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SCORPION-xisa [38]
4 years ago
7

Two goods, wool socks and shaved ice, have a cross price elasticity of demand equal to 0.4. Given this information, what can you

tell about the nature of the relationship between these two goods?
Business
1 answer:
zhannawk [14.2K]4 years ago
8 0

0.4 cross price elasticity of demand means that there is direct effect of change of price of wool socks on the demand of shaved ice but they are not very closely related to each other.

<u>Explanation:</u>

Cross Price elasticity of demand is the concept in Economics which focuses on the effect of change of price of one good leading to the change of the demand of the other good, but in this matter, the other things have to kept the same which is also known as ceteris paribus.

For example when the price of coffee increases, the demand of tea will increase because the people will start preferring to have tea because of the increase in the price of coffee.

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andreev551 [17]

Answer:

True

Explanation:

The process model is a model that represents the work flow for achieving the company goals and objectives

In the process model, the effectiveness of an organization would be portrayed by the conflict that occurs internally. It could be the situation when the flow of the information is in a horizontal way and in a vertical way and the functioning of the operations internally is quite smooth and works with trust towards individuals

Therefore the given statement is true

8 0
3 years ago
explain the effect of a price ceiling on the quantity of a good and who this intervention intends to assist.
UkoKoshka [18]
A price ceiling is the maximum price a company is allowed to charge for that good. This is intended to assist the consumers so that they would not have to be an insane amount for a product.
8 0
3 years ago
In which market structure can consumers most easily find substitutes?
svetoff [14.1K]
I think it's market with multiple trading partners.

If we only have one trading partner, we will not be able to fulfill our daily intakes for a certain resoure if somehow the stock is unavailable or the trading relation is ended.
If we have multiple trading partners, we just need to find that specific resources from other partners
5 0
4 years ago
Which rehearsal is used to determine how a subordinate leader intends to accomplish the mission?
Nina [5.8K]
The rehearsal used to determine how a subordinate leader intends to accomplish the mission is called back brief (and also briefback).
It refers to the fact that often people don't understand their instructions correctly and they misinterpret them. This is why they will have to repeat their instructions to the person who actually sent them, and the sender will determine whether they understood their instructions correctly or not.
4 0
4 years ago
The three most widely recognized types of consumer decision making are:A) limited problem solving, extended problem solving, and
Zielflug [23.3K]

Answer:

The correct answer is (A)

Explanation:

The three most effective and recognised consumer problem-solving methods are extended problem solving, limited problem solving, and routine response behaviour. Extended problem and limited problem-solving methods help to identify the best products and provide information to the customer regarding a product and a brand. Meanwhile, routine problem response behaviour helps to choose products and services which are common and require little decision-making effort.

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