As a business owner, you are always concerned about how much of your good or service is demanded. if there is an increase in your pro- duction costs, what options do you have to keep your product in demand?

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Answer 1
Depending on whether the good is elastic or inelastic, there is one choice for each situation. If the good is elastic, the producer can raise the price of the good to compensate for the rise in production costs, but this will lower the overall revenue received because demand will likely fall to make up for this increase. If the good is inelastic, the price can be raised again, but this time it will increase the overall revenue because demand will stay the same (due to the good being inelastic and more of a necessity than a luxury).

Related Questions

Ambiguities in an insurance policy are always resolved in favor of the

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Ambiguities in an insurance policy are usually resolved in favor of the insured. Insurance companies draft policy documents and contracts while persons purchasing insurance accept these terms. Therefore it is incumbent on the insurance company to clearly state coverage and limitations. If some claim occurs that is not specifically mentioned in insurance documents, the insured individual is covered.

When managers organize divisions according to the types of customer to whom they market their products, they are focusing on a product structure?

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When managers organize divisions according to the types of customer to whom they market their products, they are focusing on the product structure: market structure.
The market structure is an organizational structure in which each kind of customer is served by a self-contained structure.

The republican party has used both the _____ and the eagle to identify itself.

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The Republican Party currently uses the Elephant as a symbol to represent itself. This started in the 1870s when the political cartoonist Thomas Nast used it opposite a Donkey for the Democratic Party.

The _____ takes into consideration both the direct and indirect global warming effects of refrigerants.

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The total equivalent warming impact (TEWI) takes into consideration both the direct and indirect global warming effects of refrigerants. In addition to the direct impact of the refrigerant (which is conveniently estimated by GWP), any system or process, which requires energy input, indirectly affects the environment. This impact is originated from CO2 emissions from the energy production processes. TEWI can be calculated using the equation below: TEWI = direct emissions + indirect emissions = (GWP×L×N)+(Ea×β×n), where L – annual leakage rate in the system, kg (3% of refrigerant charge annually), N – life of the system, years (15 years), n – system running time, years (based on weather data, 4910 hours), Ea – energy consumption, kWh per year (modelled for each refrigerant), β – carbon dioxide emission factor, CO2-eq. emissions per kWh (165 g CO2/kWh).

Are the people involved in or affected by project activities and include the project sponsor, project team, support staff, customers, users, suppliers, and even project opponents.

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The people who are affected or are involved the activities of the business are termed as stakeholders. A stakeholder is someone who has any kind of interest or his interests are getting affected by the decisions or the activities of the business. The stakeholders can be debtors, creditors, customers, Government, employees, managers, project managers etc.

Travis invests $10,000 today into a retirement account. he expects to earn 8 percent, compounded annually, on his money for the next 26 years. after that, he wants to be more conservative, so only expects to earn 5 percent, compounded annually. how much money will he have in his account when he retires 38 years from now, assuming this is the only deposit he makes into the account?

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First calculate the future value at the end of 26 years at 8%
The formula is
A=p (1+r)^t
A future value?
P present value 10000
R interest rate 0.08
T time 26 years
A=10,000×(1+0.08)^(26)
A=73,963.532119168

After that use the formula again to calculate the future value for the rest years at 5%
A=73,963.532119168×(1+0.05)^(38−26)
A=132,827.88....answer

Hope it helps!

What was Hamilton suggesting of entrepreneurs in his "Report on Manufactures" in 1791? To increase economic productivity by seeking trade agreements. To guard trade secrets and other intellectual property from competitors. To seek to cut costs by lowering wages. To increase economic output by taking ideas from more developed manufacturers

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i believe the answer is the last option.

The answer is: To increase economic output by taking ideas from more developed manufacturers

At that time period, companies in united states still haven't fully embrace the development that brought in by the industrial revolution.

Hamilton created the reports to suggest the entrepreneur to start learning from the companies that had already implemented the latest technologies in their manufacturing so they can increase their production.

