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Simora [160]
3 years ago
8

Economists use elasticity to measure the responsiveness of quantity to a change in price rather than the slope of the demand cur

ve because elasticity is g
Business
1 answer:
kifflom [539]3 years ago
5 0

Answer:

Elasticity is independent of the units of measurement.

Explanation:

Elasticity in economics, is a term that describes the measurement of the percentage change of one economic variable in response to a change in another economic variable.

Unlike the slope of the demand curve which measures the steepness or flatness of a line in terms of the measurement units for price and quantity. Elasticity on the other hand, has the advantage of being a unitless ratio, independent of the type of quantities being varied, which in turn simplifies data analysis.

Hence, Economists use elasticity to measure the responsiveness of quantity to a change in price rather than the slope of the demand curve because elasticity is independent of the units of measurement

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16. Demographics are
ZanzabumX [31]

Answer:

statistical data relating to the population and particular groups within it.

Explanation:

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7 0
3 years ago
Compare and contrast the role of management, as reflected by management theory, in the 20thcentury organization with the role of
Alexxx [7]
Do it yourself this gets you no where im sorry
3 0
3 years ago
Consider the relative liquidity of the following assets: Assets 1. A $50 bill 2. The funds in a savings account 3. A boat you ow
zheka24 [161]

Answer:

1,2,4,3

Explanation:

Liquidity measures how quickly an asset can be converted and used as a medium of exchange.

$50 bill is the most liquid because it can be readily used as a medium of exchange without any conversion.

The funds in a savings account is the second most liquid because because it must first be withdrawn from a bank account before it can be used as a medium of exchange. It can be converted to a medium of exchange within a day.

A bond issued by a publicly traded company is the third most liquid because it takes a longer period for it to be converted to cash.

A boat is the least liquid because it takes a long while to find a buyer for a boat.

I hope my answer helps you.

4 0
4 years ago
Why is it important to look at external sources of information when exploring product and service information?
kolbaska11 [484]

Internal data is from within the company, like operations and sales figures. External data comes from looking at the market, such as consumer trends, and marketing research. It is important to consider external data because it gives companies a better picture of their customers and competitors.

5 0
3 years ago
For each of the following independent cases, use FIFO costing to determine the information requested. Required: a. In the beginn
Ludmilka [50]

Answer:

$35,000

Explanation:

Units started and completed means that out of the units completed and transferred, how many were started during the period. This figure is calculated in physical terms only. So there is no need to express any units in their equivalents.

So, this gives us an idea of how to calculate this :

Units started and completed = Units Completed and Transferred - Units in Beginning Work in Process

therefore,

Units started and completed = 40,000 units - 5,000 units = $35,000

3 0
3 years ago
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