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]
4 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]4 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
Business activity monitoring called
katrin [286]

Answer:

Business activity monitoring called  uses to make  decisions about the operation of the business?

key performance indicators

Explanation:

Business monitoring is a key performance indicator which helps to grow any business entity, it improves the business in such a way that lapses would be discovered and be totally corrected.

5 0
3 years ago
Greg Knowles owns a business, Clean and Paint. Clean and Paint has 47 employees, equipment worth $350,000, and signed contracts
svetlana [45]

Answer:

D. "The business could be liquidated or continued by Greg's heirs"

4 0
3 years ago
according to the midpoint method, the price elasticity of demand for oranges between point x and point y is approximately0.05 ,
Shtirlitz [24]

Yes According to the Mid Point Method The degree to which customers are receptive to price changes is gauged by their price elasticity of demand.

<u>WORKING OF MID POINT METHOD</u>

Demand is considered to be elastic if consumer behaviour changes significantly in reaction to a minor change in price, as opposed to inelastic if customers alter their purchasing behaviour very little in response to a large change in price.

  • The percentage change in quantity subtracted from the percentage change in price represents the price elasticity of demand. The following formula may be used to calculate the percentage change in the number of oranges requested in this area using the midpoint method:

To learn more about Mid Point Method, Click the links

brainly.com/question/27961894

#SPJ4

4 0
2 years ago
Sprint Planning is the only occasion where the Development Team estimates the Product Backlog Items A. True, because without est
Amanda [17]

Answer:

true

Explanation:

8 0
3 years ago
A 12-ounce beer with an alcohol content of 5% would have a proof of __________ .
Vera_Pavlovna [14]
Alcohol proof is a measure how much of alcohol ( or ethanol ) is contained in a beer ( same as wine, whiskey, etc ). In the US, alcoholic proof is defined as twice the percentage ( in the UK percentage times 1.75 ).Therefore:  5 * 2 = 10  ( or:  5 * 1.75 = 8.75 ).Answer: It would have a proof of 10. 

3 0
3 years ago
Other questions:
  • Allied Cosmos, a cosmetics company, decides to expand its operations to lower-income areas in developing countries. It starts to
    10·1 answer
  • Mary martin earns a gross salary of $2,000 per month. state unemployment insurance of $90 is withheld from each of her monthly c
    15·1 answer
  • ABC Company received $9,631 for its 5-year, 10% bonds with a total face value of $10,000. The market rate of interest was 11%. T
    6·1 answer
  • How long does it take to be an immigration lawyer and what’s the average salary?
    15·2 answers
  • The Framework Company refurbishes antique French purses with silk, satin, and jade trimmings. The bags are its only product. The
    15·1 answer
  • A product is considered to be rivalrous if your consumption of the product reduces the quantity available for others to consume.
    11·2 answers
  • Klein Company issues a four-year note in exchange for a license agreement with fair value of $100,000. The contract requires pay
    9·1 answer
  • Suppose that business travelers and vacationers have the following demand for airline
    13·1 answer
  • There are only benefits of branding. No drawbacks exist.<br> true<br> false
    15·2 answers
  • You have set up an appointment for an in-home sales presentation with mrs. Fernandez, who expressed interest in the medicare pla
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!