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
AYO BRAINLY
kvv77 [185]

True. I would say they have a central message. Effective presentations are: Colorful and exciting Created for a specific audience Have many messages Have a central message Are influence by a setting

5 0
2 years ago
When a complaint is lodged, or when inappropriate activity is brought to the attention of management, the manager should wait to
Natali [406]

Answer:

False

Explanation:

Manager should start investigation as soon as complaint is brought to his notice. He must not wait for the charge to be proven. He should be the one taking lead on the investigation and responsible for investigation. And after investigation if charge is proven then he is supposed to apply penalty according to company's policy. And if not proven then talk to individual who brought the charge and give them proof.

7 0
2 years ago
Choose the correct statement.
Natasha2012 [34]

Answer:

D.All of the above are correct.

Explanation:

Moral hazard is when people have an incentive to engage in risky behaviours when the person is protected against the consequences of such risky behaviour. Moral hazard can arise in health insurance because once​ insured, a person has less incentive to adopt a healthy lifestyle.

Adverse selection occurs due to asymmetry of information; when one party in a transaction has more information than the other party. An example of adverse selection In insurance - people who have dangerous jobs are more likely to purchase insurance when compared with people with relatively safer jobs. Adverse selection in health insurance is when healthiest people choose to be​ uninsured, at least during their younger years and become insured when they are getting older and more sickly.

I hope my answer helps you.

3 0
2 years ago
Hunter Sailing Company exchanged an old sailboat for a new one. The old sailboat had a cost of $210,000 and accumulated deprecia
dezoksy [38]

Answer: Gain of $12,000

Explanation:

First off, what was the Net book value of the old sailboat?

= Cost Price - Accumulated Depreciation

= 210,000 - 84,000

= $126,000

They paid $101,000 in cash and received a trade in allowance of $138,000 bringing the value to $239,000.

What they should have received as the trade in allowance was the NBV of $126,000. Since they didn't they got a gain of,

= 138,000 - 126,000

= $12,000

Because this transaction has commercial substance, the gain would be $12,000.

6 0
2 years ago
Substitution and income effects of a change in price of a good may be used to explain the:
kodGreya [7K]

Answer: Option A  

   

Explanation: In simple words, substitution effect refers to the economic phenomenon which states that when price of one good rises the demand for the alternative of that particular good also rises. For example - coke and pepsi.

On the other hand, income effect states that when the price of a commodity rises, a number of consumers might find it hard to purchase due to the price exceeding their income power which further results in lower demand.

Hence from the above we can conclude that the correct option is A.

6 0
3 years ago
Other questions:
  • True or false: by bundling the two books together, book bound can force bookstores to pay more than they would be willing to pay
    12·1 answer
  • Machinery was purchased for $500000 on January 1, 2022. Freight charges amounted to $13000 and there was a cost of $32000 for bu
    14·1 answer
  • George owed keith $800 on a personal loan. neither the amount of the debt nor george's liability to pay the $800 was disputed. k
    7·1 answer
  • Fourteen Company issued $10,000,000 of 8% bonds on January 1, 2015. The bonds pay interest on June 30 and December 31, mature on
    6·1 answer
  • Araceli is a team member in a large corporation. She never speaks in team meetings because she has seen members talk behind each
    7·1 answer
  • An accountant is engaged to perform compilation services for a new client in an industry with which the accountant has no previo
    8·1 answer
  • Swifty, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, 50 range instruments
    9·1 answer
  • 1
    13·1 answer
  • Which model is the oldest and most common technique of differentiating information systems?
    5·1 answer
  • Assume that Seiden Company gains control of Rimco, its subsidiary, with the purchase of a 40% interest paid in cash. The Equity
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!