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Kaylis [27]
3 years ago
7

Current increases in the price of gasoline are expected to persist indefinitely. Based only on this​ information, the long minus

run demand for gasoline would be expected to be A. relatively inelastic comma as compared to the short minus run demand. B. relatively elastic comma as compared to the short minus run demand. C. unitary. D. There is not enough information to determine anything about elasticity
Business
1 answer:
zysi [14]3 years ago
4 0

Answer:

A. relatively inelastic comma as compared to the short minus run demand

Explanation:

Price elasticity of demand is a measure of the sensitivity of demand for a good or service to changes in the price of that product. We say that the price elasticity of demand is elastic when a percentage change in the price of this good has major impacts on demand. On the contrary, we say that the price elasticity of demand is inelastic when variations in the price of goods have little or no influence on demand.  

In the short run, an increase in gasoline prices may be unwelcome by consumers who may stop buying gasoline, meaning that in the short run the demand for gasoline tends to be elastic. However, over time consumers have realized that the price hike has not been temporary and that the new price is indeed a reality. Since gasoline is a commodity of great need for car owners, the tendency is for consumers to adapt to the new price in the long run, making demand more inelastic.

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Amazon Prime, briefly mentioned in the case, is a subscription service that gives members free two-day shipping on hundreds of t
Leto [7]

Cheaper pricing, more attractive loyalty programmes, more convenient delivery options and better product range.

Explanation:

A website asked participants how much their average spending online is invested. Results suggest Amazon Prime subscribers buy more money overall; U.S. Prime affirms doing 53 percent of their online shopping, while Non-Prime members invest 50 percent in the United Kingdom.

As internet customers in general, they spoke to Prime members about Amazon being too strong, with 61% of British members and 69% of American Prime members claiming that they are worried with Amazon's increasing and stifling competition. Amazon is a big player.

The main reasons they asked for Amazon were: lower prices, more loyalty rewards, more flexible shipping choices and better product selection.

Prime Members quoted the main reasons they should choose another store over Amazon. In the United States 26% and in the United Kingdom 18% have reported that they enjoy interactions in-store.

4 0
2 years ago
On March 1st, Mr. Smithe signed up for a fitness program at Fit Co. and paid $960 for the entire program upfront. The program in
vichka [17]

Answer:

Revenue - March = $160

Explanation:

The accrual principle in accounting states that the revenues for a period should match the expenses for that particular period and any revenue or expense should be recorded in the period to which it relates to. This means that the upfront fee received by Fit Co. is a liability and should not be recorded as a revenue until it is earned. So, by providing two sessions in the month of March, Fit Co. has earned revenue for 2 sessions out of the twelve. Thus, at the end of March, Fit Co. should record a revenue of,

Revenue - march = 960 * 2/12 = $160

8 0
2 years ago
Each scenario below illustrates a basic underlying principle of economics of how economies work through the interactions of indi
vladimir1956 [14]

Answer:

The correct answer is: market efficiency; government intervention; specialization; equilibrium.

Explanation:

The owner of the snow cones realizes that the demand for snow cones has decreased in winter, and thus, closes shop to open back. This is an example of market efficiency.  

The local river is being polluted too much because of the amount of chemicals being dumped in the river. The government puts regulation on the amount of chemicals being dumped. This is an example of government intervention in the economy.  

At a restaurant one chef is placed at the vegetable station, one chef is at meat station, and one is to plate the food. This an example of specialization the management is placing chef that specializes in vegetable, meat and in plating at their respective positions.

The favorable whether leads to increase in supply of oranges. This causes a rightward shift in supply curve. The price of oranges fall as a result. This is an example of change in equilibrium.

3 0
3 years ago
​When Julius hears that there are going to be cutbacks in his department, he immediately calls his supervisor and asks for an ap
Darya [45]

Answer:

maladaptive coping

Explanation:

7 0
2 years ago
XYZ​ firm, the leading producer of leather goods in its country is planning to expand its business. Industry experts identify As
melisa1 [442]

The correct answer would be option D, India has high import tariffs.

Mark feels that Darren is too optimistic and that this venture may not turn out to be as profitable as Darren expects it to be. Darren's view is based on the assumption that India has high import tariffs.

Explanation:

When companies import or export products in or out of the country, they are usually charged with a duty which they have to pay on the import or export of the products. This is called as the Tariff.

While considering the export of a product to another country, the import tariffs of that other country has a pretty much impact on the profits of that company's Sales. Higher the tariffs, lower the profits and vice versa.

So when Mark wanted to export his product to India, Darren was with the view that India has high import tariffs which will restrict them to have huge profits of exporting their product.

Learn more about import export tariffs at:

brainly.com/question/6869228

#LearnWithBrainly

7 0
3 years ago
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