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Fed [463]
4 years ago
6

When demand for a product changes because of its price, this product is said to be elastic.

Business
2 answers:
atroni [7]4 years ago
8 0

The answer is True

Explanation:

The demand for a product refers to the customers' desire or willingness to pay for it. In some cases the demand is affected by the price or a product, while in others the demand is stable, this factor is known as elasticity. According to the elasticity concept, a product is elastic if changes in its price lead to changes in its demand.

For example, cars are an elastic product because if prices of cars are low, there are more possible buyers and the demand increase; at the same time, if the price increases many people would abstain from buying a car and the demand would fall. Thus, it is true the product is elastic "When demand for a product changes because of its price".

IgorC [24]4 years ago
4 0

Answer:

When PED is greater than one, demand is elastic. This can be interpreted as consumers being very sensitive to changes in price: a 1% increase in price will lead to a drop in quantity demanded of more than 1%. When PED is less than one, demand is inelastic.

so it is true

Explanation:

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Which office annually evaluates agency efforts to improve the quality and usefulness if information technology investments reque
Sati [7]

Answer:

The correct answer is:  The Federal Information Technology Acquisition Reform Act.

Explanation:

The Federal Information Technology Acquisition Reform Act or FITARA has the mission of optimizing the use and purchase of information technology of the United States federal government. This act was necessary to be passed because the U.S. federal government spends approximately $80 billion per year in information technology products but half of those funds go for maintenance.

4 0
3 years ago
Why is it important for managers to pay close attention to their organization’s production system if they wish to be responsive
Marina86 [1]

Explanation:

The production system consists of all integrated activities and operations for the production of goods and services.

Organizational capacity is measured by the set of effective actions of coordination and control of the production system. Therefore, active management of systems monitoring will determine key factors for better meeting consumer demands and needs through continuous improvement in the quality of manufacturing processes, innovations, reduction of waste and unnecessary spending, which enables greater transfer to the customer a product with quality and low cost and represents for the organization gains of competitive and strategic advantages.

8 0
3 years ago
Suppose you own 500,000 shares of common stock in a firm with 40 million total shares outstanding. The firm announces a plan to
Roman55 [17]

Answer:

62,500 shares

Explanation:

common stock = 500,000 shares

Total shares outstanding = 40 million

Percentage of existing holding:

= (Shares of common stock ÷ Total shares outstanding) × 100

= (500,000 ÷ 40,000,000) × 100

= 1.25%

New shares that can be purchased:

= Number of new shares sold × Percentage of existing holding

= 5 million × 1.25%

= 62,500 shares

6 0
3 years ago
$50,000 in cash values more than $50,000 on a cheque. <br> True<br> False
MAVERICK [17]
True, a check can bounce so cash is more appealing
6 0
2 years ago
Piedmont Company's gross salaries and wages are $32,000, and it withholds $4,800 for income taxes and $2,448 for FICA taxes, the
suter [353]

Answer: d. credit to Salaries and Wages Payable for $24,752.

Explanation:

Salaries and Wages payable are calculated by deducting taxes from the gross salaries and wages.

= 32,000 - 4,800 - 2,448

= $24,752

Salaries and Wages Payable will be credited $24,752 to reflect that this amount is owed to employees.

7 0
3 years ago
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