If the University Chamber Music Society decides to raise ticket prices to provide more funds to finance concerts, the Society is assuming that the demand for tickets is

Answers

Answer 1

If the University Chamber Music Society decides to raise ticket prices to provide more funds to finance concerts, the Society is assuming that the demand for tickets is inelastic.

What is price elasticity of demand?

Price elasticity of demand is the degree of change in the quantity demanded of a commodity in response to a change in its price. It is calculated as the percentage change in quantity demanded divided by the percentage change in price. Price Elasticity of Demand can either be elastic or inelastic.

Elastic demand occurs when a percentage increase in the price of a product results in a higher percentage decrease in the quantity demanded of that product. Therefore, an increase in price reduces the demand for the product. Elastic demand can occur for luxury goods, substitute products, or goods that are more expensive than a consumer’s budget. Example: cars . Inelastic demand occurs when a percentage increase in the price of a product results in a lower percentage decrease in the quantity demanded of that product.

Therefore, an increase in price does not affect the demand for the product much. Inelastic demand can occur for necessities, essential goods or goods that have no substitute.Example: medicines.

Since the University Chamber Music Society has raised the price of tickets to finance concerts, the Society is assuming that the demand for tickets is inelastic, meaning that people are willing to pay the higher price for the tickets to watch the concerts even after the price increase.

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Related Questions

phase 1 of the project has a labor cost of $2750000 per year paid at the end of each year. what is the present worth of the labor cost of phase 1 (evaluated at the beginning of the first year)? note that phase 1 is 3 years.

Answers

We can accurately compare the costs and benefits of different projects and make informed decisions about which projects to pursue.

To calculate the present worth of the labor cost for phase 1, we need to consider the time value of money. The present worth of the labor cost is the amount of money needed today to pay for the labor cost of phase 1 over the next three years. We can use a present worth formula to calculate this amount.

Assuming an interest rate of 5%, the present worth of the labor cost of phase 1 would be $7,730,125. This means that if we invest $7,730,125 today at an interest rate of 5%, we will have enough money to pay for the labor cost of phase 1 over the next three years.

It is important to consider the time value of money when evaluating the present worth of a project's costs or benefits.

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Why should business writers avoid using buzzwords? (Choose every correct answer. ) Multiple select question. They have become trite through overuse. They can distract or annoy readers. They make your writing less engaging. They tend to make sentence and paragraph too long

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It's important for business writers avoid using buzzwords because:

They have become trite through overuse. They can distract or annoy readers. They make your writing less engaging.

Who is a business writer?

A business writer simply means a individual who writes for a business. The writer states the products and goals of the organization.

In this case, buzzwords have become trite through overuse and can distract or annoy readers.

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Create an Income Statement for the month ended November 30, 2020 for Riley Repair Shop:

Repairs Revenue is $9,900
Installation Fees is $1,600
Salaries Expense is $2,600
Rent Expense is $2,000
Advertising Expense is $850
Supplies Expense is $185
Utilities Expense is $235
Insurance Expense is $150
Delivery Expense is $770

Create an Income Statement for the month ended November 30, 2020 for Riley Repair Shop:Repairs Revenue

Answers

The Net income from the Income Statement of Riley Repair Shop equals $4,710.

What is the Income statement?

Revenue:

Repairs Revenue = $9,900

Installation Fees = $1,600

Total                                                                    $11,500

Salaries Expense =     $2,600

Rent Expense =           $2,000

Advertising Expense   $850

Supplies Expense        $185

Utilities Expense          $235

Insurance Expense      $150

Delivery Expense         $770

Total                                                                     $6,790

Net Income                                                         $4,710

Therefore, the Net income from the Income Statement of Riley Repair Shop equals $4,710.

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Which is an example of a small business showing social responsibility to individuals within the company?
A. starting an office recycling program
B. developing sustainable business practice
C. donating money to local organizations
D. allowing employees to work from home

Answers

Starting an office recycling program, developing sustainable business practice and donating money to local organizations are examples of a small business showing social responsibility to individuals within the company.

Company have a social responsibility to the communities in which they operate. This includes ensuring that they are good corporate citizens, providing support for local causes and charities, and protecting the environment.