Define osmosis and predict the direction of water movement based on differences in solute concentrations.

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Osmosis is the process by which liquids move through a semi permeable membrane from a lower concentration gradient to an higher one.
During the process of osmosis, water for instance, will move through a semi permeable membrane from a region of lower solute concentration to the region of higher solute concentration. In osmosis, water usually leave the region of low salt solute and move instead to the region of more concentrated solute. The liquid will move until the salt solute concentration is the same at either side of the membrane.

Which is most likely to result from a layoff of factory workers in a town?

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The most likely result from a layoff of factory workers in a town is that the unemployment rate will rise, at least temporarily. This is assuming the factory is in the US and all workers are full time. Other government services might also see an increase, such as food stamps, job training services, etc.

Field notes represent the information which forms the content of the

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Field notes represent the information which forms the content of the incident report.
Some true concerning field notes are;

- They are more solid than an officers memory 
- Detailed field notes may decrease the need to recontact the gatherings included 
- Field notes can be utilized to protect the uprightness of the episode report 
- Primary data source for setting up the occurrence offense report

A key consideration related to business intelligence is that it focuses on data to aid in

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A key consideration related to business intelligence is that it focuses on data to aid in decision making, optimizing business processes, discover problems, drive revenues, improve efficiency, and get ahead of rivals.

Raul, a salesperson for the lovely landscapes landscaping company, is working with a longtime customer who is interested in either cutting back on the services or getting a better price due to the tight economy. raul tells his manager, "i want to take care of the customer with the best value. so what do you think is the best package to offer in this situation?" raul and his manager are trying to utilize the

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The answer is contingency design. It is the sum incorporated into a development spending plan to take care of extra expenses for conceivable outline changes. The measure of possibility fluctuates with the phases of outline. As the plan is finished, the possibility ought to be diminished to almost zero for most school ventures.

A surgical team was operating in a rural hospital without a backup electrical generator. the power went out. to provide light for the surgery, they collected all the cell phones in the hospital and turned them on. the operation was able to proceed because the surgical team avoided ________ and ________ the problem

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"A surgical team was operating in a rural hospital without a backup electrical generator. the power went out. to provide light for the surgery, they collected all the cell phones in the hospital and turned them on. the operation was able to proceed because the surgical team avoided functional fixedness and restructured the problem."

Functional fixedness is the mental process that limits someone's ability to use something in a different way than that it is traditionally used. In this case, the functional fixedness would've been present if the surgical team would not proceed the surgery because of the lack of traditional light.
Restructuring a problem is when the surgical team was able to look at the problem in such a way that they were able to find solutions that would not come to immediate thinking, and require a different insight than the usual.

Devante looks at a weekly sales report to find out how much each sales associate and each store sold, compared to sales goals. doing this, devante is fulfilling the __________ function of management.

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This is the controlling function. In this, the manager looks at prior goals, compares the current levels of performance to those goals, and makes sure that everything is working in a way that is meeting or exceeding those predetermined standards. When they are not, the manager looks for ways to correct these shortfalls.

A local animal feed company makes its feed by the ton which is 2000 pounds

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Animal feed is a cheap and convenient way for animal caretakers to feed their animals. One of the side effects is that animal feed may not address all of an animals nutritional needs. By creating their feed in bulk they are likely saving money.

What disagreement led to legal conflicts between the mexican and european-american landowners in the 1880s?

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The transcontinental railroad was completed in 1869, and railroad companies wanted to expand into land that was tribal land. Settlers also want to claim the land on the frontier. This causes conflict, because American settlers were trying to claim land that, according to Mexican law, belonged to the community of the natives whose families lived there. However according to American law, ownership is through purchasing a deed. This difference of law caused conflict.

Annuity payout option allows the policyowner to choose a pre-determined number of benefit payments?

