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aliya0001 [1]
3 years ago
13

Recently, much of the Western United States experienced drought conditions and water usage was restricted in Denver. Yet, even t

hough most people used less water, the price of water did not drop. When the drought was declared over, the water company raised water prices. However, the residents of Denver did not use less water. Here, water is:__________.
a. price insensitive.
b. price elastic.
c. price inelastic.
d. price sensitive.
e. unitary elastic.
Business
1 answer:
Savatey [412]3 years ago
8 0

Answer: Price inelastic.

Explanation:

In Denver as described in the question the demand for water is price inelastic as it doesn't change regardless of changes in price of water. An item is said to be price inelastic if the demand remains the same regardless of price rise or fall of that item.

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The new-product process starts with new-product strategy development. Place the steps that follow this one in order. (In other w
nalin [4]

Answer:

1. New-product strategy development.

2. Idea generation.

3. Screening and evaluation.

4. Business analysis.

5. Development.

6. Market testing.

7. Commercialization.

Explanation:

New product strategy is the first one as described and the remaining are briefed below:

Idea Generation: This steps creates the idea for how the product shall be created.

Screening and evaluation: This helps in evaluating the idea generated and comparing it with the practical manner.

Business Analysis aims at analyzing the business prospect of the new product.

Development is done once all of the above steps are in affirmation.

Market testing is done after the development about the market captured by the product or to be captured.

Commercialization basically aims at the proper introduction of the product in the market.

8 0
3 years ago
Why does the increased demand for more service make product management more difficult?
Rama09 [41]

Answer:

One of the hardest challenges in product management is getting people aligned—especially if they have different reporting lines and objectives. Here it helps to remember that our job is not to have all the answers—but to ask the best questions.

Explanation:

4 0
2 years ago
Read 2 more answers
You own a shoe store with a merchandise book value of $178,000. You conduct a physical inventory and find the value to be $169,0
lozanna [386]

Answer:

1.89%

Explanation:

The book value of the merchandise is  $178,000

Physical inventory reveals stock is worth $169,000

The shrinkage = $178,000 - $169,000

=$9000

As a percentage of sales, the shrinkage will be

=$9000/$476,000 x 100

=0.0189076 x 100

=1.89%

6 0
3 years ago
Aaron promises to sell his boat to Matt, and Matt promises to buy it from Aaron. What type of contract is this? Group of answer
Minchanka [31]

Answer: c. A bilateral contract

Explanation:

In a bilateral contract, the parties involved promise to both perform duties to the other which will make them both an obligor and an obligee.

An obligor is one who owes a duty to another and the obligee is one who a duty is owed to.

Aaron both owes a duty to sell the boat to Matt as well as being owed by Matt the duty to buy his boat. The same goes for Matt thus making this a bilateral contract.

5 0
3 years ago
The​ short-run aggregate supply curve slopes upward because of all of the following reasons except
ololo11 [35]

Answer:

B) in the short run, an unexpected change in the price of an important resource can change the cost to firms.

Explanation:

The short run aggregate supply (SRAS) curve is upward sloping because as the price of goods and services increases, the quantity supplied will increase. In the short run, wages are more sticky than prices, and businesses can adjust prices more rapidly than employees can get a raise. This will result in businesses increasing their profit margins as the general level of prices increases, therefore the SRAS curve will be upward sloping.

An unexpected change in the price of a key input will shift the entire SRAS curve either to the right (price of key input decreases) or to the left (price of key input increases).

3 0
3 years ago
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