Sustainable business is a term that is often used to describe businesses that are environmentally friendly or that have a positive social impact.

Hence, the correct options are "A, B & C".

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he concept of ______ is probably the best single measure of an industry's impact.A. total outputB. total spendingC. aggregate market value of firms in industryD. value added

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The concept of value added is probably the best single measure of an industry's impact. Therefore option D is correct.

What is Industry?

An industry is a collection of businesses that are connected by their main lines of activity. There are several categories of industries in contemporary economies. Sectors are often used to combine together bigger groups of industry classifications.

Typically, a company's major income sources determine what industry it belongs to. For instance, even if a carmaker may have a financing segment that contributes 10% to the company's overall earnings, most categorization systems would place the business in the automaker category.

Industries are divisions of related enterprises based on the main product produced or sold. By doing this, industry groupings are successfully formed, which may later be utilized to separate enterprises from those that take part in other activities.

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what is the purpose of creating a prototype?​

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Answer:

Prototypes provide a way to see how a possible product, idea, design, etc., would function in natural environments (not in the lab/workshop), but in the real world. They also can let designers, and those building it see if there are anything that needs to be changed or altered.

what important technology has done the most

Answers

The answer is Wireless networks

Liabilities are economic resources that are expected to benefit the business in the future.
a. true
b. false

Answers

The given statement exists as False. Liabilities are financial resources that the company anticipates using in the future for its advantage.

Why are liabilities important to a business?

Liabilities are financial resources that the company anticipates using in the future for its advantage.

An essential component of supply and demand in the economy is liabilities. Consumers and producers enter into a responsibility agreement for payment of the products. As a result, there is an open flow of funds and an ongoing cycle of income.

If liabilities become unmanageable, it can be necessary to sell assets to cover the debt. This could lower the company's worth (the equity share of the owners). Contrarily, debt (a liability) can be utilized to acquire new assets that raise owners' equity stakes by generating revenue.

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the market value of an item is: multiple choice question. the cash value you'd get if you sold it. its appraised value. the amount you paid it. the amount recorded in the balance sheet.

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The amount of money you'd receive if you sold it. Option is the required response to the question posed (A).

What Is Market Value?

The market value, also known as the "open market valuation" or OMV, is the price at which an asset would trade on the market place or the appraisal that the financial industry places on a certain equity or business.

A publicly listed company's market capitalization, which is determined by dividing the number of shares outstanding by the current share price, is also sometimes referred to as market value. Market values are dynamic by nature because they depend on a range of factors, such as the actual working environment, the overall condition of the economy, as well as the dynamic of supply and demand.

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Which type of system would you find citizens paying higher taxes in order to have the Government provide some benefits for society such as healthcare, job training, and welfare programs

Answers

Answer:

ghihgihihgiogiog

Explanation:

Matthew was reviewing the ingredient list of a food product at the grocery store. He wants to avoid consuming non-nutritive sweeteners. Which ingredients are non-nutritive sweeteners in the product?
INGREDIENTS: BREWED COFFEE (WATER, COFFEE), REDUCED FAT MILK, SKIM MILK, MILK PROTEIN CONCENTRATE, SUGAR, SUCRALOSE, CALCIUM CASEINATE, ROOT FIBER, NATURAL FLAVORS, CARRAGEENAN, MONK FRUIT EXTRACT, ASCORBIC ACID.
Carrageenan
Sugar
Calcium Caseinate
Ascorbic Acid
Sucralose
Monk Fruit Extract

Answers

The following ingredients in the product are non-nutritive sweeteners: Sucralose, Monk Fruit Extract. Non-nutritive sweeteners are ingredients that are used to add sweetness to a product without adding any calories or nutrients. These ingredients are often used in "diet" or "low calorie" products as a way to add flavor without adding extra calories.

In the ingredient list provided, Sucralose and Monk Fruit Extract are the only two non-nutritive sweeteners. The other ingredients, such as Sugar, Carrageenan, Calcium Caseinate, and Ascorbic Acid, are all nutritive ingredients that provide calories and nutrients to the product.

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Who is Patrick Jorgenson? What does he do for a living?

Answers

Answer:

I think you mean Patrick Jørgensen

Explanation:

He is a musical artist and if you don't mean Patrick Jørgensen I'm sorry

What types of laws prevent advertisers from exaggerating the effectiveness of their products and services?

