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
emmainna [20.7K]
4 years ago
14

Adam and barb go to the store to purchase some lottery tickets. without looking at the price, adam says "i’ll take 10 lottery ti

ckets," and barb says "i’ll take $10 worth of lottery tickets." what is each person’s price elasticity of demand for lottery tickets
Business
1 answer:
Shtirlitz [24]4 years ago
6 0

Answer:

Price elasticity of demand for Adam=0

Price elasticity of demand for Barb=1

Explanation:

Price elasticity of demand = %age change in demanded QTY / %age change in demanded price

The price is not important for Adam, and he demands a fixed quantity, hence his demand curve is vertical. A perfectly vertical demand curve is can inelastic demand curve and has price elasticity =0

The quantity is not important for Barb, and he demands a fixed price, hence his demand curve is horizontal. A perfectly horizontal demand curve is has price elasticity =1

You might be interested in
A&B Enterprises may add customer appraisals as a component of employee performance appraisals. All of the following are most
Vitek1552 [10]

Answer: Evaluating Development Programs

Explanation:

Customer Appraisal is very and should be very important to companies because it is a critical source of information that guides a company on knowing Consumer Behavior.

Knowledge of Consumer Behavior can make or break a company as it enables them to know if they are satisfying their customer's needs.

Fostering Change, Holding Employees Accountable and Demonstrating a commitment to Customers are main reasons for Customer Appraisals. Evaluating Development Programs is not likely to be a reason so is the correct answer here.

5 0
3 years ago
In this particular state, real estate agents tend to inspect properties in order to tell their clients of any defects that the p
Sveta_85 [38]

Answer:

Leslie is correct

Explanation:

It is the duty of the real estate agents to inspect properties properly before signing listing agreement or contracts. In this scenario, Katherine did not do her inspection job properly and if in this scenario, Leslie buys the house and finds out about the leaky roof, she is very correct to accuse Katherine of negligent misrepresentation, and thus should hold Katherine liable for the leaky roof problem.

4 0
4 years ago
Think of a time you encountered an ethical dilemma. What was the situation? How did you react? Do you behave ethically? How do y
otez555 [7]

Answer: Ok so i work in a place where realtionships at the job are forbbiden, well not forbbiden strictly but you get it right. so, this boy and this girl were dating and once the boss found he did not let them work together he actually seperated them and the girl had to work with me and the boy had to work with other coulleges.    

Explanation: i hope you understand

3 0
3 years ago
Explain the nature of economic theory
kkurt [141]

Answer:

please give me brainlist and follow

Explanation:

Nature of Economic Theory: Economic theory involves generalisations which are statements of general tendencies or uniformities of relationships among various elements of economic phenomena. A generalisation is the establishment of a general truth on the basis of particular experiences.

7 0
3 years ago
Managers should consider the price sensitivity of the target market when setting prices.
UkoKoshka [18]

True. Managers should consider the price sensitivity of the target market when setting prices.

<h3>What is meant by price sensitivity?</h3>

The degree to which demand fluctuates as a product's or service's price changes is known as price sensitivity. The price elasticity of demand, which implies that certain buyers won't pay more if a lower-priced choice is available, is a typical method for measuring price sensitivity.

By dividing the percentage change in quantity demanded by the percentage change in price, one can calculate price sensitivity. Sensitivity in finance refers to how much a market instrument will change in response to changes in underlying factors, most frequently in terms of how its price will move in response to other circumstances.

Read more on price sensitivity here: brainly.com/question/11715656

#SPJ1

Managers should consider the price sensitivity of the target market when setting prices.

t OR f

4 0
1 year ago
Other questions:
  • The major purpose of the sarbanes-oxley act of 2002 was to place caps on the compensation that could be paid to corporate execut
    12·1 answer
  • The most critical aspect of a WAN services contract is how the service provider supplies troubleshooting, network management, an
    10·1 answer
  • Rose industries had 400 units of product ab in their inventory, costing $12 each. 600 more units of product ab were purchased fo
    5·1 answer
  • For each of the following separate transactions,
    8·1 answer
  • The management of Leyton Electronics Inc. always favors market orientation over the other marketing management philosophies. In
    11·1 answer
  • Where the combined strength of two items is greater than the sum of their individual strengths. In the media business, this term
    12·1 answer
  • How should an organization design its structure and culture to obtain a core competence in manufacturing and in research and dev
    13·1 answer
  • Seaside issues a bond that has a stated interest rate of 10%, face amount of $50,000, and is due in 5 years. Interest payments a
    13·2 answers
  • The 2,000 accounts receivable of ABC Company have a total book value of $40,000. Bill Rotter, CPA, has selected and audited a sa
    8·1 answer
  • An argument for trade tariffs is that it protects infant industries.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!