For a firm that sells a prestige product, the relationship between price and quantity demanded is a positive direct relationship.
Why is the relationship between demand and price of prestige products direct?The relationship between the demand and price of prestige products is direct because prestige products tend to sell better at high prices than at low prices.
And when the quantity demanded increases, the price tends to increase.
An example of a prestige product is an old car.
Thus, for a firm that sells a prestige product, the relationship between price and quantity demanded is a positive direct relationship.
Learn more about the demand for prestige products at https://brainly.com/question/6374886
A price-taking firm: ______________
a. cannot influence the price of the product it sells b. talks to rival firms to determine the best price for all of them to charge c. sets the product's price to whatever level the owner decides upon d. asks the government to set the price of its product
A price-taking firm is a type of firm that cannot influence the price of the product it sells.
What is a price taking firm?A price-taking firm is a firm that cannot set the price for its goods and services. An example of a price-taking firm is a perfect competiton. A price-taking firm exists because there are many sellers of identical goods in the industry.
For price-taking firms, prices are set by the forces of demand and suppply.
To learn more about perfect competition, please check: https://brainly.com/question/17110476s
To determine a product selling price based on the total cost method, management should include: Multiple Choice Total product and selling, general, and administrative costs plus a markup. Total selling, general, and administrative costs plus a markup. Total product costs plus a markup. Only a markup. Total product and selling, general, and administrative costs only.
If one wants to determine the selling price of a product using the total cost method, the management should use Total product costs plus a markup.
What is total cost method?When using the total cost method, the company takes into account the full cost of producing the good in question. This includes total product cost only.
A markup is then added to the total cost to find a suitable selling price that allows for a projected level of profit.
Find out more on the total cost method at https://brainly.com/question/6480601.
Explain why it is important that prices are flexible. Analyze if you were a manager of a store and how would you deal with a surplus and a shortage. Explain how the law of demand relates to a recent purchase that you have had to make.
Answer:
Price Flexibility is one of the most important practices in our economy to maintain the law of demand and supply. It is also very helpful in the price.
Explanation:
A physical count of merchandise inventory on November 30 reveals that there are 82 units on hand. Assuming that the specific identification method is used and that ending inventory consists of 25 units from each of the three purchases and 7 units from the November 1 inventory, cost of goods sold is
After computing the cost of inventory that was sold, The Cost of Goods sold is given as $1,334.30.
The calculations related to the exercise are as follows:From the information provided (see full question attached),
Inventory at hand as at November 1:
there are 29 Units of Inventory at the cost of $5.90 dollars each.Purchases:
118 units are purchased at $6.30 dollars each;59 units are purchased at $6.15 dollars each; and88 units are bought at $6.50 dollars each.If at the end of the period there are 25 units each form the purchases above and 7 from the existing inventory as at Nov. 1st, then the cost of goods sold is:
((29-7) X 5.9) +((118-25) x 6.3) + ((59-25) x 6.15) + ((88-25) x 6.5))
= $1,334.30
Learn more about Inventory at:
https://brainly.com/question/24868116
A strategic partnership with a supplier: _____________
a. Is a legal contract between a supplier and a buyer, binding them to certain financial obligations b. Is the ultimate object, or the end goal, that a company should have with every supplier c. Is a commitment over an extended period to work together to the mutual benefit of both parties
d. Is a significant benefit to the buyer, but may not be a significant benefit to the supplier
When suppliers are utilized more as “strategic partners” and simply suppliers of a product or service is for progressive purpose. Hence, it is the ultimate object, or the end goal, that a company should have with every supplier.
Strategic partnership with a supplierA strategic partnership program is an initiative that aims to transform the relationships of your most strategic suppliers into true strategic partners.
The company activates all of the resources that a supplier may have, including historical knowledge, experience and even data.
Therefore, the correct answer is option B.
learn more about Strategic partnership with a supplier: https://brainly.com/question/4467038
Identify the kind of sample that is described.
A restaurant manager asked every person in line at the restaurant about the new commercial jingle.
Answer:
9x-4=-18
Explanation:
do you know what this is because I have a state testa coming up and I been lacking in math class
You are headed off to college. Some close family members decide it would be a good idea to buy a house in the college town and then rent it out to students, with you also living there and actively managing it. Assuming you and your family buy it, what form of business would you select? and why?
The ideal type of business would be the sole proprietorship, as it is a structure that is easy to start and manage.
What is the sole proprietorship?It is a simpler business structure, which is managed by an individual, who has the responsibilities for the business, that is, in this configuration there is no legal distinction between the company and the owner.
Therefore, the sole proprietorship is less bureaucratic, being able to close the business at any time, or change type as the business grows and requires greater responsibility.
