Price Elasticity

The Tariff, the Price Elasticity of Demand and the Impact on Company Profits

Here is some help with elasticity. https://cdnapisec.kaltura.com/index.php/extwidget/preview/partner_id/956951/uiconf_id/38285871/entry_id/1_f4j9no40/embed/dynamic

In this week’s discussion your are going to be the CEO of a company. In anticipation of the upcoming quarterly disclosure of profits, you prepare your Board of Directors for the challenge that US Tariffs on Chinese Imports is having on profits. Please make yourself CEO of only one of these hypothetical companies.

‘Tis the Season- ‘Tis the season is one of the largest importers of holiday decorations and the summer quarter is devoted to importing decorations such as lighting, artificial trees, table runners, outdoor yard decorations all of which have to be ready to ship by early fall. In fact we at ‘Tis the Season has a highly inelastic supply curve, they ramp up to produce decorations for each season and then once that season has been shipped they move on to the next season. Fortunately the price elasticity of demand for almost all of your products is 0.19.

We Build Big – We Build Big is one of the largest developers of residential structure in the US. We Build Big, builds every thing from apartment complexes to new single family homes. Critical materials such as lumber, gypsum board, fabricate metal etc are largely imported. We Build Big know that our production process, the supply curve, is relatively inelastic. The concern over profits is that the price elasticity of demand for housing is 1.0.

Very Big US Auto – Very Big US Auto is one of the oldest and one of the largest auto manufacturers of auto in the US. Very Big US Auto’s supply chain is highly dependent components manufactured in China and assembled in the US. Very Big US Auto knows that the price elasticity of supply is relatively inelastic and that then the price elasticity of demand which is1.2.

Now explain:

Is the demand curve for your product relatively elastic, inelastic or unitary elastic? Demonstrate for your company’s product, by how much the quantity demanded will change if you pass on the 25% increase in cost from the tariff as a price increase for your product. In other words, show your calculation of the percentage change in the quantity demanded given a 25% change in the price.
Given your company’s price elasticity of supply and price elasticity of damand prepare a statement for your board as to the potential impact of profits. Who will pay the the larger share of the tariff, your firm or your customers.
NOTE THERE IS NO WAY AROUND IT, YOUR RESPONSE MUST INCLUDE A CALCULATION. DR. ISLEY COVERS THE CALCULATION IN HER LIVE SESSION.

PLEASE DO NOT RELY ON WIKIPEDIA, INVESTOPEDIA OR ANY OTHER PEDIA AS A REFERENCE AT ANYTIME IN THIS COURSE.

https://cdnapisec.kaltura.com/index.php/extwidget/…

Sample Solution

Weird Habits of Famous Writers

GuidesorSubmit my paper for examination

Inventive individuals are regularly alluded to as being bizarre. In reality, the manner in which such individuals approach paltry undertakings, their viewpoints, habits, and qualities can be marginally or even altogether unique in relation to the remainder of their given society. Simultaneously, such people are fit for making something that is out of numerous individuals’ ability: visual expressions, music, writing, etc. Specifically, numerous well known journalists were known to be capricious; they created impossible to miss propensities and customs—frequently for imaginative efficiency or motivation—that their peers regularly couldn’t acknowledge as ordinary.

For instance, Jack Kerouac was known not simply to lead a to some degree unfortunate and minor way of life, yet additionally for his extravagant way of composing; there were no PCs in his days, and everything was composed on a typewriter. It inferred, specifically, the manual “reloading” of a typewriter: when a writer completed a page, the person in question needed to haul it out and embed another one. Kerouac abhorred this confinement; so as to stay away from it, he composed on long parchment like sheets that would expand apparently unendingly. At the point when he was taking a shot at his popular novel “On The Road,” he composed every last bit of it along these lines; Kerouac’s exposition regularly streams like water, his pace of composing was quick, so as to look after it, utilizing this kind of paper was fine. He had, nonetheless, difficulties with his editorial manager Robert Giroux in light of this strategy (Brainpickings.org).

Some well known journalists liked to compose while resting. Composing along these lines (like Woody Allen, George Orwell, Mark Twain, or Truman Capote) can be viewed as exceptional somewhat, however contrasted with Victor Hugo’s propensity, it is commonplace. What about composition while being bare? At the point when Victor Hugo was taking a shot at his renowned “The Hunchback of Notre Dame” he believed he couldn’t burn through his time and head outside, so he requested that his family members remove all his garments. Along these lines he could remain in his bureau and compose. In any event, when the days were cold, he would take a shot at the novel while being enveloped just by a sweeping (Lifehack.org).

William Faulkner, one of the most popular American scholars, was known to have extreme issues with liquor; he expended enormous segments of it while composing. This propensity for his began in the wake of meeting Sherwood Anderson in New Orleans. Faulkner himself clarified his propensity (or dependence) in the accompanying way: “We’d meet in the nights, and we’d go to a drinking place and we’d lounge around ’till a couple of o’clock drinking, and still me tuning in and him talking. At that point in the first part of the day he would be in detachment working, and whenever I’d see him, something very similar, we would go through the evening and night together, the following morning he’d be working. Also, I thought at that point, if that was the existence it took to be an essayist, that was the life for me” (Flavorwire.com).

As it tends to be seen, well known journalists frequently had propensities that didn’t exactly fit into cultural standards. Jack Kerouac ignored the necessities of his editors for his solace: to deal with his own quick pace of composing, he would tape paper sheets together as a parchment, so he didn’t need to reload his typewriter constantly. Victor Hugo would request that his family members remove the entirety of his garments—along these lines he had no chance to head outside, and in this manner needed to remain at home chipping away at his books. William Faulkner drank a ton of bourbon when he was composing, so it is difficult to recognize whether it was a compulsion or an everyday practice. Such practices are not the same as the manner in which individuals typically carry on, so it very well may be said that these are methods for innovative individuals.

References

“The Odd Habits and Curious Customs of Famous Writers.” Brain Pickings. N.p., n.d. Web. 09 Sept. 2015.

“9 Weird Habits that Famous Writers Formed to Write Better.” Lifehack. N.p., n.d. Web. 09 Sept. 2015.

“Abnormal Writing Habits of Famous Authors.” Flavorwire. N.p., 25 Dec. 2011. Web. 09 Sept. 2015.

This question has been answered.

Get Answer
WeCreativez WhatsApp Support
Our customer support team is here to answer your questions. Ask us anything!
👋 Hi, Welcome to Compliant Papers.