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
GenaCL600 [577]
1 year ago
13

The demand for ski rentals falls when the price of lift tickets increases. This is an example of?

Business
1 answer:
romanna [79]1 year ago
5 0

The demand for ski rentals falls when the price of lift tickets increases. This is an example of Price Elasticity of demand.

<h3>What Is Price Elasticity Demand?</h3>

This refers to the relationship between the price of a commodity relative to the demand of that same commodity.

  In other words Price elasticity of demand  is a measure of how sensitive the quantity demanded is to its price.

 

   When the price increase, quantity demanded for such product decreases. It is important to note that the fall in prices of some product is more than the others.

Learn more about Price Elasticity of Demand at brainly.com/question/5078326

#SPJ1

You might be interested in
At a business meeting, mr. smith is asked his opinion about a company proposal to give bonuses to workers who go above and beyon
omeli [17]

At a business meeting, mr. smith is asked his opinion about a company proposal to give bonuses to workers who go above and beyond. mr. smith will be using what form of delivery?
8 0
3 years ago
Read 2 more answers
Suppose that a firm operating in perfectly competitive market sells 200 units of output at a price of $3 each. Which of the foll
miv72 [106K]

Answer:

The correct answer is option i.

Explanation:

A firm is operating in a perfectly competitive market.  

The firm is selling 200 units of output.  

The price of each unit of output is $3.  

In a perfectly competitive market, a single firm faces a horizontal line demand curve. This horizontal line represents demand, price line, average revenue, and marginal revenue.  

So if the price is $3, it implies that the marginal revenue and average revenue is also equal to $3.  

The total revenue is $600.

4 0
3 years ago
Teller, a calendar year company, purchased merchandise from TechCom on November 1 of the current year. TechCom accepted Teller's
ikadub [295]

Answer:

Dr Interest Receivable $240

Cr       Interest Income             $240

Explanation:

The reason is that the Techcom company is lender and must account the lending as a loan.

The loan will be paid with the interest at the end of the period. The interest received at the end of December 31 would be the single month loan at the $4800 at the interest rate which is 10 percent here.

The Interest Income = $4800 * (10% interest rate * 2/12) = $240

The interes would be recorded for the two months which is $240 and accounted for as under:

Dr Interest Receivable $240

Cr       Interest Income             $240

And at the end of January 31, Teller will make the payment which would be accounted for as under:

Dr Cash $5260

Cr Interest Revenue  $120

Cr Notes Receivable $4800

Cr Interest Receivable $240

4 0
3 years ago
In an economy in which decisions are guided by prices and individual self-interest, there isa. the potential to achieve efficien
S_A_V [24]

In a market economy, like the one described in the question, there is the potential to achieve efficiency in production. This is because producers can choose what they produce and can focus on the products they are good at. This can help with economies of scale and efficiency.

3 0
3 years ago
Read 2 more answers
What type of brake lining is typically used on heavy-duty vehicles?
galina1969 [7]

For heavy-duty vehicles, sintered-metal brake linings are typically use for better performance and brake lining rivets is the best choice to secure brake shoe linings on trucks and other vehicles. Sintered brake linings offers a stable friction coefficient and produce good bite right away for safer travel. Moreover, they have good properties such as the ability to handle extreme heat well, they are resistant to fade, typically last longer than other types, and perform well even in rain and mud, which make it to be a choice for heavy-duty vehicles. <span>However, rivet heads may score the drum if the linings are not replaced soon enough, so proper maintenance should not be neglected.</span>

3 0
4 years ago
Other questions:
  • What are the likely reason(s) that the market for dress shirts is not perfectly competitive? please select all that apply?
    10·2 answers
  • Missionary selling:
    14·1 answer
  • Pico, a famous chef, agrees to give ten culinary les-sons to rhoda in exchange for $1,200. pico's attempt to transfer his contra
    14·2 answers
  • Managers that must analyze data from 500 hotels to determine when to discount rooms based on occupancy patterns would be placed
    8·1 answer
  • What is an example of a long term liability?
    6·2 answers
  • Suppose you bought a bond with an annual coupon rate of 5.5 percent one year ago for $1,017. The bond sells for $1,041 today.
    7·1 answer
  • Which of the following statements about price stickiness or flexibility is true? Multiple Choice Prices of many raw materials ar
    14·1 answer
  • Justin Company's budget includes the following credit sales for the current year: September, $40,000; October, $51,000; November
    15·1 answer
  • Distribution strategies ​
    14·1 answer
  • ABC Ltd. purchased a new 3-D printer for $500,000 at the beginning of year 1. Although this printer is expected to last for 10 y
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!