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3 years ago

A theory asserts that consumers will purchase less of a good at higher prices than they will at lower prices.

Business

1 answer:

FrozenT [24]3 years ago

4 0

Answer:

b. It is likely that variables other than the price and quantity of cars demanded were

changing.

Explanation:

The law of demand states that the higher the price of a good, the lower the quantity demanded and the lower the price of a good, the higher the quantity demanded.

If price of cars was increasing and the quantity demanded also was increasing, it indicates other variables were changing. For example, if income was increasing at the time, the demand for cars would increase if cars are normal goods.

I hope my answer helps you

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A recent study on enrollment at a liberal arts college concluded that demand elasticity is 0.91. The administration is consideri

Julli [10]

Based on the fact that the demand elasticity is 0.91, the revenue-maximizing decision would be to d. increase tuition, which would generate more revenue.

<h3>Why is this the revenue-maximizing decision?</h3>

When the demand elasticity is below 1 as is the case here, it means that demand is inelastic.

When demand is inelastic, an increase in price will lead to a lower decrease in demand. This means that increasing prices for enrollment in this college will bring in revenue because there won't be much change in demand.

In conclusion, option D is correct.

Find out more on demand elasticity at brainly.com/question/6791468.

6 0

2 years ago

People who collaborate _______________.

puteri [66]

Answer:

The correct option is B

Explanation:

People who collaborate or collude might not always be motivated or encouraged by the same goals. In fact, for a business or firm to succeed, it need to work towards a number of goals or multiple goals which sometimes are in a competition with each other. Therefore, people need to recognize that they have different goals so that they could determine the priority or to find a solution which addresses both the goals.

8 0

3 years ago

MC Qu. 122 Walter Enterprises expects... Walter Enterprises expects its September sales to be 20% higher than its August sales o

padilas [110]

Answer:

Ending cash balance $67,900

Explanation:

The computation of the ending cash balance is given below:

Schedule of expected cash collection for September

From august sales (70% of 225,000) 157,500

From sept. sales (30% of 270,000) 81,000

Total cash collection$238,500

Now

Schedule of expected cash payment

For august purchase (80% of 175,000) 140,000

Foor september purchase (20% of 195,000) 39,000

Total cash payment $179,000

Now

Beginning cash balance 8,400

Budgeted cash collection 238,500

Total available cash 246,900

Budgeted cash payment -179,000

Ending cash balance $67,900

7 0

3 years ago

Explain which of the following items are money in the U.S. economy. Discuss your answers in terms of three functions of money. 1

AnnyKZ [126]

Answer:

$100

Mona Lisa painting

Explanation:

To start with, I will list the 3 primary functions of money, which are;

store of value,

unit of account, and

medium of exchange.

Going by the above, I would say that 2 of the 4 options presented before us are money, why so?

A $100 bill is definitely money, no much explanation is needed here, because it's used daily as a means of exchange between people

2. Euro is not a form of money in the US. While it is a form of money in many other places, it's not in the US because it doesn't satisfy the "medium of exchange" criteria of function of money. Euro can not be spent in a store or anywhere in the country, without it having been first exchanged into dollars

3. Mona Lisa painting, part of the functions of money is to store value, and I believe very much, a painting is a good store of money in that regard.

4. American Express credit card is not a form of money because unlike money

being used essentially, to pay for goods and services directly, a credit card is more or less, a store of wealth that is lent by the bank

6 0

3 years ago

Which of the following is a reason the life cycle stage concept sometimes gets criticism?

Tanya [424]

Answer:

Explanation:

a. concept testing ... Group members advocate criticism of an idea when it is ridiculous. c. ... new-product strategy or are obviously inappropriate for some other reason. ... It is often used at the development stage to rate product alternatives. b. ... Which of the following statements is true of the product life cycle (PLC)? a.

6 0

3 years ago

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