online to answer these questions for each type of financial aid above. What kind of financial aid is the most appealing to you? Why?
Answers
Answer:
Grants:
How do you get the money? Grants are awarded to students based on financial need, academic achievement, or other specific criteria set by the grant provider. To apply for a grant, students typically need to complete the Free Application for Federal Student Aid (FAFSA) or other application required by the grant provider.
Why are you getting the money? Grants are designed to provide financial assistance to students who demonstrate a need for financial aid or meet specific eligibility requirements. The money can be used to cover tuition, fees, and other educational expenses.
Do you have to pay the money back? No, grants are typically considered gift aid and do not need to be repaid.
Scholarships:
How do you get the money? Scholarships are awarded based on academic achievement, talent, leadership, or other specific criteria set by the scholarship provider. To apply for a scholarship, students may need to complete an application, provide essays or letters of recommendation, and meet specific eligibility requirements.
Why are you getting the money? Scholarships are designed to provide financial assistance to students who demonstrate academic excellence, talent, or meet specific eligibility requirements. The money can be used to cover tuition, fees, and other educational expenses.
Do you have to pay the money back? No, scholarships are typically considered gift aid and do not need to be repaid.
Work study:
How do you get the money? Work-study programs provide students with part-time jobs on or off-campus. Students must apply for work-study by completing the FAFSA or other application required by the school.
Why are you getting the money? Work-study programs provide students with the opportunity to earn money to help pay for their educational expenses while gaining valuable work experience.
Do you have to pay the money back? No, work-study programs provide students with an opportunity to earn money and do not need to be repaid.
Among the three types of financial aid, scholarships are the most appealing to me because they are awarded based on academic achievement or talent, which rewards hard work and dedication. Also, scholarships do not need to be repaid, so I do not have to worry about accumulating debt. Additionally, scholarships can cover a significant portion of my educational expenses, allowing me to focus on my studies and achieve my academic goals without the burden of financial stress.
Explanation:
The formula for using monthly advertising expenditure to predict monthly sales revenue for a certain company is Y' = 1.81X + 5843 (all values in dollars). This indicates that a. the company is wasting money on advertising b. 5843 is spent on advertising each month c. each dollar spent on advertising increases revenue by $1.81 d. spending 5843 dollar on advertising increases sales by a factor of 2
Answers
The correct answer is c. Each dollar spent on advertising increases revenue by $1.81.
In the given formula, Y' represents the predicted monthly sales revenue, X represents the monthly advertising expenditure, 1.81 is the coefficient of X, and 5843 is a constant term.
The coefficient of X (1.81) indicates the relationship between the advertising expenditure and the predicted sales revenue. In this case, for each dollar spent on advertising (X), the predicted sales revenue (Y') increases by $1.81. Therefore, option c is the correct answer.
Option a is incorrect because the formula does not suggest that the company is wasting money on advertising. Option b is incorrect because 5843 is not the amount spent on advertising each month but rather a constant term in the formula. Option d is incorrect because the formula does not provide information about the specific effect of spending $5843 on advertising.
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How does a magazine sustain the alternating interests of readers who on account of life issues are moving on to the next segment outside of the topical limits of a publisher's title
Answers
One way a magazine can sustain reader interest which are alternating is to take advantage of outside partnership from other print medias.
What is Reader Interest?This refers to the level of interest a group of readers have for a particular written literature and whether they have low or high reception to the written work.
Hence, we can see that based on the fact that a magazine is periodical, it is possible to enter a partnership with another print media who has no such limits to a publisher's title to publish and hence, maintain reader's interest.
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_____ reduces the customer's need for software maintenance, operation, and suppor
software vendors
​Software as a Service
​request for quotation (RFQ)t.​
Answers
In 2018, Annie, an 80-year-old, is telling her granddaughter Mary about the good old days. Annie says that in 1934, you could buy a nice house for $15,000 and a jacket for $5. Mary says that in 2018 such a house costs $250,000 and such a jacket coss $60. The CP1 in 1934 was 15.2 and in 2018 it was 245.4. Which house has the lower real price? Which jacket has the lower real price? The house with the lower price is the and the jacket with the lower price is the A. $15,000 house in 1934: $60 jacket in 2018 B. $250,000 house in 2018, $60 jacket in 2018 c. $15,000 house in 1934; $5 jacket in 1934 D. $250,000 house in 2018;55 jacket in 1934
Answers
The house with the lower price is the $15,000 house in 1934, and the jacket with the lower price is the $60 jacket in 2018.
