1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lbvjy [14]
1 year ago
6

The basic formula for the price elasticity of demand is.

Business
1 answer:
Kamila [148]1 year ago
3 0

Answer: percentage change in quantity demanded

Explanation: the basic formula for the price elasticity

You might be interested in
Seth is a competitive body builder. He says he has ti have his 12 oz package of protein to " feed his muscles" every day. On the
nexus9112 [7]

Answer:

1. It is perfectly inelastic

Explanation:

Elasticity of Demand is the responsiveness of demand to price change.

  • Elastic Demand > 1 ; implies demand changes proportionately more than price change
  • Inelastic Demand < 1 ; implies demand changes proportionately less than price change
  • Perfectly Elastic Demand  = ∞ ; implies demand changes infinitely to price change, so the prices are constant
  • Perfectly Inelastic Demand = 0 ; implies demand doesn't respond to price change, so quantity demanded is constant

Given : Seth body builder needs 12oz protein packet to 'feed his muscles' depicts that it is a necessity good to him. Being a necessity good, it would be demanded by Seth irrespective of price.

So, the demand is perfectly inelastic.

3 0
3 years ago
Cox, North, and Lee form a partnership. Cox contributes $201,000, North contributes $167,500, and Lee contributes $301,500. Thei
Masteriza [31]

Answer:

Lee's portion of income =$81, 900

Explanation:

<em>The income or loss would be shared according to the ratio of capital contributed. The ratio is the proportion of capital contribute per partner to the total pool of capital.</em>

Lee;s portion of income

= lees capital/total capital × reported income

= 301,500/(201,000+167,500+ 301,500)  × 182,000

= $81, 900

Lee's portion of income =$81, 900

3 0
2 years ago
What are the four scope levels available for dimensions and metrics in google analytics?
lbvjy [14]
The correct answer is: Hit-level, session-level, product-level, or user-level scope

Explanation: http://www.certificationanswers.com/en/what-are-the-four-scope-levels-available-for-dimensions-and-m...
5 0
3 years ago
Brief Exercise 22-07 Sunland Company classifies its selling and administrative expense budget into variable and fixed components
prohojiy [21]

Answer:

So whats the question???

Explanation:

7 0
3 years ago
Which of the following BEST describes a distinctive competency of a​ firm?
arlik [135]

Answer:

C. A capability that is superior to the competition

Explanation:

Distinctive competency of a firm simply refers to a firm’s unique capability which makes the firm stand out in an area (areas such as marketing activities, technology etc) among their competitors. Distinctive competence makes a firm have an advantage over others, as well as perform better than other competitors.  

For example, the distinctive competency of Apple is their ability to create well-designed products that are customer-centric and friendly to use.

5 0
2 years ago
Other questions:
  • Which of the following loans typically offer the lowest interest rate
    5·1 answer
  • Professionals in the Broadcasting and Journalism pathway are responsible for which of the following?
    11·2 answers
  • The budgeted income statement presented below is for Burkett Corporation for the coming fiscal year. Compute the number of units
    8·2 answers
  • The practice of changing prices for products in real time in response to supply and demand conditions is referred to as
    13·1 answer
  • Companies typically start their international foray with ________, which involves working through independent intermediaries who
    10·1 answer
  • Keep-or-Drop Decision Petoskey Company produces three products: Alanson, Boyne, and Conway. A segmented income statement, with a
    15·1 answer
  • Describe how a job interview is affected by your clothing and body language
    8·1 answer
  • Which career is likely to earn the highest salary.
    6·1 answer
  • If a car company collaborated with a sheet metal supplier, the car company would be the supplier's ______. Multiple choice quest
    12·1 answer
  • Which is not an area of significant difference between manufacturing and service operations?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!