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
saveliy_v [14]
3 years ago
6

Jim saw a decrease in the quantity demanded for his firm's product from 8000 to 6000 units a week when he raised the price of th

e product from $200 to $250. Based on this information, the demand for Jim's product is a) Elastic b) Unitary elastic c) Inelastic d) Hard to determine
Business
1 answer:
Vadim26 [7]3 years ago
3 0

Answer:

The answer is A.

Explanation:

If a a product is price elastic that means it is sensitive to price. If there is an increase in price, the quantity demanded of that product will drop and if there is a decrease in price, the quantity demanded of that product will rise. Price elasticity has a value greater than one.

Because the price rose from $200 to $250, quantity demanded fell from 8000 units to 6,000 units.

If it were to be inelastic, the quantity demanded will not change or will change with very little percentage.

You might be interested in
Which of the following is NOT a common credit card fee?
MissTica
D Minimum payment fee
5 0
3 years ago
The manager of the student center cafeteria is introducing pizza as a menu item. The pizza is ordered frozen from a local pizza
olga2289 [7]

Answer:

From the information given, the number of pizzas is 450 pizzas.

Explanation:

If the cafeteria is open 45 wks a year and they anticipate 10 pizzas per week, then they need 450 pizzas.

45*10

4 0
3 years ago
The money the borrower pays for the use of the​ lender's money is called the​ ______.
lana [24]
Loaner

I hope this is right.
8 0
3 years ago
An employer can refuse to hire you if you refuse a drug screening test or background check.
Kruka [31]
Yes. this statement is true.
Why?
Because it is one of the Company's requirements to have a medical certificate before you can be deployed to their company.
If in case you will refuse to follow this order from them, they have all the authority to backout from hiring you to their comapany
8 0
3 years ago
Read 2 more answers
In periods of rising prices, the inventory method which results in the inventory value on the balance sheet that is closest to c
Yakvenalex [24]

Answer:

LIFO method

Explanation:

The last-in, first-out (LIFO) inventory method values the cost of goods sold (COGS) using the price of the last purchases made by the company. This valuation method is accepted by the US GAAP and it is generally applied when the replacement costs are continuously increasing.

On the other hand, the IFRS (the international accounting standard) does not allows LIFO, it only accepts FIFO.

8 0
4 years ago
Other questions:
  • You invest in various broadly diversified internatioWhich emerging country had the highest percentage growth in market capitaliz
    14·1 answer
  • Happy Trails, a bicycle rental company, is considering purchasing three additional bicycles. Each bicycle would cost them $249.6
    13·1 answer
  • Improving the general quality of life
    12·1 answer
  • In March 2015, Daniela Motor Financing (DMF), offered some securities for sale to the public. Under the terms of the deal, DMF p
    11·1 answer
  • The cost principle relates most closely to the ______.
    13·1 answer
  • Many managers describe performance appraisal as the responsibility that they like least. Why is this so? What could be done to i
    6·1 answer
  • Your restaurant revenue is $710,000, expenses total $890,000, and your total invest is $3 million what is your return investment
    11·1 answer
  • 406
    5·1 answer
  • Question 6 of 10
    8·1 answer
  • Suppose you bought a gm corporate bond on january 25, 2001 for $750, on january 25, 2004 sold it for $650.00. what was your annu
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!