week‚ but when the bookstore marks them down to $10 it finds that it can sell 50 t-shirts per week. What is the price elasticity of demand for the logo t-shirts? Is the demand elastic or inelastic? Answer Ed = -1.675 (elastic) 2. Check out the following video (http://www.youtube.com/watch?v=ncZkrO06le8). Do the early shoppers appear to have elastic or inelastic demand on Black Friday? Answer Elastic. Very responsive to price changes. 3. In the accompanying table‚ assume that
Premium Supply and demand Price elasticity of demand Elasticity
Price Elasticity of Supply * Price Elasticity of Supply: * The degree of price elasticity of supply depends on how easily - and therefore quickly - producers can shift resources between alternative uses. Unlike PED‚ there is no Total Revenue Test for Price Elasticity of Supply. * Because there is a direct relationship between Price & Total revenue‚ they always move together. DETERMINANT OF PRICE ELASTICITY OF SUPPLY: TIME! THREE PERIODS: Market period--> short run --> long
Premium Supply and demand Consumer theory Elasticity
1. Introduction: Environmental factors got important effects on company’s global business platform. As areas like political‚ social‚ economical‚ environmental and economical are sensitive and critical that’s way‚ those must be addressed appropriately for company’s success. On the other hand strategy is really important for company because it’s a direction and scope of company over the long time. McDonald’s restaurant established in Illinois in 1955‚ more than 30‚000 restaurants in 120 countries
Premium Strategic management Burger King
An Analysis of McDonald ’s Table of Contents Executive Summary 3 I. Background and History of McDonald ’s 4 II. Analysis of McDonald ’s 5 The industry environmental Markets 5 External Environmental 7 SWOT Analysis 10 Company performance over time– financial outlook – stock analysis 12 Strategy/Five Forces Framework 15 III. Issues involving McDonald ’s 20 Advertisement
Premium Fast food Fast food restaurant
Examine the importance of the elasticity of demand in a government decision to impose a specific tax on the buyers of cigarettes Price Elasticity of Demand is the responsiveness of a change in the quantity demanded of a certain good to a change in its price. The formula for Price Elasticity of Demand is the percentage change in the quantity demanded of a certain good divided by the percentage change in the price of that certain good (Alain Anderton‚ p.55). A specific tax is a tax that’s amount
Premium Economics Tax Supply and demand
BKristen Gershkoff Mr. Zabel Ecology 1 October 2012 How Abiotic Factors Affect the Biota The variation of abiotic factors in both the beach and the salt pond greatly affect the biota in those areas. At the beach there was a rocky landscape that rounded the water‚ while at the salt pond‚ there was more of a wet grassy area allowing different life forms or biota to thrive in each. Also‚ physical factors such as temperature‚ salinity‚ or dissolved oxygen levels allow for different life forms to
Premium Oxygen Water Carbon dioxide
P2 – Factors that affect development. There are five main factors that affect a person’s development‚ they are: Genetics factors. Environmental factors. Socio-Economical factors. Life style factors. Biological factors. Genetic factors Each cell in the body contains 23 pairs of chromosomes‚ half from your mother‚ and half from your father. The chromosomes contain the genes you inherit from your parents. For example‚ for the gene that determines eye colour you may inherit a brown gene and a blue gene
Premium Family Genetics Mother
Lesson Plan Title: Factors that Affect Rate of Dissolving and Solubility Overview‚ Expectations and Rationale 1. Big Ideas: • Properties of solutions can be described qualitatively and quantitatively‚ and can be predicted 2. Ministry Expectations: Scientific Investigation Skills and Career Exploration A1.1 - formulate relevant scientific questions about observed relationships‚ ideas‚ problems‚ or issues‚ make informed predictions‚ and/or formulate educated hypotheses to focus inquiries
Premium Solubility Water Scientific method
Factors that can affect profilers: 1. Media. There are a lot of movies and TV series that has the portrayal of Criminal Profiling as their main subject to entertain the viewers. It is interesting to note that all of these popular portrayals of profiling are somewhat inaccurate because they suggest that profiling is a magical skill somewhat analogous to a precognitive psychic ability thus‚ the audience perceives it to be the case. Media is the downfall of profiling as well as the success.
Premium Racial profiling Crime Offender profiling
what would you propose as the most important factors that influence enrollment growth? Based on my experiences in working with private‚ Christian and independent schools throughout the country‚ I believe that there are multiple factors that contribute to enrollment growth and decline at a school. Let me highlight some of these factors for you: Leadership – The vision‚ drive and personality of the leadership (primarily the head of school) will affect the enrollment. In a previous blog post I discuss
Premium Teacher Independent school Public school