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
Fed [463]
3 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]3 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]3 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:

You might be interested in
The Department of Labor’s Occupational Outlook Handbook is relatively expensive and not available for use by the general public.
denis23 [38]

Answer: false

Explanation: just got it right

4 0
2 years ago
To generate leads for new business, Gustin Investment Services offers free financial planning seminars at major hotels in Southw
larisa86 [58]

Answer:

See Explanation section

Explanation:

We know,

Profit = Sales - Expenses

To find the total seminar profit, we have to determine the number of newly opened accounts. As it is binomial distribution, we have to make an equation to reach out the seminar profit -

Therefore, the profit equation = (new opened account × Sales commission) - Fixed seminar costs

Since we do not know how many attended open account, the profit equation of seminar = (New open account × $5,300) - $3,700

6 0
3 years ago
Here is a question for you to practice your intuition... imagine a deluge in the city versus the forest. why does urbanization (
Serga [27]

The correct answer is B. Urbanization lowers the peak discharge of streams and decreases the lag time after a rainstorm.

4 0
3 years ago
"You plan on saving money for retirement in 30 years (t=30) at which time, you wish to have saved $1,000,000. In order to do thi
MissTica

Answer:

<u>X= $15,692.9393</u>

Explanation:

Giving the following information:

Number of years= 30

Final value= 1,000,000

First, deposit $10000 for ten years (last deposit at t=10).

After ten years, you deposit X for 20 years until t=30.

i= 6%

First, we need to calculate the final value in t=10. We are going to use the following formula:

FV= {A*[(1+i)^t-1]}/i

FV= {10000*[(1.06^10)-1]}/0.06= $131807.9494

We can calculate the amount of money to input every year. We need to isolate A:

A= (FV*i)/[(1+i)^n-1]

First, we need to calculate the final value of the $131807.9494

FV= PV*[(1+i)^n]

FV= 131807.9494*1.06)^20= 422725.95

We need (1000000-4227725.95) $577274.05 to reache $1000000

A= (FV*i)/[(1+i)^n-1]

A= (577274.05*0.06)/[(1.06^20)-1]= 15692.9393

<u>X= $15,692.9393</u>

6 0
3 years ago
What is your employer required to have on fixed ladders that extend more than 24 feet in the workplace?
Dmitriy789 [7]

Answer:

B. Ladder safety or personal fall arrest systems

Explanation:

Under the provisions of OSHA laws, where the total length of a climb equals or is greater than 24 feet or 7.3 meters,  ladders must be equipped with one of the following safety devices.

  1. ladder safety devices
  2. Self-retracting lifelines, and rest platforms at intervals not to exceed 150 feet (45.7 m)
  3. A cage or well and multiple ladder sections with each ladder section not to exceed 50 feet (15.2 m) in length.

The safety devices are cautionary provisions to protect a climber should the unexpected happen.To ascend a height of 24 feet and more is exhausting, which poses a risk. The climber may feel dizzy or develop height phobia due to exhaustion.

5 0
3 years ago
Other questions:
  • Shahia Company bought a building for $88,000 cash and the land on which it was located for $117,000 cash. The company paid trans
    11·1 answer
  • Assume that demand for a commodity is represented by the equation P=10−0.2Qd. Supply is represented by the equation P=2+0.2Qs, w
    11·1 answer
  • A good reason to open a checking account is that
    14·1 answer
  • Financial accounting should provide information that:_______.
    13·1 answer
  • Which of the following is an unethical behavior for a salesperson?
    15·2 answers
  • Structural unemployment Multiple Choice is also known as frictional unemployment. is the main component of cyclical unemployment
    12·1 answer
  • Which of the following is an example of a positive-sum game?A. Working with someone to build a house. B. A war between two count
    6·1 answer
  • What are the portfolio weights for a portfolio that has 122 shares of Stock A that sell for $32 per share and 102 shares of Stoc
    14·1 answer
  • A fee-for-service plan is an insurance plan that pays their share of covered_____ ______
    15·1 answer
  • What is the importance of the Transportation sector in the Tourism Industry and it's impact to other industries ?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!