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
OLga [1]
3 years ago
6

What information must economists have to estimate the price elasticity of​ demand? To estimate the price elasticity of​ demand,

economists need to know A. the market price and quantity sold. B. the supply curve for a product. C. the demand curve for a product. D. total revenue. E. the change in priceprice.
Business
1 answer:
kkurt [141]3 years ago
3 0

Answer:

C. the demand curve for a product.

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.

Thus, to determine the value of elasticity, one must know what was the change in price and the change in quantity demanded. In a graph where price and quantity are the x and y axes, this can be obtained by observing changes in the demand curve points, which reflected the price change on one axis and the quantity change on another axis. Thus, it is sufficient to divide the percentage change in quantity demanded by the percentage change in price to find the price elasticity of demand.

You might be interested in
The cycle view of the supply chain is useful when considering operational decisions, because Select one: a. it focuses on proces
almond37 [142]

Answer:

c. it specifies the roles and responsibilities of each member of the supply chain.

Explanation:

Supply chain management (SCM) can be defined as the effective and efficient management of the flow of goods and services, as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers. Generally, the supply chain management involves all the activities associated with planning, execution and supply of finished goods and services to the consumers.

The key principle of supply chain management can be best summed up as collaboration between multiple firms. These multiple firms include a company that is saddled with the responsibility of manufacturing, a wholesaler, and a retailer who typically sells the products to the customers or consumers.

Basically, these three (3) firms or individuals are required to collaborate with each other so as to meet the needs of the customers in a timely manner or fashion and at a fair price too.

Hence, the supply chain comprises of processes which are typically divided into four (4) cycles;

1. Customer order cycle: it involves the process of receiving an order from a customer, entry and fulfillment of orders.

2. Replenishment cycle: it includes receiving, entry and fulfillment of retail orders.

3. Manufacturing cycle: it includes the process of converting raw materials into finished products.

4. Procurement cycle: this includes shipping or receiving raw materials and production schedules.

The cycle view of the supply chain is useful when considering operational decisions, because it specifies the roles and responsibilities of each member of the supply chain.

8 0
3 years ago
Use the following data to determine the total amount of working capital.
Leokris [45]

Answer:

$353,800

Explanation:

Working Capital = Current Assets - Current Liabilities

where,

CA = $146000 +  $189000 + $155000 + $94800 = $584,800

CL = $206000 + $25000  = $231,000

therefore,

Working Capital = $584,800 - $231,000 = $353,800

6 0
3 years ago
The reason that a person buys health or life insurance is to
Over [174]
D to limit the amount of financial loss if there is an illness or injury
6 0
3 years ago
Authors<br> d. p. rosenbaum and g. ganson concluded that the<br> d.a.r.e. program _________.
Pani-rosa [81]

Drug Abuse Resistance Education (D.A.R.E.) is a police officer-led  arrangement of classroom exercises that shows kids (normally in rudimentary or center school) how to remain tranquilize free and oppose peer weight.  

According to Rosenbaum and Hanson (1998), D.A.R.E has no critical in general effect on utilizing cigarettes or liquor  

They concluded that, Given the tremendous uses in time and cash required with D.A.R.E., no doubt proceeded with endeavors should center around different systems and projects that may deliver more significant impacts.

5 0
3 years ago
Financial statements are prepared: Group of answer choices For corporations, but not for sole proprietorships or partnerships. P
telo118 [61]

Answer:

Primarily for the benefit of persons outside of the business organization.

Explanation:

Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, account payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP) and financial accounting standards board (FASB). The financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining standard financial accounting and reporting for general guidance of individuals such as investors, issuers and auditors.

Financial reporting can be defined as the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.

Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. Thus, it includes balance sheet, statement of retained earnings and income statement. The information that are found in a financial statement are revenues, expenses, liability, equity and assets.

Hence, the primary objective of financial accounting is to provide accounting information for external users so as to enable them have a good understanding of the financial inclination of a business firm and thus, make an informed decision whether or not to invest in the business firm.

In Accounting, the external users of a financial accounting information includes customers, creditors, investors shareholders and government regulators.

8 0
2 years ago
Other questions:
  • You own a portfolio that has $3,100 invested in Stock A and $4,200 invested in Stock B. Assume the expected returns on these sto
    13·1 answer
  • A used-car dealer has a vehicle on the lot with a sticker price of $5999. if the dealer markup on used vehicles is 20%, how much
    7·2 answers
  • Pilger corporation has cash on hand at year-end of $201,000 and a negative cash flow from operations of $144,000. what is the ra
    11·1 answer
  • Ferris Company began January with 7,000 units of its principal product. The cost of each unit is $8. Merchandise transactions fo
    12·1 answer
  • 1. Which account balance is always reported at the same amount on the parent's balance sheet and on the consolidated balance she
    5·2 answers
  • Barlow Company's Accounts Payable balance at December 31, 2008, was P1,800,000 before considering the following transactions: •
    7·1 answer
  • The presence of diversity (i.e., disparate points of view and perspective), faciliates creativity because __________ are natural
    6·1 answer
  • The Old World Café’s cash register receipts showed total sales of $884. The cash equaled $534, and the credit card slips equaled
    7·1 answer
  • 4. _______________________ gives the personnel the authority and responsibility to require that work be stopped when a dangerous
    14·1 answer
  • Need help making a prediction about where technology is going in the future!
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!