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
VikaD [51]
3 years ago
9

If the price of good X rises and the demand for good X is elastic, then the percentage __________ in quantity demanded is ______

____ the percentage rise in price, and total revenue __________.a. fall; greater than; risesb. fall; less than; fallsc. fall; equal to; remains constantd. rise; greater than; fallse. fall; greater than; falls
Business
1 answer:
Ira Lisetskai [31]3 years ago
8 0

Answer:

e. fall; greater than; falls

Explanation:

Demand is price elastic if a small change in price has a greater effect on the quantity demanded. The coefficient of elasticity is usually greater than one which indicates that the percentage change in quantity demanded is greater than the percentage change in price.

Elasticity of demand = percentage change in quantity demanded/ percentage change in price

If demand is elastic, an increase in price leads to a fall in quantity demanded and total revenue falls.

I hope my answer helps you

You might be interested in
Parts of the retail industry in which a small number of businesses control a large portion of the market represent __________.
solniwko [45]

The answer to your question is "Oligopolies."

An oligopoly is a market form where a market is controlled by a few large sellers or businesses.  The type of market is going to effect the price in one of two ways.  The first possibility is that the few businesses will work together, or collude, in order to establish higher than normal prices.  The second possibility is that there will be fierce competition between the few sellers, which will result in a high level of competition and lower prices.

8 0
3 years ago
The required reserve ratio is 0.05. If the Federal Reserve buys​ $1,000,000 worth of bonds from a bond dealer who has her accoun
Radda [10]

Missing information:

total deposits in bank XYZ = $4,000,000

total reserves = $3,800,000

Answer:

the required reserve = $250,000

excess reserves = $4,550,000

Explanation:

required reserve ratio = 5%

the Fed buys $1,000,000 worth of bonds

the $1,000,000 are deposited entirely in bank XYZ

total checkable deposits will increase to $5,000,000

the required reserve = $5,000,000 x 5% = $250,000

excess reserves = total checkable deposits - total loans - required reserves = $5,000,000 - $200,000 - $250,000 = $4,550,000

5 0
3 years ago
A company reported that its bonds with a par value of $50,000 and a carrying value of $59,000 are retired for $62,400 cash, resu
oee [108]

Answer:

The answer is ($62,400)

Explanation:

Cash flow only deals with cash. Statement of Cash flow is one of the three Financial statements and this records ONLY the cash that is coming in and out of the business

The company coughed out $62,400 cash. This is the money that will be recorded under cash flows from financing activities and not the $59,000.

So the narration will be:

Cash for retiring bonds.......($62,400)

4 0
2 years ago
You've arrived at the Pecan Shellers conference—your first networking opportunity. Naturally, you're feeling nervous, but to avo
olga55 [171]
D. Square your shoulders before entering the room.
4 0
2 years ago
Corporation a owns 15 percent of the stock of corporation
Liono4ka [1.6K]
B-$30,000 of ordinary income.
3 0
3 years ago
Other questions:
  • How do we track stock market performance?
    7·2 answers
  • Which jobs would be included in the Marketing, Sales, and Service career cluster?
    8·1 answer
  • The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July 1 Beginning Inventory 40 $ 10
    9·1 answer
  • Below are various states of financial distress: 1. defaulting on a principal payment on debt 2. restructuring debt 3. liquidatin
    9·1 answer
  • ______________ are enacted when discontented sellers, feeling that prices are too low,appeal to legislators to keep prices from
    7·1 answer
  • How does the Federal Reserve achieve these goals?
    5·2 answers
  • Hiro sells building materials to local contractors. He wants to build longterm relationships with his contractors through effect
    5·1 answer
  • If Patty Shoemaker estimates that her $400 weekly grocery bill will increase at an annual inflation rate of 5%, what should her
    13·1 answer
  • Compare and contrast the three options from the perspective of cost. Which one do you believe will provide the most economical s
    12·1 answer
  • The daily cost of producing pizza in New Haven is C(Q) = 4Q + (Q2/40); the marginal cost is MC = 4 + (Q/20). There are no avoida
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!