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mafiozo [28]
1 year ago
7

What is meant by 'Price elastic demand?​

Business
1 answer:
Semenov [28]1 year ago
8 0

Answer:

The amount requested of an item or service divided by the percentage change in price is the price elasticity of demand. The percentage change in quantity supplied divided by the percentage change in price represents the price elasticity of supply.

Explanation:

have a nice day!

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The practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative re
Fantom [35]

Major Account Management is the practice of concentrating on key clients in order to develop long-term, cooperative relationships that are mutually profitable.

Understanding who makes choices, who our rivals are, and how our product affects the customer's business are all important aspects of managing major accounts. Those in management should keep refining their analytical, networking, and questioning skills.

Since success does not just happen, any important account needs to be managed. Organizing a regular review meeting with the customer, educating the account staff to better understand the customer, handling issues and managing complicated projects are all examples of managing. When I say manage, I mean performing all those actions that make things run smoothly. We will significantly boost our chances of long-term, sustainable success if we put a lot of effort into each of the account management areas and if we earn our consumers' confidence.

Learn more about Major Account Management here

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8 0
2 years ago
Prepare general journal entries to record the following transactions for the Harris
e-lub [12.9K]

31/12/2013 bad debts expense  800$

                                      Provision for bad debt expense    800$

                       Provision for bad debt    60$

                                                                Debter   60$

                        Provision for bad debt   75$

                                                          Debter   75$

                        Provision for bad debt  45$

                                                           Bad debt recovery income 45$

                        Provision for bad debt   100$

                                                        Debter  100$

                                Provision for bad debt  25$

                                                                Bad debt recovery income  25$

7 0
3 years ago
Read 2 more answers
Why do we record Direct deposits into the CPJ
Oksi-84 [34.3K]

Explanation:

Because those payments are done for creditors, repayment of loans and other expenses

6 0
1 year ago
1. An engineer in 1950 was earning $6,000 a year. Today she earns $60,000 a year. However, on average goods today cost 6.6 times
vivado [14]

The engineer's real income today in terms of constant 1950 dollars is $14,400.

<h3>What is the real income?</h3>

Real income ls nominal income less inflation rate. Inflation rate is when there is a persistent rise in the general price levels of a country.

Real income = nominal income - inflation

Inflation = (1 + 6.6) x $6000 = $45,600

Real income = $60,000 - $45,600 = $14,400

To learn more about real income, please check: brainly.com/question/6616964

7 0
2 years ago
A country has constant opportunity cost of production. If they devote all of their resources to the production of blankets they
Zigmanuir [339]

Answer: 2.75 blankets.

Explanation:

The opportunity cost is the value of a good that is sacrificed by choosing some other alternative. So, there are certain costs associated with the consumption of some goods.

In our case,

Opportunity cost of producing 1 shirt = \frac{810}{294}

                                                              = 2.75 blankets

Opportunity cost of producing 1 shirt is 2.75 blankets which means that 2.75 blankets have to be foregone to produce 1 shirt.

7 0
3 years ago
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