The main factors influencing a commodity's price elasticity of demand are as follows: 1. The presence of substitutes 2. The sum of consumer spending 3. The Products' Complementarity.
The main factors influencing a commodity's price elasticity of demand are as follows: 1. The presence of substitutes 2. The sum of consumer spending 3. A product's number of applications 4. The Products' Complementarity 5. Time and elasticity. The most important factor influencing price elasticity of demand is the availability of diverse kinds and quantities of substitutes for a particular commodity or service. If a commodity has close substitutes, its demand is probably elastic. The demand for such an item will be greatly diminished if its price rises because consumers will switch to similar substitutes.
With increasing substitutability, something's price elasticity of demand rises.
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How am i supposed to answer the question with no choices to choose from
Answer:
Profit
Explanation:
Profit strategy is an approach used by organizations to maximise profits through any possible method. This strategy involves setting different prices on the product to ensure that the company makes profit on each sale of the product in the market.
The various steps to be taken inorder to maximise profits in a business include:
- Removal of different products and services that do not add a significant amount of profit to the organisation
- Finding new potential customers.
- Restructuring the current price structure.
Answer:
$4,600
Explanation:
Data provided in the question:
Purchasing cost of the van = $20,000
Adjusted basis = $5,800
Worth of the van at the time of accident = $6,000
Insurance reimbursement = $1,200
Now,
The amount of Riley's casualty loss deduction will be
= Adjusted basis - insurance reimbursement
or
Amount of Riley's casualty loss deduction = $5,800 - $1,200
or
Amount of Riley's casualty loss deduction = $4,600
Problems that may occur when entering a parkway are: cars not yielding or moving over for oncoming traffic, cars not obeying the speed limit and cars not keeping up with the flow of traffic. It is important to make sure you check your surroundings multiple times when entering a parkway because you are coming into traffic that has been moving at a much faster rate and trying it merge in with them.
