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Vedmedyk [2.9K]
3 years ago
12

Many new restaurants have opened in Collegetown in recent years. Given this change in supply, what type of demand would result i

n a larger drop in prices for restaurant meals?
Business
2 answers:
Karolina [17]3 years ago
8 0

The answer is : Elastic Demand. The elasticity of demand shows the responsiveness of the quantity demanded to the change in price. An elastic demand means that the demand is affected by changes in price. While an inelastic demand means that the supply is not affected by changes in price at all.

Alexeev081 [22]3 years ago
8 0

Answer: Elastic supply

Explanation: since many new restaurants have opened in College town in recent years, this will have a direct impact on supply. Elastic type of demand would result in a larger drop in prices for restaurant meals this is because in elastic demand when the price changes by a small ratio the quantity demanded changes by a larger ratio. Hence when there will be a large number of restaurants, they will engage in price competition.  


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When the cross price elasticity between good X and other related goods is positive and very low firm X can be assumed to have?
geniusboy [140]

Answer:

c. a significant amount of market power 

Explanation:

Cross price elasticity measures the responsiveness of quantity demanded of a good to the changes in price of another good.

If the cross price elascitiy is postive, the goods are subsituites.

If the cross price elasticity is negative, the goods are complementary goods.

If the cross price elasticitiy is low the firm has market power. It means that it's consumers do not change the quantity demanded when the price of the good changes

If the cross price elasticitiy is high, the market has low market power.

I hope my answer helps you.

3 0
3 years ago
What Human Resource Management activities were illustrated by Sam’s schedule in the Application Case?
lesya692 [45]

Explanation:

First we need to understand what activities are performed by human resource management. They are:

  • HR Development
  • Relationship with employees
  • Compensation and benefits
  • Cheers
  • Safety
  • Equal Employment Opportunities
  • staffing
  • Strategic HR Management

According to the text, none of these activities were performed by Sam on that particular day. What we can analyze is that during the working day, there were some situations that distracted Sam and prevented him from performing tasks efficiently.

He did not know how to properly manage the time to carry out the proposed activities, which were attempts to execute projects and priority by the integration of the objective management program (MBO), but the plans were never put into action by Sam, because he did not. there was no procedure for conflict resolution at work and did not share your work

with his subordinates in the company.

6 0
3 years ago
Governments at the federal, state and local levels enact laws that influence consumer behavior in all of the following ways, exc
Crazy boy [7]

All of the following ways that consumer behavior is influenced by laws that are passed by federal, state, and municipal governments, with the exception of, providing incentives to purchase specific brands over others.

<h3>What are the many governmental levels?</h3>

The federal government, state governments, and municipal governments are the three tiers of governance in the United States.

The U.S. Constitution grants Congress, the President, and the Federal courts, respectively, the authority to act as the legislative, executive, and judicial departments of the federal government. Three branches make up the federal government, which is the main and highest level of government in the US.

The first tier or level of democratic government is the Panchayati Raj system. Since the members of the Gram Sabha chose the Panch and the Gram Panchayat, they are accountable to the Gram Sabha.

To learn more about governmental levels, refer to?

brainly.com/question/9261004

#SPJ4

5 0
1 year ago
The statement "Automobiles manufactured by this brand are the safest" is an example of the _____ component of attitude.
QveST [7]

Answer:

cognitions

Explanation:

The cognitions component of attitude refers to the opinion a person has about an object. According to this, the answer is that the statement "Automobiles manufactured by this brand are the safest" is an example of the cognitions component of attitude as the sentence shows the belief the person has about that brand.

8 0
3 years ago
Jack is a 74-year-old, single taxpayer whose income consists of $10,000 in wages and $31,000 in social security benefits. The ma
Lapatulllka [165]

Based on his age and income, the maximum that Jack is able to contribute to a Roth IRA in 2019 is <u>C. 7,000.</u>

In the year 2019, tax laws were such that:

  • $6,000 was the maximum to be contributed to Roth IRA.
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As Jack is above the age of 50, he can contribute an extra $1,000 over the limit which puts him at:

= 6,000 + 1,000

= $7,000

In conclusion, Jack can contribute a maximum of $7,000.

Find out more on Roth IRA at brainly.com/question/1300867.

4 0
2 years ago
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