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Mars2501 [29]
3 years ago
10

Which of the following statements is correct?

Business
1 answer:
Kay [80]3 years ago
4 0

Answer:

The correct answer is letter "C": The demand for bourbon whiskey is more elastic than the demand for alcoholic beverages in general.

Explanation:

Elasticity is a measure of the response of variables to a shift in a certain variable. It can explain to what degree the supply or demand for a product or service shifts with the price of the goods or the income of customers. <em>Basic staples such as milk or gasoline tend to be low in elasticity</em>. This is because to change the quantity demanded involves a meaningful change in price or customer income. <em>It's said that luxury goods like high-end vehicles and electronics have high elasticity</em>.

Thus, <em>bourbon whiskey is considered as a luxury beverage compared to other alcoholic drinks. Thus bourbon whiskey is more elastic</em>.

You might be interested in
For each macroeconomic viewpoint, identify whether it is a position held by classical economists, Keynesian economists, or monet
labwork [276]

Answer:

a. Classical theory

b. Monetarist school.

Explanation:

Classical theory assumes that the fall in aggregate demand will create temporary affect on employment and ;later in the long run economy will adjust itself and will be at full employment automatically. Keynesian theory believes that demand is the factor which drives the economy. If the economy is at recession then efforts should be made to increase demand which will turn the economy growth upright.

8 0
3 years ago
Which has a higher flow rate? 10 customers arriving over two hours or 10 customers arriving over three hours?
Tcecarenko [31]

The one that gives a higher flow rate is: 10 customers over 2 hours. The flow rate is 5 customers per hour.

Flow rate is defined as the number of flow units that pass through the business process per unit time.

The flow unit can be money, customers, products, parts, services, etc.

Example of flow rate is number of customers serviced per hour, number of parts produced per minute, etc.

From the definition, the flow rate can be expressed as:

             Flow rate = number of flow unit / time interval

There are 2 scenarios in the given problem.

  • Scenario 1:

Flow unit = 10 customers

Time interval = 2 hours

Hence, the flow rate in scenario 1 = 10/2 = 5 customers per hour

  • Scenario 2:

Flow unit = 10 customers

Time interval = 3 hours

Hence, the flow rate in scenario 2 = 10/3 = 3.33 customers per hour

By comparing the above scenarios, the one that gives higher flow rate is scenario 1, 10 customers over 2 hours.

Read more about flow rate here:

brainly.com/question/14896563

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4 0
2 years ago
Ratio analysis:___________.
Mnenie [13.5K]

Answer:

D. Serves as an initial evaluation of the adequacy of an investment's expected cash flows.

Explanation:

Ratio analysis serves as an initial evaluation of the adequacy of an investment's expected cash flows.

Ratio analysis can be defined as the analysis of different pieces of financial information in the financial statements of a business.

Ratio analysis is used to get insight about the financial wellbeing of a business. It is used by analysts to determine various aspects of a business, such as its profitability, liquidity, and solvency.

7 0
3 years ago
What is the total of tim’s liabilities if he has recorded $50,000 in assets and $40,000 equity on a balance sheet?
miss Akunina [59]

Total assets = Total liabilities + Total stockholders' equity

Total liabilities = Total assets - Total stockholders' equity

Total liabilities = $50,000 - $40,000

Total liabilities = $10,000

Hence, the total of Tim's liabilities is $10,000.

Responsibility is the responsibility of the individual or company and is usually the amount. Debts are settled over time by the transfer of economic interests, including money, goods, or services. The liabilities shown on the right side of the balance sheet include loans, liabilities, mortgages, income receivable, borrowings, guarantees, and accrued expenses.

Liability can be compared to assets. Debt is what you owe or owe. An asset is something you own or owe. In general, liability is an obligation between one party and another that has not yet been exempted or paid. In the accounting world, financial liabilities are also obligatory but are more likely to be defined by past commerce, events, sales, asset or service exchanges, or those that will generate economic benefits in the future.

Learn more about Liability here: brainly.com/question/24534918

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7 0
2 years ago
Suppose that the quantity of DVD players sold increased from 200 to 400 when the price fell from $225 to $175. Over this price r
Nataly_w [17]

Answer:

Option D.

Explanation:

Given information:

Q_1=200, Q_2=400

P_1=225, P_2=175

Formula for price elasticity of demand is

E_d=\frac{Q_2-Q_1}{P_2-P_1}\times \frac{P_1+P_2}{Q_1+Q_2}

Substitute the given values in the above formula.

E_d=\frac{400-200}{175-225}\times \frac{225+175}{200+400}

E_d=\frac{200}{-50}\times \frac{400}{600}

E_d=-\frac{8}{3}

E_d\approx -2.67

Absolute value is

|E_d|= |-2.67|=2.67

The absolute value of the price elasticity of demand for DVD players is 2.67.

Therefore, the correct option is D.

6 0
3 years ago
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