To determine which house and jacket have the lower real price, we need to adjust the prices for inflation using the Consumer Price Index (CPI). The CPI measures changes in the price level of a basket of goods and services over time.
First, let's calculate the inflation rate from 1934 to 2018 using the CPI values provided:
Inflation rate = (CP2 - CP1) / CP1
Inflation rate = (245.4 - 15.2) / 15.2
Inflation rate = 15.16
This means that prices increased by approximately 15.16 times from 1934 to 2018.
Now, let's calculate the real prices for the house and jacket in both years:
Real price = Nominal price / CPI
For the house:
Real price of the $15,000 house in 1934 = $15,000 / 15.2 = $986.84
Real price of the $250,000 house in 2018 = $250,000 / 245.4 = $1,018.80
Therefore, the house with the lower real price is the $15,000 house in 1934.
For the jacket:
Real price of the $5 jacket in 1934 = $5 / 15.2 = $0.33
Real price of the $60 jacket in 2018 = $60 / 245.4 = $0.24
Therefore, the jacket with the lower real price is the $60 jacket in 2018.
Based on these calculations, the correct answer is:
The house with the lower price is the $15,000 house in 1934, and the jacket with the lower price is the $60 jacket in 2018.
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Joey has $1,000.00 to invest. He loves tracking crude oil prices. If he were to invest, what type of investment strategy would he be investing in?
Answers
An investment strategy is a plan created to assist lone investors in achieving their monetary and investment objectives. Your specific circumstances, including your age, wealth, risk tolerance, and aspirations, will determine your investing plan.
What is an investment strategy example?Due to the possibility of generating a monthly rental income, rental properties are a typical form of income investment. You may then utilize those profits to increase the size of your investment portfolio. Dividend stocks, index funds, and specific bonds are some more typical income investment ideas.
Finding growth investments is a common beginner's tactic. This entails searching for up-and-coming businesses and buying a stock before the enterprise takes off. When using a growth investing plan, one of the most well-known instances is to look at Apple shareholders.
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A student in public administration wants to determine the mean amount members of city councils earn. The error in estimating the mean is to be less than $100 with a 99% level of confidence. The student found a report by the department of labor that estimated the standard deviation to be $1000. What is the required sample size?
Answers
Answer:
663.58
Explanation:
From the problem:
E, the maximum allowable error, is $100
The value of z for a 99 percent confidence level is 2.576
Estimate of standard deviation is $1,000.
n = [(z x s)/ E] ^ 2
n = [(2.576 x 1000) / 100}^2
= 25.76^2
=663.58
The protection afforded to inventors for new inventions is restricted to a given length of time; once this time has elapsed the invention is said to be:
a.)in the public domain B.)past due C.)infringed D.)within the statute of limitations
Answers
The protection afforded to inventors for new inventions is restricted to a given length of time; once this time has elapsed the invention is said to be "in the public domain." Option a is correct.
Once the protection period for an invention has expired, typically through the expiration of a patent, the invention enters the public domain. In the public domain, the invention is no longer protected by exclusive rights and is available for public use, reproduction, and distribution without any restrictions. This allows others to freely utilize the invention without seeking permission or facing legal consequences for infringement.
The public domain status signifies that the invention is now part of the collective knowledge and can be used by anyone for various purposes, including further innovation, research, and commercialization. It is important for inventors to be aware of the duration of intellectual property protection, such as patents, to understand when their inventions will enter the public domain and lose exclusivity.
Option a is correct.
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how do i make a sandwich if my teacher was 35 and her husband was 3 and i was 36
Answers
Answer:
WHATTTTTTT XD
Explanation:
Can i have a brainiest i kind of need them
Also you might need therapy
Answer:
first how in heck are you till in school and sec HOW IN THE HELL IS HE 3
explanation:
Seven years ago, Elise Damato started a business specializing in dog walking and dog grooming. After the first year, her pet food supplier started giving Elise a cash discount of 2.25% on any amount paid within 15 days of the invoice date. On October 25, Elise bought pet food costing $1,064. On November 8, Elise paid $800 on the purchase. Compute the unpaid balance. (This problem involves the partial payment of an invoice within the discount period.)
