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
Reil [10]
3 years ago
12

The Commerce Ministry of a country conducts regular surveys on goods and services sold within the country. Researchers at the Mi

nistry study consumer behavior through the choices the consumers make while deciding what to buy. Their report on the industry for beverages last year indicated that the price elasticity of demand for fruit juices in the country was​ -0.8, while the price elasticity of demand for a particular brand called Fruit Drops was​-1.2. According to the​ report, an average consumer spends about 1 percent of his monthly income on fruit juices. A student of​economics, Julio, however feels that the current price elasticity of demand for Fruit Drops is actually higher than​ -1.2, based on his own experience in purchasing fruit juices.   Which of the​following, if​ true, would support​ Julio's view that the price elasticity of demand for Fruit Drops is​ higher?A. The average income level of consumers has increased this year as compared to last year.B. The company that manufactures Fruit Drops also produces a variety of other goods.C. Three new brands have been introduced in the market for fruit juices in the last month.D. The management of one of the leading competitors of Fruit Drops was recently accused of manipulating profit figures.E. Fruit Drops is a very popular brand of fruit juice in this country.
Business
1 answer:
denpristay [2]3 years ago
6 0

Answer:

The correct option is C.

Explanation: Price elasticity is the measure of the rate of change in the level of quantity demanded due to a change in the level of price.

Price elasticity is usually negative, this means that it follows the law of demand; as price increases quantity demanded decreases.

Also, another incidence that can affect price elasticity is an availability of cheaper alternatives. If cheaper alternatives of a particular product are introduced into the market, the demand for that product will reduce, because consumers will abandon it for its cheaper alternatives, thereby driving the elasticity of that product higher.

Therefore, in the scenario given above, the elasticity is higher than -1.2 because there are new brands that have just been introduced into the market.

You might be interested in
One of the most dramatic changes in connectivity and communications in the past few years has been _______.
bekas [8.4K]

The right phrase to fill the blank is: widespread use of mobile devices with wireless internet connectivity.

This is one of the major changes that have occurred in recent years, where we no longer have to access internet from local area network connection which requires a cable for you to connect to the internet and a computer is no longer necessary to be able to use it as well.

5 0
3 years ago
There are three parts to an osha inspection what are they?
azamat

The three parts to an OSHA inspection includes below:

<span>1.      </span>The Opening conference

An opening conference is a short discussion wherein the inspector of OSHA will describe the inspection purpose.

<span>2.      </span>Walkaround

The walkaround is defined as the real-time inspection. The official from OSHA, accompanied by the applicable affiliate of the worksite, will visit the premises to check the working conditions if the employer is compliant with the requirement of OSHA and detect any violations if there’s any

<span>3.      </span>The Closing conference.

<span>During this conference, the inspector will have their conclusion in their walkaround. They will release any violations and hazards noted during their inspection.</span>

5 0
3 years ago
Read 2 more answers
Type the correct answer in the box. Spell all words correctly.
Blababa [14]

The ethical relativism principle represents that there is no means to identify between right and wrong in morality, while the moral relativism principle declares that there is no manner to differentiate between right and wrong in morality.

<h3>What is ethical and Moral relativism?</h3>

Morality is said to be relative to one's culture's norms, according to ethical relativism. To put it another way, the moral rules of the society in which a process is carried out decide whether it is proper or wrong.

A morally correct behavior in one civilization may be ethically incorrect in another.  Acceptance of a fact-value gap has driven most kinds of ethical non-cognitivism, such as moral relativism.

Moral relativism, unlike ethical non-cognitivism, does not deny that moral assertions can be true; rather, it denies that they can be made true by an objective, transcultural moral order.

Therefore, the ethical and Moral relativism are the correct answers of the given problem.

Learn more about the morality, refer to:

brainly.com/question/13324831

#SPJ1

8 0
2 years ago
One argument for the idea that customer demands for local customization are on the decline worldwide is that
PolarNik [594]

Answer: customer tastes have converged worldwide.

Explanation:

The options to the question are:

A. governments across the world are standardizing their legal procedures.

B. customer tastes have converged worldwide.

C. high costs of local customization are deterring companies from doing so.

D. managers worldwide ignore the differences in consumer tastes and preferences.

E. local and indigenous industries are increasingly filling up available demand

Local customisation is simply the implementation of creative ideas with a particular brand. argument for the idea that customer demands for local customization are on the decline worldwide is that customer tastes have converged worldwide.

8 0
3 years ago
Bass Accounting Services expects its accountants to work a total of 26 comma 000 direct labor hours per year. The​ company's est
Tomtit [17]

Answer:

C) $ 15.00 per hour

Explanation:

total labor hours 26,000 per year

total indirect costs $390,000

if the company allocates indirect costs according to labor hours employed, the cost allocation rate should be:

$390,000 / 26,000 = $15 per direct labor hour

This means that for every labor hour employed, $15 will be allocated as indirect costs, e.g. a client requires 50 labor hours per year and $750 (= 50 x $15) in indirect costs.

8 0
3 years ago
Read 2 more answers
Other questions:
  • Havermill Co. establishes a $330 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei
    8·1 answer
  • China is considered to have​ a(n) ________ culture.
    7·1 answer
  • Chelsea's house is for sale, and she is selling it through a real estate agent. The house is listed, and any licensed agent may
    10·1 answer
  • Informal organization suggests that cliques and other social groups can affect employee behavior.a. Trueb. False
    5·1 answer
  • Consider the following information about a simple country that produces two different goods: Year PriceMilk QuantityMilk Price C
    11·1 answer
  • Quidpro, a food and beverage company based in Germany, gets most of its sales from outside its home country. Its employees are s
    8·1 answer
  • You’re trying to save to buy a new $180,000 Ferrari. You have $29,000 today that can be invested at your bank. The bank pays 3.6
    8·1 answer
  • Quail, Inc., has a contribution margin of 40% and fixed costs of $121,840. What is the break-even point in sales dollars
    10·1 answer
  • suppose you are advising a mayoral candidate in your town. the candidate’s platform includes strong opposition to monopoly suppl
    8·1 answer
  • Customers must see value in a product or service before they are willing to exchange time or money to obtain it, but not all cus
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!