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
Nimfa-mama [501]
3 years ago
5

Demand for a good is said to be inelastic if the quantity demanded increases substantially when the price falls by a large amoun

t. True or false?
Business
1 answer:
g100num [7]3 years ago
7 0

Answer:

This is a false statement.

Explanation:

Price has certain effect on the demand of a product.

An increase in price may lead to higher demand while an decrease in price may lead to lower demand.

The increase or decrease in demand following the fall or rise in price varying amount different products.

Product demand is said to be elastic when a change in price has relatively big effect in the demand while it is said to be inelastic when a change in price lead to little change in demand of a product.

As a result, the statement quote in the question is false. Demand for a good should be said to be elastic instead given the quantity demanded increases substantially when the price falls by a large amount.

You might be interested in
If Crusoe increases production of berries from 42.0 pounds to 52.0 pounds and production is​ efficient, his opportunity cost of
sergeinik [125]

Crusoe's opportunity cost for producing a pound of berries would be 0.4 pounds of fish.

<h3>What is the opportunity cost of the fish?</h3>

This can be found as:

= Change in quantity of fish / Change in quantity of berries

Solving gives:

= (30 - 26) / 52 - 42

= 4 / 10

= 0.4 pounds of fish

Find out more on opportunity cost at brainly.com/question/1549591.

#SPJ1

3 0
2 years ago
Universal finance has segmented its customer base into two categories: high wealth and retirement. high wealth accounts should b
kap26 [50]

In the scenario in which the segmentation of the customer base is in two categories: high wealth and retirement. A system administrator can make the differentiation high wealth accounts to be visible to high wealth sales team members and retirement accounts should be visible to all sales user, by setting the organization-wide default sharing to private and create a sharing rule to share Retirement accounts with all Sales users.

7 0
3 years ago
What is digital citizenship?
lesya [120]
Digital citizenship<span> can be defined as the norms of appropriate, responsible behavior with regard to technology use. 1. </span>Digital<span> Access: full electronic participation in society. Technology users need to be aware that not everyone has the same opportunities when it comes to technology.</span>
4 0
3 years ago
In the late 1960s and the early 1970s, the ___________ and the __________ attempted to resolve the dispute by agreeing to severa
11Alexandr11 [23.1K]

Answer:

In the late 1960s and the early 1970s, the _texas bar association_ and the _texas association of realtors_ attempted to resolve the dispute by agreeing to several earnest money contracts that would be acceptable for real estate practitioners to use in their daily business.

Explanation:

(Texas Bar) is a judicial body which is under the Supreme Court's administrative control. They shall assist the Texas Supreme Court with the supervision of all lawyers in Texas. It is America's fifth largest lawyer group.

The association of realtors is an organised group that protects the rights of realtors and also lays down some ground rules for all realtors to abide.

7 0
3 years ago
A warehouse manager who is placing an order for maintenance supplies for delivery vehicles would be making a programmed decision
liubo4ka [24]

Answer:

The Answer is False.

<u>The Ware house manager  who is placing an order for maintenance supplies for delivery vehicles would be making a non-Programmed decision</u>

Explanation:

<u>non-programmed decisions are the decision are basically concerned with the  maintenance supplies for  raw materials.</u>

<u></u>

<u>The Programmed decisions are made in response to situations that are unique,unpredictable  and that are largely  unstructured.</u>

6 0
3 years ago
Other questions:
  • business buying often involves long-term relationships with suppliers. How does this affect buying behavior​
    6·2 answers
  • When revising a budget, it is important to make choices that allow you to continue<br> money.
    10·1 answer
  • On January 1, 2021, Red Flash Photography had the following balances: Cash, $19,000; Supplies, $8,700; Land, $67,000; Deferred R
    5·1 answer
  • Mica buys "Nature," a movie, through Open View, an online entertainment vendor. Before completing the purchase and downloading "
    6·1 answer
  • Crandle Manufacturers Inc. is approached by a potential customer to fulfill a oneminustimeminusonly special order for a product
    7·1 answer
  • Presented below is net asset information related to the Marin Division of Santana, Inc.MARIN DIVISIONNET ASSETSAS OF DECEMBER 31
    12·1 answer
  • A gas station with only one gas pump employs the following policy: If a customer has to wait to buy the gasoline, the price is $
    9·1 answer
  • On April 1, 2017, La Presa Company sells some equipment for $18,000. The original cost was $50,000, the estimated salvage value
    13·2 answers
  • Sell or Process Further Port Allen Chemical Company processes raw material D into joint products E and F. Raw material D costs $
    7·1 answer
  • A(n) ______ is a network that links the intranets of business partners via the Internet in such a way that the result is a virtu
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!