Answers
Answer:
The answer is $246
Explanation:
Solution
Recall that:
The cash discount from the supplier = 2.25%
Elise purchased pet food for an amount = $1064
On 8 November she paid for a purchase of = $800
The next step to take is to calculate for he unpaid balance as stated from the question given.
Now,
The total amount due = 1064
The amount paid within the period of credit =$800
The cash discount = 2.25%
The corresponding amount of payment before credit for cash discount is = (B/1-C)
Which is = 800/1-2.25%
800/0.977
=818.4
Therefore the unpaid balance is = $1064-818.4
= 245.6 or 246
The Economist article "What Pandemic Border Closures Say About Japan’s View of Outsiders" discusses the impact of Japan's strict Covid measures since 2020, especially with regard to foreigners entering the country. Although Japan has now relaxed some travel restrictions for foreigners, the unintentional consequences of such measures will adversely impact Japan for years to come. According to the article, why has Japan traditionally been hesitant in accepting foreigners into the country and why will foreigners be important for Japan’s future?
Answers
The article highlights Japan's historical hesitancy in accepting foreigners and discusses the reasons behind this cautious approach. Japan's cultural homogeneity, concerns about social cohesion, and past experiences with foreign invasions have shaped its traditional reluctance towards immigration.
Japan's hesitancy in accepting foreigners stems from various factors. Firstly, the country has a long history of cultural homogeneity and a strong sense of national identity. This has led to a preference for maintaining social cohesion and preserving traditional values, making it challenging for Japan to embrace a large-scale influx of foreign residents. Secondly, Japan's historical experiences, such as the forced opening of its borders in the 19th century and the negative impacts of World War II, have left a lasting impression on the nation's psyche. These events have fostered a cautious approach towards immigration and foreign involvement.
However, the article argues that Japan's future depends on the inclusion of foreigners. Japan faces significant demographic challenges, including an aging population and a declining birth rate, which have resulted in labor shortages and a shrinking workforce. To sustain economic growth and address these issues, Japan will need to attract foreign talent, expertise, and labor. Furthermore, foreigners can bring diverse perspectives, innovation, and international connections that are vital for Japan's competitiveness in the global economy.
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Can someone please help me!
Answers
Answer:
The awnser is the Nature of Business
Answer:
nature of business that's
how is market-to-book ratio measured? multiple choice question. market value per share/book value per share market value of bonds/book value of bonds market value of sales/book value of costs book value per share/market value per share
Answers
The market to book ratio is calculated by dividing the current closing price of the stock by the most current quarter's book value per share .
What is the market book value ratio?
By comparing a company's book value to its market value, the book-to-market ratio may be calculated.
When assets are subtracted from liabilities, the remaining amount is the book value. A company's market value is calculated by multiplying the market price of one of its shares by the total number of outstanding shares.
What is a formula example for market to book ratio?
To put it another way, it is the market capitalisation of a corporation at a particular moment.
As a result, it can be determined using the formula Market Capitalization = Price Per Share * Total Shares Outstanding. Total Shareholder Funds - Preferred Share Capital is how book value is calculated.
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Millie, age 80, is supported during the current year as follows: Percent of Support Weston (a son) 20% Faith (a daughter) 35% Jake (a cousin) 25% Brayden (unrelated close family friend) 20% During the year, Millie lives in an assisted living facility. Under a multiple support agreement, indicate which parties can qualify to claim Millie as a dependent. a.Weston, Faith, Jake, and Brayden. b.Weston and Faith. c.Faith, Jake, and Brayden. d.Faith.
Answers
The parties who may qualify to claim Millie as a dependent are Weston and Faith (option B)
A support agreement is a contract between one or more people who voluntarily agree to support other people (usually children or elderly parents).
In the case presented, the people who qualify are:
Weston and Faith (option B)These two people qualify because between them they give more than 50% of the support and are closely related to Millie, they are her children.
On the other hand, Jake and Brayden do not classify because they do not contribute equally or more than 50% of the support and one of them is not related to Millie.
According to the above, the correct answer is B, because it mentions the people who qualify to claim Millie as a dependent.
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Which statement is true?
online credit is more expensive than bank credit
online credit is less expensive than bank credit
online credit and bank credit are equally expensive
online credit is harder to obtain than bank credit
Answers
Answer:
online credit is less expensive than bank credit
Explanation:
Online lenders are likely to charge lower rates than banks due to the differences in operating expenses. Online lenders do not incur the cost of operating from a physical building, such as rent and maintenance. They do not have high employee cost as compared to banks. Due to these reasons, online lenders charge lower fees and lower interest rates.