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The annuity payout option which allows the policyowner to choose a pre-determined number of benefit payments is known as an "Ă„nnuity Certain". A certain annuity is generally less expensive and provides a better return than a whole life annuity as there is some risk that the policy holder will outlive the payment stream, known as longevity risk.
Final answer:

An annuity payout option allows the policyowner to choose a pre-determined number of benefit payments. It provides flexibility for individuals to tailor their income needs based on their financial goals and circumstances.

Explanation:Annuity Payout Option



An annuity payout option is a financial product offered by insurance companies that allows the policyowner to choose a pre-determined number of benefit payments. This option is typically available for annuities, which are contracts between an individual and an insurance company that provide regular income payments in exchange for a lump sum or periodic premium payments.



For example, let's say someone purchases an annuity and opts for a 10-year certain and life annuity payout option. This means that the insurance company will make guaranteed payments to the policyowner for 10 years, no matter what happens. After the 10-year period, the payments will continue for as long as the policyowner lives.



Overall, the annuity payout option provides flexibility for individuals to tailor their income needs based on their financial goals and circumstances. It allows them to choose a specific number of payments and structure their retirement income accordingly.

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according to the substitution effect, what are consumers likely to do if the price of the leading brand of orange juice increases?

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Buy a cheaper brand of orange juice, or buy apple juice.

According to the substitution effect, these are the consumers who would like to buy a cheaper brand of orange juice, or buy apple juice, if the price of the leading brand of orange juice increases.

What is a substitution effect?

It is the substitute effect because of which there is a degree in the state of any product. It is attributed to consumers when they switch to a cheaper alternative whenever the price of any particular product increases.

This substitution effect is an important component whenever there is any change in the price. When the price of any product or any good changes, there is a direct impact on the amount of the demand that depends upon the consumers.

Therefore, it also has an effect on the income of the company that is producing that particular product when the price of its product increases.

An image has been attached for better understanding.

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A _____ cost occurs when the amount used varies based on the volume of service provided.

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In Accounting there are four types of costs: direct, indirect, fixed, variable and operating costs.
Direct cost is the material, labor, expense, or distribution cost required to produce the product.
Fixed costs are cost of building a factory, insurance and legal bills.
opposite to fixed costs, a variable cost occurs when the amount used varies based on the volume of service provided.

The archeological records of egyptian cities are less detailed due to the

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The archeological records of Egyptian cities are less detailed due to the building materials.

Explain one challenge raised by vint cerf in "the internet is for everyone - but it won't be if…." and give one example of it that you know about.

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The most obvious challenge that I can think of is the topic of censoring the internet. If the internet is truly for everyone then it has to be inclusive to all beliefs, ideas and cultures. Unfortunately for this to happen, some use the internet for destructive purposes.
According to Vint Cerf, "Internet is for everyone - but it won't be if it isn't affordable by all that wish to partake of its services, so we must dedicate ourselves to making the Internet as affordable as other infrastructures so critical to our well-being." This is one of the most obvious challenges of internet consumption. The problem with, let's say oligopolies (wherein only few companies provide the internet such as in some countries in Southeast Asia), internet service can be priced unreasonably or may not be of optimal quality. This is because there is not much competition, which is what makes the few companies confident to manipulate their services for self gain. 

The eighth grade is preparing for its annual "school scam skit," in which students parody amusing school events during the year. alonzo, the class president, discovers that the class has mistakenly sold 500 tickets for an auditorium with a seating capacity of only 200. the auditorium is not available for any other night, and the class does not have the funds available to rent a suitable room elsewhere. numerous possible solutions may exist, but the class is feeling panicked. the class officers are meeting in order to attempt to find a solution to this problem. what type of cognitive approach is each class officer using?

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I believe that the cognitive approach to be used by each officer to this problem to start with the facts of 500 tickets sold and only 200 seats. Maybe with the  
proceeds of 500 seats instead of 200, another venue can be afforded or else it can be decided to reimburse 300 of the ticket holders is such a venue can't be found and continue with the 200 seat place for the first 200 ticket holders.

There are three common failures involved in a prosecutor neglecting one's duties. they are

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Nonfeasance, which simply means failing to perform one's duty. Misfeasance, meaning wrongful performance, in other words screwing up one's duties and not following protocol. Malfeasance, probably the worst failure, it means to intentionally hurt someone by abusing one's powers. These three failures fall under the code of ethics, in other words, doing the right thing. By committing any of these acts, one is breaking that code and doing a poor job.

Which document allows patients to specify their wishes in regard to four specific dire medical situations by using a 48-item questionnaire?

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The document that allows patients to specify their wishes is the medical directive, also known as an advance healthcare directive. If someone has some health issues, they are able to use this document to specify what they want to happen to them and who is in charge.

The document in question is an advance directive, which allows patients to specify their wishes regarding medical care using a 48-item questionnaire.

The document in question is known as an advance directive. An advance directive allows patients to specify their wishes regarding medical care in scenarios where they might be unable to express their decisions. This particular type of advance directive involves a 48-item questionnaire which assists in detailing patient preferences in four specific dire medical situations.

Advance directives help ensure that a patient's wishes regarding life-sustaining measures are communicated effectively to their family, friends, and healthcare professionals. These documents can include instructions about whether to accept or refuse treatments such as resuscitation, mechanical ventilation, tube feeding, and more.

In summary, by filling out an advance directive, individuals can express their medical care preferences well in advance, providing clarity and avoiding confusion during critical moments.

_____ holds data when the computer is off or during the course of a program's operation.

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The word to fill the blank space is "Secondary Memory".
Complete sentence will be as below:

Secondary memory holds data at a time when the computer is not on an/or at a time when a program is operating its functions.
This part also serves as archival storage, it is used when someone needs to store huge amount of data and for a longer period of time.

The international illegal trade in wildlife brings in an average of ____.​

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These benefactors would earn around  $600,000 USD per hour. Many poachers often earn a lot from wildlife trade because of its rarity. Many endangered animals like the elephants and rhinos are often hunted because of their ivory tusk which cost around $1,500 USD per pound. The greater the number they get the higher the price they received.

John spent his summer picking cantaloupes for a farmer. the farmer paid john a certain amount for every basket of cantaloupes picked. john worked on a _________.

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Final answer:

John worked under a piece rate system where he was paid based on the number of cantaloupe baskets picked, a method common in historical and contemporary agricultural work.

Explanation:

John worked on a piece rate system during his summer job picking cantaloupes. This system is where employees, such as fruit pickers or cotton planters, are paid based on the quantity of output they produce. Specifically, in the agricultural sector, workers like John are often compensated for each basket of fruit picked, reflecting a structure where the efficiency and productivity of the worker directly affect their earnings.

Historically, similar systems were in place during the times of slavery where the amount of cotton picked by an enslaved person determined their daily yield. Such practices created significant pressure on workers to meet expected quotas. In a modern context, while not under such austere conditions, the principle remains that performance is tied directly to compensation.

A firm that is certified as meeting both iso 9000 and iso 14000 standards has demonstrated:

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commitment to meeting quality standards (as established through ISO 9000) and more specifically, environmental quality standards (as specified by ISO 14000). The International Organization for Standards is responsible for establishing these standards.

"__________ is part of intel corporation's disclose policy."

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Vulnerability is part of intel corporation's disclosure policy. The corporation actively searches for all the vulnerabilities that it may find in the users product. This is how they avoid breaches that may occur.

Levio is a company that makes mobile apps and has decided to become a market leader in the field. levio can encourage the development of a culture where workers perceive that new ideas are welcomed by offering challenging work and supervisory encouragement. in other words, the company can create a(n) ____.

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The answer is that  in other words, the company can create a creative work environment.
The environment in which a company works is really matters and there are many dimensions or components that makes the creative work environment like Challenge & Involvement, Freedom & Autonomy, Idea-Time and idea support, trust etc.
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