Truth in advertising laws

Fair trade laws

Market equality laws

Honesty in marketing laws

Answers

Honestly in markering laws.

Answer:

honesty

Explanation:

Which of the following is NOT one of the five basic functions of an
accounting department?
A. Sales
B. Accounts receivable
C. Financial controls
D. Financial reporting

Answers

Sales is NOT one of the five basic functions of an  accounting department

What is accounting department?

The accounting department is responsible for recording and reporting the cash flows, both in and out, of a company.  It is part of the corporate overhead group of an organization.

An accounting department provides accounting services and manages the finances of a company.

There are five basic roles or functions within the accounting department:

Accounts receivable Accounts payable Payroll Financial controls Financial reporting

Therefore, sales is not one of the basic functions of an accounting department.

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2x +3=X -1 PLEASE ANSWER PLEASE​

Answers

Answer:

-4

Explanation:

2x+3=x-1

=>2x-x=-1-3

=>x=-4

Answer:

x = -4

Explanation:

2x+3 = x-1

-x         -x    subtract x from both sides to cancel out the positive x

x+3 = -1

 -3     -3      subtract 3 from both sides to cancel out the positive 3

x = -4           this is the simplified equation

:) ur welcome

what are the ways of receiving employment related information?​

Answers

Answer:

just do well on software and follow me for updates

Client receiving mental health services and clintincians

Use the graph to answer the question that follows.
Which statement describes the shift from D1 to D2?

Demand for the product increased.
Less of the product is being produced.
Demand for the product decreased.
More of the product is being produced.

Use the graph to answer the question that follows.Which statement describes the shift from D1 to D2?

Answers

The statement that describes the shift from D1 to D2 is the demand for the product increased.

What does the shift from D1 to D2 signify?

The graph represented in the image is that of a demand curve. A demand curve is a curve that shows the relationship between price and quantity demanded.

The demand curve is negatively sloped because the higher the price, the lower the quantity demanded. This is in line with the law of demand.

When the demand curve shifts to the right, it indicates an increase in demand. When the demand curve shifts to the left, it indicates a decrease in demand.

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Answer:

Demand for the product increased!

Explanation:

option A

Why retained earnings are debited?

Answers

Retained earnings are debited because they represent an increase in a company's equity and are used to fund future operations or expansion.

Retained earnings are the portion of a company's net income that is kept by the company instead of being paid out as dividends to shareholders. When a company retains its earnings, it can use them for various purposes such as reinvesting in the business, paying off debt, or acquiring other companies.

Retained earnings are recorded on a company's balance sheet as a component of shareholders' equity. When the company chooses to retain earnings, it is debiting its retained earnings account on the balance sheet.

There are several reasons why retained earnings are debited.

Retained earnings represent an increase in the company's equity. When a company retains earnings instead of paying them out as dividends, it is essentially investing in itself, which can lead to long-term growth and increased profitability. By debiting retained earnings, the company is reflecting this increase in equity on its balance sheet.Retained earnings are debited is that they are used to fund future operations or expansion. When a company retains earnings, it is essentially saving money to use for future growth or investment opportunities. By debiting retained earnings, the company is reflecting this decision to save money for future use on its balance sheet.

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What is NOT one of the main components of money management?
A.financial records
B.personal financial statements
C.tracking interest rates
D.budgeting

Answers

What is not one of the main components of money management is tracking interest rates. Money management is a strategy to make money work by tracking expenses and financial factors.

The components of money management are:

Financial recordsPersonal financial statementsBudget

Through these three components, a person is able to analyze, manage, control and review their finances to keep their inflows and outflows, investments and financial needs under control.

It is therefore essential for an individual to learn more about money management, to avoid debt, undue expenses and losses arising from mismanagement of their personal finances.

The correct answer is letter C.

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Answer:

C because you need to know all the financial records , personal statements and how to budget .

Explanation:

Reasons a business might fail are
proper management
extra money
competition
O good location

Answers

It might fail because of competition.
It is C. Have a nice day!!!

Where is the heat that the Cooling System is reducing generated from ?

Answers

A cooling system is used because the internal combustion engine produces very high heat.

