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xz_007 [3.2K]
3 years ago
6

Which of the following statements about the consumers’ responses to rising gasoline prices is correct?a. Because gasoline is a n

ecessity, consumers do not decrease their quantity demanded in either the short run or the long run.b. Consumers react to a 10% increase in price with about a 10% decrease in quantity demanded in both the short run and long run.c. Consumers decrease their quantity demanded more in the short run than in the long run.d. Consumers decrease their quantity demanded more in the long run than in the short run.
Business
1 answer:
s2008m [1.1K]3 years ago
7 0

Answer:

Option (d) is correct.

Explanation:

Gasoline is a normal good for the consumers. So, if there is an increase in the price of gasoline then as a quantity demanded for gasoline decreases.

Also, quantity demanded for gasoline decreases more in long run than in the short run, this is due to the elasticity of the demand curve. As we know that demand curve for gasoline is more elastic in the long run as compared to the short run.

If the demand curve is more elastic then a little change in the price of a commodity or a good tends to large change in the quantity demanded for that good.

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Financial measures are the sole means for making management decisions. T/F
makkiz [27]

Answer:

False

Explanation:

Management decisions are based on multiple variables. Here, by variables we mean that internal and external factors. These can be any.

When making management decisions only financial measures are not present, rather measures for human resource, measures for production, measures for customer relations, measures for performance are all related to management decisions.

Now that depends on the kind of decision a management wants to take, it not necessarily relates to financial measures every-time.

Thus, the above stated statement is false.

8 0
3 years ago
According to your Markel text, which of the following statements is true?a. Memos are commonly written to people outside your ow
mezya [45]

Answer: The correct answer is

b. Memos are commonly written to people within your own organization.

Explanation: Memos are written form of communication in a formal setting. They are written to people within the same organisation.

Memos contain a 'from' and 'to' headings as well as a subject. This helps give the receiver a clear picture of the purpose of the communication as often times the reader skims through the memo to get a clue of the content.

3 0
4 years ago
A commercial bank has $100 million in checkable-deposit liabilities and $12 million in actual reserves. The required reserve rat
Iteru [2.4K]
Given:
Checkable deposit = $100 million
actual reserves = $12 million
required reserve ratio = 10%

100 million * 10% = 10 million
10 million - 12 million = 2 million excess reserves

D.) $2 million is the bank's excess reserves
3 0
4 years ago
What retirement plans rely on the power of compound
Julli [10]
The plans are that when you retire they would put your money in your accont give you a medical plan and split things equaly wend you die but they would split it up to your wife and kids plz mark brainliest and give thans
5 0
4 years ago
The manager reported the following information: Budgeted total direct-labor costs $14,000,000 Budgeted total indirect-labor cost
Vinil7 [7]

Answer:

budgeted direct-labor rate= $700 per direct labor hour

Explanation:

Giving the following information:

Budgeted total direct-labor costs $14,000,000

Budgeted total direct-labor hours 200,000

To determine the direct-labor cost rate, we need to use the following formula:

budgeted direct-labor rate= total amount of direct labor cost/ total amount of direct labor hours

budgeted direct-labor rate= 14,000,000/200,000= $700 per direct labor hour

8 0
3 years ago
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