Suppose that business travelers and vacationers have the following demand for airline tickets from Los Angeles to San Francisco:
Price
$150
$200
$250
$300
Quantity Demanded
(business travelers)
35,000
30,000
26,000
20,000
Quantity Demanded
(vacationers)
25,000
21,000
14,500
11,000
1. As the price of tickets rises from $200 to $250, what is the price elasticity for both
(a) business travelers and (b) vacationers ?
2. Why might vacationers have a different elasticity than business travelers?
3. What would be the Exact Quantity Demanded and change in Total Revenue if the
Airlines Change the Price for Business Travelers from $200 to $230?

Jurvin enterprises is a manufacturing company that had no beginning inventories. a subset of the transactions that it recorded during a recent month is shown below. $76,700 in raw materials were purchased for cash. $71,400 in raw materials were used in production. of this amount, $66,300 was for direct materials and the remainder was for indirect materials. total labor wages of $151,700 were incurred and paid. of this amount, $134,300 was for direct labor and the remainder was for indirect labor. additional manufacturing overhead costs of $126,300 were incurred and paid. manufacturing overhead of $126,800 was applied to production using the company's predetermined overhead rate. all of the jobs in process at the end of the month were completed. all of the completed jobs were shipped to customers. any underapplied or overapplied overhead for the period was closed to cost of goods sold. required: 1. post the above transactions to t-accounts.2. determine the cost of goods sold for the period.

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The purpose of safety stock is to: a. eliminate the possibility of a stockout. b. control the likelihood of a stockout due to variable demand and/or lead time. c. eliminate the likelihood of a stockout due to erroneous inventory tally. d. protect the firm from a sudden decrease in demand. e. replace failed units with good ones.