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Elasticity an important concept for a business like beachfront properties because it determines how much the value of the property could potentially fluctuate. If the price goes down, demand increases.
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Cross elasticity of demand is sometimes written as XED. In business the cross elasticity of demand is important because it will help determine whether or not it is a good move to increase or decrease prices or to substitute one product for another for the purpose of revenue.
price elasticity
role of price elasticity of demand in managerial decisions
Elasticity an important concept for a business like beachfront properties because it determines how much the value of the property could potentially fluctuate. If the price goes down, demand increases.
abc
Some of the business applications are: (1) Finding the number of ouputs produced to maximize the profit. (2) Calculation of marginal revenue , marginal cost (3) Calculation of marginal average cost (4) Calculating elasticity of demand
Cross elasticity of demand is sometimes written as XED. In business the cross elasticity of demand is important because it will help determine whether or not it is a good move to increase or decrease prices or to substitute one product for another for the purpose of revenue.
price elasticity
role of price elasticity of demand in managerial decisions
Profit margin is one of the most important aspects of a business to examine, both before entering into a business venture and throughout the business operation. Calculating profitability is an accurate way to determine the success of your business.
It is most useful for calculating the profitability of he business whenever required. The expression defines it as contribution/sales x 100. It is also important for calculating Break even point.
It tells the business owner what their demands will be.
(1) Total outlay or Expenditure Method (2) Proportionate or Percentage Method (3) Point Elastic Method (4) Arc Elasticity of Method (5) Revenue Method
It is important because if a company doesn't understand their product's elasticity of demand, they are screwed!
the important of calculating your bmr is to see the body fat