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2 years ago

When a 1 percent decrease in price produces more than a 1 percent increase in quantity sold, the product or service is

2 answers:

7 0

When a 1 percent decrease in price produces more than a 1 percent increase in quantity sold, the product or service is an Elastic Demand.

<h3>What is an Elastic Demand?</h3>

Elastic demand is measured by its percent of change in demand divided by its percent of change in price, provided all other factors remain the same.
If the change in price and change in demand is proportionate, the item is neither elastic nor inelastic.
An item has elastic demand if its demand changes more than its price changes.

For example, if two stores sell identical products of the same amount for different prices, incase of a perfectly elastic demand nobody would buy from the seller with higher priced product.

Learn more about Elastic Demand here:

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Lemur [1.5K]2 years ago

7 0

When a 1 per cent decrease in price produces more than a 1 per cent increase in quantity sold, the product or service is an Elastic Demand.

<h3>What is an Elastic Demand?</h3>

Elastic demand is measured by its per cent of change in demand divided by its per cent of change in price, provided all other factors remain the same.

If the change in price and change in demand is proportionate, the item is neither elastic nor inelastic.

An item has elastic demand if its demand changes more than its price changes.

For example, if two stores sell identical products of the same amount for different prices, in case of a perfectly elastic demand nobody would buy from the seller with a higher-priced product.

Learn more about Elastic Demand here:

brainly.com/question/14897348

#SPJ4

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Vertically integrated corporations: Group of answer choices led influential economist David A. Wells to call for a simpler form

jok3333 [9.3K]

Answer:

The acquisition of businesses that gives the company control of supply chains is vertical integration.

Explanation:

Vertically incorporated corporations acquires either its customer's business or its supplier's business to have a control of supply chains and distribution channels.

The customer's business acquisition is often referred to as forward integration and the movement of a company to acquire its supplier's business is often referred to as backward integration.

6 0

3 years ago

Read 2 more answers

On January 2, 2021, Miller Properties paid $28 million for 1 million shares of Marlon Company's 6 million outstanding common sha

emmainna [20.7K]

Answer:

A. Income statement $8.4 million

B. Balance sheet million $35.4 million

C. Operating cash flow million $1 million

Investing cash flow million=$28 million

Explanation:

a. Calculation for Income statement million

Using this formula

Income statement=Investment revenue -Patent amortization adjustment

Let plug in the formula

Income statement= ($54 million × 1/6)-([$36 million] × 1/6]÷10 years)

Income statement=$ 9.0-$0.6

Income statement=$8.4 million

Therefore Income statement million will be $8.4 million

b. Preparation of the Balance sheet million

Cost $28 million

Add Investment revenue $9.0 million

($54 million × 1/6)

Less Dividend ($1 million)

($6 million × 1/6)

Less Patent amortization adjustment ($0.6 million)

([$36 million] × 1/6]÷10 years)

Balance sheet million $35.4 million

($28 million+$9.0 million-$1 million-$0.6 million)

Therefore Balance sheet million will be $35.4 million

c. Preparation of the Statement of cash flows

Operating cash flow million=($6 million × 1/6)

Operating cash flow million= $1 million

Investing cash flow million=$28 million

Therefore Operating cash flow million will be $1 million while the Investing cash flow million will be $28 million.

5 0

3 years ago

If government tax revenues change automatically and in a countercylical direction over the course of the business cycle, this wo

luda_lava [24]

Answer: Option (C) is correct.

Explanation:

Correct Option: Political business cycle

If government tax revenues change automatically and in a countercylical direction over the course of the business cycle, this would be called a Political business cycle.

These cycles are present in macroeconomic variables such inflation rate, output and unemployment. There are two types of regime follow in this cycle are as follows:

(i) Regime A consist of expansionary polices which results in a economic growth and inflation. If the inflation rate is high enough then there is a withdrawal of policy.

(ii) Regime B consist of contractionary polices which results in reducing economic growth and inflation. It will become voted out if the unemployment is too high, replaced by Regime A. It generally lead to downward movement of the cycle.

7 0

3 years ago

Corporation makes one product. July August September October Budgeted unit sales 8,500 9,000 13,900 11,100 - The ending finished

s344n2d4d5 [400]

Answer:

$133,704

Explanation:

The budgeted required production for August is computed as follows:

Budgeted sales in units 9,000

Add desired ending inventory 5,560

(September sales of 13,900 units × 40%

= 5,560 units)

Total needs 14,560

Less beginning inventory 3,600

(August sales of 9,000 units × 40%

= 3,600 units.)

Required production 10,960

The budgeted raw material purchases for August are computed as follows:

Required production in units of finished goods 10,960

Units of raw materials needed per unit of finished goods 6

Units of raw materials needed to meet production(10,960×6) 65,760

Add desired units of ending raw materials inventory 7,688

(76,680 pounds × 10% = 7,668 pounds)

Total units of raw materials needed 73,428

Less units of beginning raw materials inventory 6,526

( 65,760 pounds × 10% = 6,576 pounds)

Units of raw materials to be purchased 66,852

The budgeted cost of raw material purchases for August is computed as follows:

Units of raw materials to be purchased (a)$66,852

Unit cost of raw materials (b)$2.00

Cost of raw materials to be purchased (a) × (b)$133,704

8 0

4 years ago

Distributive, procedural, and interactional are

Jet001 [13]

Answer:

Organizational justice

Explanation:

Organizational justice concerns employees' understanding of fairness, results, and processes within a company. Distributive, procedural, and interactional are the three types of organizational justice that companies must embrace in order to have happy and productive employees.

4 0

3 years ago