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
Korolek [52]
3 years ago
13

Which of the following statements about the price elasticity of demand is correct The absolute value of the elasticity of demand

ranges from zero to one. The elasticity of demand for a good in general is equal to the elasticity of demand for a specific brand of the good. Demand is more elastic the smaller the percentage of the consumer's budget the item takes up. Demand is more elastic in the long run than it is in the short run
Business
1 answer:
notsponge [240]3 years ago
4 0

Answer:

Demand is more elastic in the long run than it is in the short run

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Demand is more elastic in the long run than it is in the short run because in the long run consumers have more time to search for suitable substitutes.

When the absolute value of elasticity of demand is less than one, demand is inelastic.

When the absolute value of elasticity of demand is equal to one, demand is unitary.

When the absolute value of elasticity of demand is greater than one, demand is elastic.

Demand is less elastic the smaller the percentage of the consumer's budget the item takes up. 

The elasticity of demand for a specific brand of good doesn't translate into the elasticity of demand for the good.

I hope my answer helps you

You might be interested in
The Tucker family has health insurance coverage that pays 80 percent of out-of-hospital expenses after a deductible of $1,000 pe
cricket20 [7]
30 because I don’t know what if I got it back in there at least you know
7 0
2 years ago
Explain how businesses can use copyright ,patent and trademarks in dealing with piracy
diamong [38]
Businesses use copyright, patents, and trademarks, to keep other companies from taking their idea or product. Copying a trademarked or patent product is illegal. (piracy)
3 0
3 years ago
Read 2 more answers
Technology Corp. is considering a $238,160 investment in a new marketing campaign that it anticipates will provide annual cash f
LUCKY_DIMON [66]

Answer:

B) IRR is 3%. Reject the project.

Explanation:

We can use an excel spreadsheet to calculate the internal rate of return (IRR) for this investment:

we can use the IRR function =IRR(values,[guess])

where:

  • value 1 = -238160
  • value 2 to 6 = 52000
  • guess = optional, not required

=IRR(-238160,52000,52000,52000,52000,52000) = 3%

4 0
3 years ago
Wanda is in charge of acquisitions for her company. Realizing that water is important to company operations, Wanda buys a plant
iren [92.7K]

Answer:

This is a very unlikely situation, since the plant must be really large and the river probably didn't carry a lot of water in the first place. But even if this was possible, it would be illegal for a company to use 100% of the natural resources available. No law or regulation (municipal, state or federal) would allow such thing to happen and assuming it got to court, the court would rule against the company.

Since you need an environmental impact report before you start building a factory, then it would be unlikely that the factory or plant was legally authorized to operate in the first place. The only option is that they built a dam and that is highly regulated.

8 0
3 years ago
Delaney company is considering replacing equipment which originally cost $600,000 and which has $420,000 accumulated depreciatio
Gelneren [198K]
From the given original cost and the total accumulated depreciation of the old equipment, it can be seen that the value of the equipment should still be $180,000.
                            salvage value = $600,000 - $420,000 = $180,000
Given that it can be sold for only $18,000, the sunken cost is $162,000. 
                            sunken cost = $180,000 - $18,000 = $162,000
7 0
3 years ago
Other questions:
  • 16 points please help! :(
    9·1 answer
  • You deposit $4000 into a savings account. the account earns 2.75% simple interest. how long will it take to earn $220 in interes
    12·1 answer
  • Last year a large trucking company delivered 9.5 x 10^5 tons of goods with an average value of $20,000 per ton. What was the tot
    13·2 answers
  • Who is the register general of c.a.c​
    9·1 answer
  • The following is national income account data for a hypothetical economy in billions of dollars: gross private domestic investme
    14·1 answer
  • Which logical operator would return the fewest records and or not nor?
    6·1 answer
  • What type of body language are helpful when saying no to a situation
    6·1 answer
  • Which of the following would lead to an increase in the demand for golf balls?
    10·1 answer
  • Select the correct answer.
    10·1 answer
  • One of the disadvantages of investing in real estate is A) investors need expert help. B) pyramiding. C) equity buildup. D) leve
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!