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zhannawk [14.2K]
1 year ago
12

if customers buy a quantity of seven products per week, regardless of the price, the numeric value of the price elasticity of de

mand for the product is:_________.
Business
1 answer:
RideAnS [48]1 year ago
5 0

If customers buy a quantity of seven products per week, regardless of the price, the numeric value of the price elasticity of demand for the product is zero.

<h3>What is the price elasticity of demand?</h3>

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

When a person purchases the same quantity of a good regardless of the price, it means that demand is perfectly inelastic. Perfectly inelastic demand means that the same quantity of a good is bought regardless of the price. Essential goods usually have a perfectly inelastic demand.

To learn more about price elasticity of demand, please check: brainly.com/question/18850846

#SPJ1

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_____ are observable, statistical aspects of populations including such factors as age, gender, or income. Group of answer choic
Damm [24]

Answer:

The correct answer is letter "E": Demographics.

Explanation:

Demographics is the study and categorization of people based on factors such as <em>income level, education, gender, race, age, </em>and <em>employment</em>. In business, demographics are important because they help a company better target the market for its products and, thus, better utilize its marketing expenditures.

8 0
3 years ago
Suppose the demand for macaroni is inelastic, the supply of macaroni is elastic, the demand for cigarettes is inelastic, and the
vfiekz [6]

Answer:

both taxes would fall more heavily on the buyers than on the sellers

Explanation:

Here are the options:

 a. both taxes would fall more heavily on the buyers than on the sellers. b. the macaroni tax would fall more heavily on the sellers than on the buyers, and the burden of the cigarette tax would fall more heavily on the buyers than on the sellers c. the macaroni tax would fall more heavily on the buyers than on the sellers, and the burden of the cigarette tax would fall more heavily on the sellers than on the buyers O d. both taxes would fall more heavily on the sellers than on the buyers.

Tax is a compulsory sum levied on goods and services. Taxes increases the price of goods and services

Supply is elastic if a small change in price leads to a greater change in the quantity supplied.

Demand is inelastic if there's little or no change in demand when price is increased.

More burden of tax should fall on the consumers because their demand is inelastic. So, if prices rise as a result of the tax, there would be little or no change in quantity demanded.

But in the case of suppliers, they are sensitive to price and a rise in price would cause quantity supplied to fall and revenue would fall.

I hope my answer helps you

5 0
3 years ago
Describe the steps involved in closing the books. What’s is the most important output of the accounting cycle? What would happen
yuradex [85]

The steps involved in closing the books are as follows:

Closing the Revenues

Closing the Expenses

Closing the net income

Closing the dividend and withdrawals


The most important output of the accounting cycle is the financial statement like balance sheet and Income statement. If the books were never closed, then the business would never be able to know the financial position for a particular accounting period.  


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3 years ago
There is a 15 percent probability the economy will boom; otherwise, it will be normal. Stock G should return 15 percent in a boo
Bess [88]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
4 0
3 years ago
WILL GIVE BRAINLIEST
shepuryov [24]

the answer is b:) because high interest rates mean increased cost for all the others since it is not a fixed cost for them

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3 years ago
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