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Fed [463]
3 years ago
10

Which of the following prices is most elastic?

Business
1 answer:
mamaluj [8]3 years ago
5 0
An elastic products prices are responsive to changes in demand. Generally, the necessity of the product is related to it's elasticity. For example, insulin is essential for diabetics, so the price is extremely inelastic—people will pay any amount because it is a life or death situation. The price of a new MP3 player can be inelastic, especially because results show that people want the newest thing, and will pay more if it works better than the previous model. Additionally, the price of "scalper" tickers to the World Series will increase by demand, but they will still sell regardless. The price of dairy products, however, is rather elastic; this is because when the price rises, people switch to a cheaper brand.  The difference between an inelastic and elastic product is that elastic products have substitutes, whereas inelastic products have no substitutes (or sometimes very few).

Answer: A. the price of dairy products

hope this helps :)
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Suppose a new standardized test is given to 99 randomly selected​ third-grade students in New Jersey. The sample average score U
IgorLugansk [536]

Answer:

(a) 95% confidence interval for the mean score of all New Jersey third graders is (53.01, 56.99)

(b) 90% confidence interval for the difference in mean scores between lowa and New Jersey is (3.71, 4.29)

Explanation:

Confidence Interval = mean + or - Error margin (E)

(a) New Jersey

mean = 55

sd = 10

n = 99

degree of freedom = n - 1 = 99 - 1 = 98

Confidence level (C) = 95% = 0.95

Significance level = 1 - C = 1 - 0.95 = 0.05 = 5%

t-value corresponding to 98 degrees of freedom and 5% significance level is 1.9846

E = t×sd/√n = 1.9846×10/√99 = 1.99

Lower limit = mean - E = 55 - 1.99 = 53.01

Upper limit = mean + E = 55 + 1.99 = (56.99)

95% confidence interval is between 53.01 and 56.99.

(b) Lowa

mean = 59

sd = 13

n = 198

Difference in mean between Lowa and New Jersey = 59 - 55 = 4

Difference in sd between Lowa and New Jersey = 13 - 10 = 3

degree of freedom = n1 + n2 - 2 = 99 + 198 - 2 = 295

Confidence level = 90%

Significance level = 10%

t-value corresponding to 295 degrees of freedom and 10% confidence interval is 1.65312

E = t×sd/√n = 1.65312×3/√297 = 0.29

Lower limit = mean - E = 4 - 0.29 = 3.71

Upper limit = mean + E = 4 + 0.29 = 4.29

90% confidence interval is between 3.71 and 4.29

5 0
3 years ago
The Thunder Dan's Corporation's purchases from suppliers in a quarter are equal to 65 percent of the next quarter's forecasted s
stealth61 [152]

Answer:

Total disbursement for Q2 $579,43‬

Explanation:

We will assume the sales are purchase are uniform during the year.

therefore days 1-30 sales are paid within the quarter

and day 31 to 90 are paid the next quarter:

Q1:

Purchase for Q2 x 65% = 660 x 65% = 429

Q2:

dividends = 60 dollars

wages taxes and other 660 x 16% = 105.6‬

<u>payment to suppliers</u>

remainder of next quarter:

660 x 65% x 2/3 =286

payment of this quarter purchase:

590 x 65% x 1/3 = 383,5 x 1/3 = 127,83

Total disbursements:

60 + 105.6 + 286 + 127.83 = 579,43‬

5 0
4 years ago
An entrepreneur takes a risk to create a new product or a better way to operate a business (true.false?)
saw5 [17]
That is true. Hope it helps :)
7 0
3 years ago
Start by clearly defining your topic with a thesis
ahrayia [7]

Answer:

When viewed and analyzed together, economic indicators and market indexes can provide a clear picture of economic growth.

Explanation:

i just did it on edg 2020

8 0
3 years ago
A preferred stock will pay a dividend of $1.25 in the upcoming year and every year thereafter; i.e., dividends are not expected
nignag [31]

Answer:

$10.42

Explanation:

The computation of the intrinsic value of this preferred stock using the DDM method is shown below:

= Annual dividend ÷ required rate of return

where,

The Annual dividend is $1.25

And, the required rate of return is 12%

Now placing these values to the above formula,

So, the intrinsic value of the preferred stock is

= $1.25 ÷ 0.12

= $10.42

Hence, the second option is correct

8 0
3 years ago
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