Sometimes online loans appear expensive, but it's because they are unsecured loans. A close comparison between different types of loans will show online lenders offer cheaper loans.
In the United States, African Americans, Native Americans, and Asian Pacific Americans are considered the largest ______ minority groups.
Answers
In the United States, African Americans, Native Americans, and Asian Pacific Americans are considered the largest racial minority groups.
A minority group is a group of people who are less numerous than the major groups within those groupings in terms of their practices, color, religion, ethnicity, or other traits.
Racial minority groups are a group of people of a particular race who are underrepresented in comparison to a bigger group, the general public, etc.
However, the term "minority" in the 1990s typically refers to four significant racial and ethnic groups: African Americans, American Indians and Alaska Natives, Asians and Pacific Islanders, and Hispanics. In some states and regions, this change in America's racial and ethnic makeup is most obvious.
Because everyone has a unique perspective on everything, it is crucial to respect the opinions of all people, including those who do not belong to the majority, minority, or even just one single guy. Some people are upbeat, therefore depending on the situation, they may be in the majority or minority.
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Telmart, a retail chain, records high sales volume for most of its outlets. Some of its outlets that have low sales volume have conducted surveys for their consumers in order to understand the reasons behind this. The surveys reveal that the average customer in these outlets believes that price is an indicator of quality and thus, prefers higher priced brands over lower priced brands. The research conducted by telmart exemplifies:.
Answers
The research that Telmart did exemplifies what we know as Demand Analysis.
What is Demand Analysis?Refers to research that is done to see what influences customer demand. Is often done by companies to increase demand for their goods.In finding out why some outlets did not have high sales, Telmart was trying to find out what drove customer behavior so this is Demand Analysis.
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Vincent operates a scenic tour business in Boston. He has one bus which can fit 50 people per tour and each tour lasts 2 hours. His total cost of operating one tour is fixed at $450. Vincent’s cost is not reduced if he runs a tour with a partially full bus. While his cost is the same for all tours, Vincent uses a pricing practice called price discrimination and charges each passenger his/her willingness to pay: adults $18 per trip, children $10 per trip, and senior citizens $12 per trip. At those rates, on a typical day Vincent’s demand is:
Passenger Type
Willingness to Pay
Demand per day
Adults
$18
70
Children
$10
25
Senior Citizens
$12
55
Assume that Vincent’s customers are always available for the tour; therefore, he can fill his bus for each tour as long as there is sufficient total demand for the day.
What is Vincent’s cost of serving all passengers demanding a tour on a typical day?
What is Vincent’s profit on a typical day?
One of Vincent’s friends tells him he would be more profitable if he charged a single price of $18. Assuming no changes in consumer demand, what would Vincent’s profit be if he charged every customer $18? (3 points)
Answers
Answer:
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Explanation:
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Vincent’s cost of serving all passengers demanding a tour on a typical day is $1350. Vincent’s profit on a typical day is $820. Vincent’s profit will be increased he charged every customer $18.
What is price discrimination?A selling tactic known as price discrimination involves charging clients various rates for the same good or service depending on what the vendor believes they can persuade the customer to accept.
When a merchant uses pure price discrimination, they charge each consumer the highest price they will agree to.
The calculation of the profit of the Vincent is done as follows
1.Number of the tour operated by the Vincent on a typical day=
= Adult demand + children demand + senior citizens demand/ Bus capacity
= 70+25+55/50
= 150/50
= 3
Total cost of the tour = $450*3
= $1350
2. Total Revenue on a typical day = Adult demand * willingness to pay+ Children demand* willingness to pay + senior demand * willingness to pay
= 70* $18 + 25* $10+ 55 * $12
= $2170
Profit = total revenue - total cost
= $2170 - $ 1350
= $820
If he charged every customer $18 with every customer then his profit will be calculated as follows:-
Total Revenue on particular day = Adult demand * $18 + Children's demand * $18 + senior's demand * $18
= 70 *18+25*18+55*18
= $1260+$450+$990
= $ 2700
Profit = Total Revenue - Total cost
= $ 2700 - $ 1350
= $ 1350
Therefore, the profit charged on the price $18 is $1350 which is greater than the previous profit.
Learn more about Price determination here:
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