The negative relationship between prices and quantity demanded happens because of ______ Group of answer choices consumers acting rationally supply costs market equilibrium the downward sloping demand curve
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The negative relationship between prices and quantity demanded happens because of ______
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- When priced at $10, Jasmine sells five packages of her home-made Mediterranean flat-bread per day. When she raised her price to $15, she still sold five packages per day. Based on this information, the demand for her flat-bread is A) price inelastic. B) perfectly price inelastic. C) unit price elastic. D) perfectly price elastic3. Market refers to the whole area of operation of demand and supply. A.True B. FalseCompany X produces a product, GlueX3, that Company X sales for $5. An opportunity presents itself to reallocate its manufacturing facility and related resources to produce Epoxy10. It believes it can sell Epoxy10 for $8. Explain how this switch creates “value”. Be sure to include for whom.
- A4) FinanceGive the five steps of the purchase decision process in the correct order.For effective segmentation of market demand, the basis for putting each customer into a given price segment requires criteria that are _____ and _____. verifiable; at each consumer's discretion easy to check; hard to change consistent across consumers; hard-to-change based on preferences; easy to changeAt a recent manufacturing workshop, XYZ, Incorporated explained that demand for disposable masks increase rapidly in March 2020 when quarantine mandates first took effect. At the time, retailers could only place a single order to cover demands through the end of the summer. A certain retailer purchased disposal masks from a supplier at a cost of $20 per unit and sold them for $30 per unit. By the end of summer, demand for masks subsided considerably and all masks that weren't sold during the summer could be sold at a discounted price of $18 per unit. The retailer estimated that demand between March and August would be Normally distributed with mu = 10,000 and sigma = 1525 units With, supply chains becoming more stable since March 2020, the retailer is currently in the process of establishing a contract with a disposable mask supplier. The supplier has agreed to sell masks to the retailer for $18 per unit and will make deliveries any time the supplier places an order for a cost of $100…
- 1. Explain the variables that should be reflected in a variable-fixed breakdown of a selling expense budget. 2. Explain the use of a distribution cost analysis in a manufacturing environment.For a consumer with a well-behaved preference structure for his consumption bundle has two goods, A and B. assume that commodity A is normal and commodity B is inferior. By keeping commodity A on the x-axis and commodity B on the y-axis you are required to show the price decomposition for commodity B when $PB increases exogenously relative to $PA. Please answer the question by using well-labeled diagramsA firm is faced with the attractive situation in which it canobtain immediate delivery of an item it stocks for retailsale. The firm has therefore not bothered to order the item in any systematic way. However, recently profits have beensqueezed due to increasing competitive pressures, and thefirm has retained a management consultant to study itsinventory management. The consultant has determined thatthe various costs associated with making an order for theitem stocked are approximately $70 per order. She has alsodetermined that the costs of carrying the item in inventoryamount to approximately $27 per unit per year (primarilydirect storage costs and forgone profit on investment ininventory). Demand for the item is reasonably constantover time, and the forecast is for 16,500 units per year.When an order is placed for the item, the entire order isimmediately delivered to the firm by the supplier. The firm operates 6 days a week plus a few Sundays, or approxi-mately 320 days per year.…
- To reduce and dampen information distortion, what should firms do? (select all that apply) Group of answer choices Reduced fixed costs related to ordering and transportation. Reduced replenishment lead time to decrease the uncertainty of demand during lead time. Encourage full TL transportation Reduce promotion to stabilize pricing Rationing based on proportion to the orders placed by buyersPlease do not give solution in image formate thanku. The local supermarket buys lettuce each day to ensure really fresh produce. Each morning any lettuce that is left from the previous day is sold to a dealer that resells it to farmers who use it to feed their animals. This week the supermarket can buy fresh lettuce for $4.00 a box. The lettuce is sold for $10.00 a box and the dealer that sells old lettuce is willing to pay $1.50 a box. Past history says that tomorrow's demand for lettuce averages 250 boxes with a standard deviation of 24 boxes. How many boxes of lettuce should the supermarket purchase tomorrow? (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Do not round intermediate calculations. Round your answer to the nearest whole number.)For products with slow-moving demand—for example, one unit per week—the Poissondistribution is likely to be a better model for demand than the normal distributionbecause: (choose the best answer) a. the Poisson’s standard deviation is equal to the square root of its mean.b. the normal distribution does not allow the freedom to choose any standard deviationfor any given mean.c. the Poisson distribution is a continuous distribution.d. only the standard normal distribution would apply in this setting.e. the Poisson distribution does not assign any probability to negative outcomes.