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Liula [17]
3 years ago
5

A good’s price elasticity of demand depends in part on how necessary it is relative to other goods. If the following goods are p

riced approximately the same, which one has the least elastic demand?
1. Sports car

2. Chemotherapy for cancer patients
Business
1 answer:
Elza [17]3 years ago
5 0

Answer:

2) Chemotherapy for cancer patients

Explanation:

Chemotherapy for cancer patients is a basic necessity needed for the patient to continue living, so if the price of chemotherapy increases or decreases will not affect the patient's choice of getting it. What can affect the patient's decision is whether he/she can afford the treatment, but even if he/she can't they will seek other ways of trying to obtain it, e.g. going to public hospitals.

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When consumers buy _____ products, then producers make _____ goods and services. This can lead to economic growth.
d1i1m1o1n [39]
More shall be written in both lines
7 0
3 years ago
Which most likely occurs because resources are nonrenewable and because wants and needs are unlimited?
Wittaler [7]

Answer: b). Scarcity

Explanation:

Scarcity refers to the relative shortage of resources in comparison to human wants.

Non-renewable resources refer to the resources which do not renew itself at a sustainable rate and have the risk of depletion. In addition to this, human wants are unlimited, a normal human being wants more and more of everything.

When non-renewable resources and unlimited wants are combined together they lead to the shortage of resources, which lead to its <em>scarcity</em>.  

8 0
3 years ago
Read 2 more answers
On March 31, 2019, the balances of the accounts appearing in the ledger of Racine Furnishings Company, a furniture wholesaler, a
umka2103 [35]

Answer:

Net Income   $66100

Explanation:

<u>Racine Furnishings Company </u>

<u>Multi Step Income Statement </u>

<u>For the Year Ended March 31, 2019</u>

Sales                                                   6,126,850

Cost of Merchandise Sold                3,965,850

Gross Profit                                        2161000        

Less Operating Expenses

Depreciation                                  $747,950

Supplies Expense ( 87000- 20650)  66350

Salaries Expense                                7,700

Selling Expenses                           717,650

Administrative Expenses                545,700

Operating Income                           75,650

Other Expenses

Interest Expense                                 9,550

Net Income                                       $66100

From the sales cost of merchandise sold is subtracted to get the gross profit.  The operating expenses are subtracted from the gross profit to get the operating income. Other expenses such as interest expense is subtracted to get the net income.

7 0
2 years ago
In its first month of operations, Culver Company made three purchases of merchandise in the following sequence: (1) 205 units at
Oksi-84 [34.3K]

Answer:

$2,450 ; $1,430

Explanation:

The computation of the ending inventory using the periodic inventory system is shown below:

Under FIFO method

= 245 units × $10

= $2,450

We take the last units in this FIFO method

Under the LIFO method

= 205 units × $6 + 40 units × $5

= $1,230 + $200

= $1,430

We take the first units in this LIFO method

Hence, the closing inventory is come

3 0
3 years ago
Aspen Integrated Marketing used to have a strict hierarchical structure, with the information given only to those who required i
Dennis_Churaev [7]

Answer: d. open-book management.

Explanation:

OPEN-BOOK MANAGEMENT is a style of management where employees are given financial information on the company to help them perform better.

The concept is rooted in a theory that workers tend to have more motivation and be more productive when they feel as though they are being treated like Business partners who are usually the ones with access to such data as opposed to employees who usually do not.

5 0
3 years ago
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