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3241004551 [841]
1 year ago
5

If a buyer has a critical or more important use of the product then the inelasticity of the demand increases. what factor is aff

ecting elasticity in this scenario?
Business
1 answer:
Ghella [55]1 year ago
3 0

If a buyer has a critical or more important use of the product then the inelasticity of the demand increases, then it is the importance of the product affecting elasticity.

A product is considered inelastic if its demand remains static even if there is a significant price change. It is generally the basic necessity product that are considered as inelastic product. Inelastic demand of the product ensures the adequate supply of goods. In inelastic demand case the quantity demanded is same despite the change in price and the demand curve is graphed out as a vertical line. These goods have no substitutes ensuring the quantity demanded remains unaffected.

In case of fall in the price, the demand remains same, generating less revenue. On the other hand, if price hikes, the business earns significant profit.

To learn more about inelastic demand click here:

brainly.com/question/13572905

#SPJ4

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Carol takes out an insurance policy on her car. Carol can assign her policy to a third party
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What is the typical relationship between time and interest rate?
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The more time the higher the interest rate
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Identify each scenario as an example of expansionary fiscal policy, contractionary fiscal policy, or not an example of fiscal po
sdas [7]

According to macroeconomic theory and money supply in the economy, the scenario as an example of expansionary fiscal policy includes "<u>A decrease in taxes."</u>

Other scenarios as an example of expansionary fiscal policy include the following:

  • An increase in government spending;
  • An increase in corporate bonds purchased;
  • An increase in the money supply;

Expansionary fiscal policy is a type of policy designed to increase the money supply in the economy.

On the other hand, examples of contractionary fiscal policy include the following:

  • A decrease in government spending;
  • A decrease in transfer payments to dampen economic activity;
  • An increase in taxes;
  • A decrease in the money supply;

Contractionary fiscal policy is a type of policy designed to decrease the money supply in the economy.

However, the scenarios which are considered as not examples of fiscal policy include the following:

  • A decrease in the unemployment rate;

Hence, in this case, it is concluded that fiscal policy used by the government can either be expansionary or contractionary.

Learn more here: brainly.com/question/8936326

5 0
3 years ago
Objectives of AllocationSamantha and Rashida are planning a trip to Padre Island, Texas, during spring break. Members of the var
enot [183]

Answer:

Increase in Motel cost = $10 per night for additional bed * 4 day = $10 * 4 = $40

Additional food cost = $150

Therefore, total cost of including Kallie for the trip is $40 + $150 = $190

1. Incremental Analysis

                                        Without K     With K    Incremental cost

Motel cost                         $580           $620            $40

Food                                  $300           $450            $150

Gas in total                        <u>$120</u>            <u>$120 </u>            <u>   -    </u>

Total Incremental cost     <u>$1,000</u>        <u>$1,190</u>          <u>$190</u>

It would cost $190 for Kallie to accompany along

2. Cost to Kallie using benefits received method

Particulars                            Amount

Motel ($580 + 40)/3             $206.67

Food                                      $150

Gas ($120/3)                          <u>$40        </u>

Total                                       <u>$396.67</u>

Thus, cost to Kallie using benefits received method would be $396.67.

3 0
3 years ago
Nadira stood outside the mall and asked people which stores they visited and if they bought anything. If they said yes, she aske
Lena [83]

Answer:

In-depth interview

Explanation:

Nadira is conducting a type of qualitative data collection called in-depth interview. In research methodology, in-depth interview is conducted by seeking information face to face from respondents. In some cases, it is done over call or mails for geographically dispersed population.

In case of face to face interview, questions can be asked based on the response from the audience, thereby obtaining in-depth information from them.

5 0
3 years ago
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