Find out more about sole proprietorship here:
https://brainly.com/question/4442710
Employees and customers are treated like a family at Rahal Realty. Fadil and Inas Rahal, the owners, work to encourage unity to increase their employees' job satisfaction and commitment. At their realty, the Rahals have built a(n) ________ culture.
The type of culture that Rahals built was clan culture, when the owners, work to encourage unity to increase their employees' job satisfaction and commitment.
What is clan culture?A clan culture can be regarded as a tribe-like type of corporate environment which believe in
commonality of goals and values.
Clan cultures usually appears as collaborative and the least competitive of the main corporate culture models.
Learn more about culture at;
https://brainly.com/question/25010777
John is a community association manager. which best describes his education
Answer:
Technician degree
Explanation:
To be a community association manager he has to have a technician degree.
Which of the following does NOT influence the effectiveness of a chemical sanitizer solution?
Concentration
Temperature
Cost
Contact time
The cost of a solution does not influence the effectiveness of a chemical sanitizer solution.
What is the chemical sanitizer solution?The effectiveness of the sanitizer means the ability of the solution to clean the surface applied to effectively.
Some factors that influence the effectiveness of a chemical sanitizer solution includes:
concentrationtemperaturecontact timewater hardnesspH etc.Therefore, the Option C is correct.
Read more about sanitizer solution
brainly.com/question/10557214
Jack Dossey wears socks of two colours - Yellow and Orange. He has altogether 20 yellow socks and 20 orange socks in a drawer. Supposing he has to take out the socks in the dark, how many must he take out to be sure that he has a matching pair?
George is going shopping for a new car to replace his old one. Which of these costs would be
relevant in deciding between cars:
O the annual cost of George's driver's license renewal
the fixed title fee for a new auto
o the value of his existing auto
O the cost to operate the new vehicles (e.g., miles per gallon for each car)
The cost that would relevant in the choice of a new car is the the cost to operate the new vehicles.
What cost would be relevant?The cost that would be relevant in the choice of a new car is the cost that is dependent on the type of car chosen. The cost to operate the new car would depend on the type of car chosen. If George buys a more fuel efficient car, the cost of running the car would be cheaper.
To learn more about cost, please check: https://brainly.com/question/27127934
As a team lead, Emilio has convened a group of five team members to solve an issue with the marketing campaign. This is an example of a(n)
Assuming Emilio has convened a group of five team members to solve an issue with the marketing campaign. This is an example of a(n): Leaderless Group Discussion.
What is Leaderless Group Discussion?
Leaderless Group Discussion can be defined as the way in which a group of people discuss and share opinion on important matters without a formal leadership.
Based on the given scenario Emilo is engaging in Leaderless Group Discussion due to the absence of a leader.
Inconclusion this is an example of a(n): Leaderless Group Discussion.
Learn more about Leaderless Group Discussion here:https://brainly.com/question/2290843
Employers pay ___ ___ ___ ___ (__) to the unemployment insurance system
Answer: employers: The UI program is financed by employers who pay unemployment taxes on up to $7,000 in wages paid to each worker. The actual tax rate varies for each employer, depending in part on the amount of UI benefits paid to former employees. Thus, the UI tax works much like any other insurance premium.
Explanation:
hope this helped ya :)
Supremewriters247.us is the only trusted American Writing Company when it comes to the writing of custom essays, dissertations, term papers, research papers, ...
Devon is accused of robbing a jewelry store and is summarily thrown in jail. Which law or principle of law will help Devon in this situation?
Answer:
Procedural Due Process
Explanation:
Which of the following education levels offer a shop class in industrial arts?
A: High school program
B: Associate program
C: Bachelor's program
D: Doctoral program
Answer:
B. Associate program
Explanation:
Correct me if I'm wrong
Associate program offers a shop class in industrial arts. Thus, option B is correct.
What is industrial Arts?An educational program called industrial arts emphasizes the creation of wooden or metal things utilizing a variety of hand, power, and machine tools. Commonly referred to as technology education, industrial arts. Small engine repair and car maintenance are possible, and technical drawing is typically covered in all programs' curricula.
The phrase "industrial arts" was first used in education in 1904 by Charles R. Richards of Teachers College, Columbia University in New York, who proposed it as a replacement for physical labor. Industrial arts lessons, also referred to as "shop class" in the US, introduce kids to the fundamentals of house maintenance, physical labor, and machine safety. The majority of industrial arts programs were developed in general rather than specific trade schools.
Learn more about industrial arts here:
https://brainly.com/question/30860509
#SPJ2
Define “supply” for commodity
Answer:
The supply of a commodity is the amount of the commodity which the sellers or producers are able and willing to offer for sale at a particular price, during a certain period of time.
