Can someone solve these points for me?
Answer-1:
The postal service of Caicos make more profit selling souvenir sheets for £ 16.00
Answer-2:
Price elasticity of demand(Ed) = [ln (1 + % change in quantity sold)] / [ln (1 + % change in price)]
= [ln (1 + (- 0.20))] / [ln (1 + (0.0625))]
= [ln (0.80)] / [ln (1.0625)]
= -0.09691 / 0.02633
= -3.68
Answer-3:
Profit-maximizing price = (1 + Profit-maximizing markup on variable cost) × Variable cost per unit
Profit-maximizing markup on variable cost = -1 / (1 + Ed)
= -1 / (1 + (-3.68))
= -1 / -2.68 = 0.3731
Profit-maximizing price = (1 + 0.3731) × £ 1.50 = 1.3731 × £ 1.50 = £ 2.06
Can someone solve these points for me? Question 4 Answer all parts of this question. The...
The postal service of St. Vincent, an island in the West Indies, obtains a significant portion of its revenues from sales of special souvenir sheets to stamp collectors. The souvenir sheets usually contain several high-value St. Vincent stamps depicting a common theme, such as the life of Princess Diana. The souvenir sheets are designed and printed for the postal service by Imperial Printing, a stamp agency service company in the United Kingdom. The souvenir sheets cost the postal service $0.75...
The postal service of St. Vincent, an island in the West Indies, obtains a significant portion of its revenues from sales of special souvenir sheets to stamp collectors. The souvenir sheets usually contain several high-value St. Vincent stamps depicting a common theme, such as the life of Princess Diana. The souvenir sheets are designed and printed for the postal service by Imperial Printing, a stamp agency service company in the United Kingdom. The souvenir sheets cost the postal service $1.25...
The postal service of St. Vincent, an island in the West Indies, obtains a significant portion of its revenues from sales of special souvenir sheets to stamp collectors. The souvenir sheets usually contain several high- value St. Vincent stamps depicting a common theme, such as the life of Princess Diana. The souvenir sheets are designed and printed for the postal service by Imperial Printing, a stamp agency service company in the United Kingdom. The souvenir sheets cost the postal service...
The postal service of St. Vincent, an island in the West Indies, obtains a significant portion of its revenues from sales of special souvenir sheets to stamp collectors. The souvenir sheets usually contain several high-value St. Vincent stamps depicting a common theme, such as the life of Princess Diana. The souvenir sheets are designed and printed for the postal service by Imperial Printing, a stamp agency service company in the United Kingdom. The souvenir sheets cost the postal service $1.15...
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