Cooling circulation determines the life of the engine and its components. In a car engine, the cooling process is either water or air, but either process works. Although lubricating oil also helps cool engine parts to some extent.

Cars have changed a lot in the last few years, but engine cooling systems haven't changed much. Well, the latest designs are more reliable and efficient when cycling the engine. This design is highly efficient and keeps the engine at a constant temperature. Cooling remains constant even when the outside temperature is 110 degrees Fahrenheit, or 10 degrees below zero. Fuel consumption may worsen and emissions may increase.

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Anybody else have a baby class in their school?

Answers

Answer:

no my school is boring hehehhe

Select the correct answer from each drop-down menu. Which stage of the selling process deals with the actual point of sale where the customer agrees to buy? which stage relates to the post-sale interaction with the customer? the stage relates to the point where the customer actually agrees to buy. The stage relates to the post-sale interaction with the customer.

Answers

The closing stage relates to the point where the customer actually agrees to buy. The follow-up stage relates to the post-sale interaction with the customer.

The closing stage refers to the moment in the sales process where the buyer really gives their consent to purchase. The interaction with the client that takes place after the sale constitutes the follow-ups stage of the process.

As a buyer or seller of real estate, you should be aware that the closing stage refers to the actual point of sale, which is when the client agrees to purchase the property. At this point, all of the arrangements have been finalised, and the buyer is now prepared to purchase the property.

You should also be aware that the stage that is associated with the engagement that takes place after the transaction with the consumer is the follow-ups stage. During the follow-ups, all of the tasks and procedures that are supposed to be finished following the closing stage are actually completed. And if you desire a career in real estate, you should commit these to memory for the rest of your life if you want to succeed.

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what is a common issue with social media marketing plans

Answers

A common issue with social media marketing plans is the lack of clear objectives and measurable goals.

Many businesses jump into social media without a well-defined strategy, resulting in ineffective or haphazard efforts. Without specific goals in place, it becomes difficult to measure the success or failure of social media marketing initiatives.

Another issue is the challenge of generating meaningful engagement and building a genuine connection with the target audience. Social media platforms are saturated with content, making it increasingly challenging for businesses to stand out and capture the attention of their desired audience. Ineffective content strategies, lack of audience understanding, or failure to deliver relevant and valuable content can lead to poor engagement and limited results.

Furthermore, maintaining consistent and active social media presence can be demanding and time-consuming. Many businesses struggle to consistently produce and publish high-quality content, engage with their audience, and respond to inquiries or comments in a timely manner. Without dedicated resources or a well-defined workflow, social media efforts may become inconsistent or neglected.

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who is dixie damelio,noah beck and cole sprouse

Answers

Answer:

im pretty sure they are tiktokers if thats what youre asking?

Explanation:

I don't know

Answer dixie damelio is an American social media personality known for her videos on the social media platform TikTok. noah beck Before moving to LA to pursue TikTok, Noah played for the University of Portland's soccer team, the Portland Pilots, last year as a freshman. cole sprouse  is an American actor, known for his role as Cody Martin on the Disney Channel series The Suite Life of Zack & Cody and its spinoff The Suite Life on Deck and from the show called river dale is really good show

twitter provides a platform where businesses can create advertising campaigns

Answers

Answer:

ok?

Explanation:

Umm okay…well do you have any other question??

Earning a degree can be expensive but which example shows why it might be worth it?
(financing higher education)

Answers

Answer:

Earning a degree can be expensive but it can almost guarantee you great job opportunities and great job opportunities can provide great income, and other benefits.

Explanation:

How is a credit union different from a bank?
O Acredit union offers services to companies instead of individuals.
A credit union only offers credit, it does not store money.
Acredit union is usually larger than a bank.
O A credit union is owned by its customers.

Answers

Answer:

a credit union is owned by its costumers (D)

Explanation:

i took the assignment!!

One of the following is against the business ethics. Find it.
a) Charging fair price for the product.
b) Giving wages to employees if by not considering their work load. c) Using correct measurement for products
d) Giving chances to hear the problems of employees.

Answers

b) giving wages to employees if by not considering their workload

Enter text- Apply A text Effect

Answers

This is not the app for this !!
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