Note: Hope it helped
A tall organizational structure is usually more responsive to customer demands.
How does the conceptual Framework explain the role of stewardship?
Answer:
The new Conceptual Framework emphasises that investors need information about both: • financial performance—income and expenses; and • financial position—assets, liabilities and equity. It also gives guidance on reporting financial performance.
Answer:
Providing information needed to assess management's stewardship is identified as an additional objective of financial reporting,
Explanation:
How does the Conceptual Framework explain the role of stewardship? A. Providing information needed to assess management's stewardship is identified as an additional objective of financial reporting, equal in prominence to providing financial information useful to users in making decisions relating to providing resources to the entity
i hope this helped you! good luck on your quiz or lesson!
Which of the following statements describes the most likely reason why
ethical employees are important for a company?
O A. It can show caring.
O B. It can show morality.
O C. It can feel good.
O D. It can save money
Answer:
D. they can save money this way.
how goal succession take place? explain the condition responsible for goal succession
the new or modified goals are incorporated or substituted for the existing one in such a manner that they do not change the spirit of the existing goals
The new goals are such that individuals or the organisation are willing to state publicly.
What operations management function is most important to complete prior to inventory management? Part 2
Answer:
Strategy. Planning, organizing, and strategizing the daily operations and routine is the primary function of operations management. A well-planned implemented strategy can help in meeting the deadlines and production goals of an organization
Explanation:
ur welcome
What are the impact of SMEDAN on entrepreneurship
The Consumer Price Index (CPI)
is the tool used to measure
inflation. It is calculated
through which of the following
methods?
A. Door-to-door surveys
B. Online Questionnare
C. Census
hurry!!!! (economics) This graph shows changes in GDP and the unemployment rate in the United States in recent years.
A graph titled Annual Change in U S Unemployment and G D P from 2005 to 2012 has year on the x-axis and percent of change on the y-axis, from negative 4 to 4 in increments of 2. Between 2008 and 2009 the G D P decreased by about 3 percent. Between 2008 and 2009, the unemployment rate increased about 1.5 percent. When unemployment was at the highest point, G D P was at the lowest point.
Which statement most accurately describes the trends shown on this graph?
When GDP falls, unemployment rises.
GDP and unemployment have little to do with each other.
When GDP rises, unemployment rises as well.
GDP and unemployment rise at times of world crises.
Answer:
A. When GDP falls, unemployment rises.
Explanation:
1. Consider the following information for a project to add a drive-thru window at Crestview
Bank.
Activity Activity Time (weeks) Immediate Predecessor(s)
A 5 -
B 2 -
C 6 -
D 2 A, B
E 7 B
F 3 D, C
G 9 E, C
H 11 F, G
a. Draw the network diagram for this project.
b. Specify the critical path.
c. Calculate the slack for activities A and D.
Based on the activity times, and the order of activities, the critical path is B ⇒ E ⇒ G ⇒ H.
The slack for Activity A is 8 weeks and the slack for Activity D is 8 weeks as well.
What is the critical path?First find all the possible paths:
A ⇒ D ⇒ F ⇒ H - 21 weeksB ⇒ D ⇒ F ⇒ H: 18 weeksB ⇒ E ⇒ G ⇒ H: 29 weeksC ⇒ G ⇒ H: 26 weeksC ⇒ F ⇒ H: 20 weeksThe critical path takes the longest time so will be B ⇒ E ⇒ G ⇒ H: 29 weeks.
What is the slack for Activity A?This can be found as:
= Latest finish for A - Earliest finish for A
Looking at the network, the earliest finish for A is 5 and the latest finish is 13.
Slack is:
= 13 - 5
= 8 weeks.
What is the slack for activity D?Earliest finish for D is 7 and lastest finish is 15.
Slack is:
= 15 - 7
= 8 weeks.
Find out more on the critical path at https://brainly.com/question/8147877.
____ records include personal information, employment history, performance evaluations, compensation records, and other information needed by the company
Answer:
Personelle I think
Explanation:
Contract buying a. A practice where big businesses would put a contract out on labor union leaders b. A practice where large businesses would buy out their smaller competitors c. A practice that exploited some white families' desires to buy homes in integrated neighborhoods d. A practice that exploited black families' inability to obtain regular home mortgages
It should be noyed that contract buying a practice where large businesses would buy out their smaller competitors.
What is Contract buying?Contract buying can be regarded as a practice whereby people with big business put a huge amount on an asset and complete it installmentally.
It is a way big business buy out their smaller competitors.
Learn more about Contract buying at:
https://brainly.com/question/25785890
To pursuer a career in business information management you need a degree or certification in
Answer:
business administration or business information management
Explanation: