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Q: explain the inportance of demand analysis to business
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| Term used to describe calculated to meet the need of a production schedule, for example. |
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- It has been mentioned that there should be a match of supply and demand in a company that produces spare parts.Department A can produce parts at a rate of 80/day.Department B uses those parts at the rate of 10/day.Each day unused parts are added to inventory.At what rate does inventory of unused parts buid up?State the processes performed when demand is predicted to be greater than supply.What other name is supply point denoted by? Origin Demand Destination End point(s)
- Question 15.15. Two months ago, the Marbury Shirt company sold 200 shirts at $30 per shirt. Last month, the company raised its price to $35 per shirt and sold 300 shirts. Evidently the company experienced a(n) decrease in demand. increase in demand. decrease in supply. increase in supply.Elasticity of supply tends to be greater when * inputs are specialized.time period allowed for adjustment is fairly long.degree of advertising is great.demand for the product is inelastic.Remembering the learning activity in Unit 3, the Gondwanaland chairman of production reported that the gosum berry growers could meet a demand of 700 barrels of gosum berries per month at a price of $70 per barrel. Then the growers were plagued with a gosum berry bug infestation that reduced output, causing production to fall to only 600 barrels. This resulted in a price increase to $84 per barrel. The following table shows the chairman’s report: Month Monthly barrels of gosum berries demanded Price per barrel June 700 $70 July 600 $84 Using the midpoint method, show your work and calculate the price elasticity of demand for Gondwanaland gosum berries. Explain what this price elasticity of demand means? Complete the table below by calculating what the monthly total revenue is for June, what the monthly total revenue is for July, and the change in total monthly revenue for these two months. How have these numbers changed? (Enter your response…
- Resource demand Select one: a. Does not depend upon the productivity of the resource b. Is a direct demand c. None of the answers are correct d. Is a relationship between price of product and cost of resource e. Is a derived demandA steeper supply curve is more likely to be (a) Price elastic (b) Unit Price Elastic (c) Price Inelastic (d) None of the aboveDemand [ Select ] the longer the time frame. more inelastic more elastic Demand is (Select ] the more substitutes there are for a good. Supply is I Select ) v the harder it is to scale up production of a good.
- If A New Breakthrough in Manufacturing technology reduces the cost of producing Blu-ray Players By Half what Will Happen to supply of blu-ray playersDiagram is must!A firm produces a steel bar. When the price of the steel bar is $ 30,000, the quantity demanded is 8 metric tons, a 100% change in the price would change the quantity demanded by 25%. At what price should the firm sell its product to maximize its total revenue?
