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Zigmanuir [339]
3 years ago
8

Demand for a given good is elastic, which means that the percentage change in __________ is greater than the percentage change i

n __________.
Business
1 answer:
bezimeni [28]3 years ago
3 0

Answer: quantity demanded; price of the goods

Explanation:  

Elasticity measures how much one economic variable responds to changes in another economic variable. The price elasticity of demand measures how responsive quantity demanded is to changes in price.

The price elasticity of demand is equal to the percentage change in quantity demanded divided by the percentage change in price. If the quantity demanded changes more than proportionally when price changes, then the price elasticity of demand is greater than 1 in absolute value, and demand is elastic. If the quantity demanded changes less than proportionally when price changes, then the price elasticity of demand is less than 1 in absolute value, and demand is inelastic. If the quantity demanded changes proportionally when price changes, then the price elasticity of demand is equal to 1 in absolute value, and demand is unit elastic.

Perfectly inelastic demand curves are vertical lines, and perfectly elastic demand curves are horizontal lines. Relatively few products have perfectly elastic or perfectly inelastic demand curves.

In terms of income elasticity of demand, a value greater than one implies that the percentage change in the quantity demanded of the good is greater than the percentage change in income.

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Answer:

lean manufacturing approach

Explanation:

Based on the information provided within the question it seems that Alex would like to adopt a lean manufacturing approach. This is an approach that focuses mainly on trying to minimize as much waste in the manufacturing process while still increasing productivity. Which is what Alex wants to do since he believes the firm wastes too many resources in production and wants to minimize that.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

7 0
3 years ago
Free enterprise is more likely to be observed in what type of economic system
ZanzabumX [31]
<span>Free enterprise is more likely to be observed in "mixed" economic system.

A mixed economic system refers to a financial framework that highlights qualities of both private enterprise and communism. A mixed economic framework secures private property and permits a level of financial flexibility in the utilization of capital, yet additionally takes into account governments to interfere in economic exercises to accomplish social points. 
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2 years ago
A computer game that can be purchased online and played right away has good
Andre45 [30]
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corssfire
7 0
2 years ago
Based on this knowledge, the CEO of U.S. Builders asked his administrative assistant to talk with Teresa and tell her that takin
almond37 [142]

Answer:

U.S. Builders

The problem with the discipline process that U.S. Builders has is:

Implementing the resolution of the disciplinary process.

Explanation:

The correct disciplinary process should follow the following steps:

1. Obtaining an initial understanding of the issue.

2. Carrying out a thorough investigation to establish the facts.

3. Inviting the affected employee to a disciplinary meeting.

4. Conducting  the disciplinary meeting.

5. Deciding on the disciplinary action to take.

6. Confirming and conveying the outcome in writing.

7. Giving the employee the right to appeal.

Implementing the resolution.

4 0
2 years ago
Ceteris paribus, if the corn crop is 15 percent larger this year than it was last year, farmers will have to ________ the price
Yuki888 [10]

Answer:

Reduce and  more than 15 percent

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As Inelastic Demand state that the percentage change in quantity demanded is less than the percentage change in price. Therefore, if the crop is 15 percent higher, farmers will have to reduce the cost of corn by 15 percent to sell the new crop. We know that supply and price share an inverse relationship to reduce sales as supply increases and new crops grow.

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3 years ago
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