This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose we estimate that the demand elasticity for fine leather jackets is -.7 at their current ... (Read 97 times)

Kikoku

  • Hero Member
  • *****
  • Posts: 540
on: Jul 1, 2018
Suppose we estimate that the demand elasticity for fine leather jackets is -.7 at their current prices. Then we know that:
 a. a 1 increase in price reduces quantity sold by .7.
  b. no one wants to buy leather jackets.
  c. demand for leather jackets is elastic.
  d. a cut in the prices will increase total revenue.
  e. leather jackets are luxury items.

Question 2

Browsing on the Job The Dunder-Miflin Paper Company has been suffering an even greater spate of shirking by the accounting staff ever since its employees got access to the Internet on their desktop computers. Why did this not affect the sales staff as much?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

elyse44

  • Sr. Member
  • ****
  • Posts: 319
Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

The accountants are very likely salaried employees whose compensation does not depend on how much effort they exert. In contrast, the sales staff is likely paid on commission which makes goofing off on the Internet will come at the expense of more sales and will therefore reduce their income.


Kikoku

  • Member
  • Posts: 540
Reply 2 on: Jul 1, 2018
Wow, this really help

isabelt_18

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Change in Drawing Abilities from Early to Middle Childhood Drawings become more realistic as fine m Change in Drawing Abilities from Early to Middle Childhood Drawings become more realistic as fine m
Co-current flow in a concentric tube heat exchanger Co-current flow in a concentric tube heat exchanger
Coolant circulates through the water jackets in the engine block and cylinder head. Coolant circulates through the water jackets in the engine block and cylinder head.
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
What is the current flowing through the resistor? What is the current flowing through the resistor?
Chilling Effect of a Cold Current Chilling Effect of a Cold Current
Video: Protein digestion - stomach & small intestine

For a complete list of videos, visit our video library