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
yawa3891 [41]
3 years ago
6

Milk has an inelastic demand, and beef has an elastic demand. Suppose that a mysterious increase in bovine infertility decreases

both the population of dairy cows and the population of beef cattle by 50 percent.
The change in equilibrium quantity will be

a. greater in the milk market than in the beef market.
b. greater in the beef market than in the milk market.
c. the same in the milk and beef markets.
d. Any of the above could be correct.
Business
1 answer:
makkiz [27]3 years ago
7 0

Answer:

b. greater in the beef market than in the milk market.

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Demand is elastic if quantity demanded is more sensitive to changes in price. A small change in price leads to a greater change in quantity demanded.

Demand is inelastic if when price changes, there is little or no change in quantity demanded.

If there's bovine fever which decreases the population of beef cattle by 50 percent, supply would fall and price would rise. As a result of the rise in price, quantity demanded of beef would fall more than the quantity demanded of milk because beef has an elastic demand while milk has an inelastic demand.

I hope my answer helps you

You might be interested in
One problem with using email is that
NeTakaya

Answer:

On emails you could be introduced to virus's that can enter your computer! Which is why most people fo not open emails from random strangers.

Explanation:

not sure if this is the answer you're looking for, but hope it helps!

4 0
3 years ago
In 2020, Mowchan Inc. acquired Sanchez Co. and recorded goodwill of $290 million as a result. The net assets (including goodwill
Stels [109]

Answer:

$170 million

Explanation:

First we must calculate the implied fair value of goodwill:

fair value of goodwill = Sanchez's fair value - Sanchez's asset valuation = $1,020 million - $900 million = $120 million

impairment loss = recorded goodwill - fair value of goodwill = $290 million - $120 million = $170 million

An impairment loss is a loss generated by the decline of an asset's fair value.

3 0
3 years ago
When John first starts his job, he rides the bus wherever he goes. However, after one year, John receives a promotion and a pay
vekshin1

Answer:

c. Inferior

Explanation:

Based on the information provided it can be said that this behavior would indicate that to John, a bus ride is an inferior good. This term by definition is a good whose demand decreases when consumer's income rises. Since John received an increased salary with his promotion, he is now able to afford to be able to drive instead of taking the bus. Therefore his demand for taking the bus has drastically decreased.

4 0
3 years ago
Negative externalities that arise from the production of a gooda. cause an increase in the demand for the goodb. cause a decreas
Dennis_Churaev [7]

Answer:

The correct answer is option c.

Explanation:

Externalities refers to the situation in which costs or benefits arising from the activities of someone are incurred or  received by the some other third party.

Externalities can be classified into two types, namely, positive and negative.

In case of negative externalities the cost arising from the activities of some person are incurred by a third party.

Negative externalities lead to market failure.

6 0
3 years ago
Assume that Jack, Hal, and Sophia enter into a valid contract for the sale of the restaurant and for the covenant not to compete
Andrei [34K]

Answer: C. Reformation

Explanation: A non-compete agreement or clause is a legal binding entered into by two or more parties which restricts the parties from being in competition with the other usually through the sale of similar product. However, in the context above, since the non-compete clause has been breached by Jack, and the judge feels the time constraint in the clause was unreasonably long, The reformation process will be best to remediate the situation, which refers to the change or alteration of the terms of an existing document using the judicial process and requires the conformation of the parties involved.

6 0
3 years ago
Other questions:
  • ​the marketing concept is a ______________ that guides the overall activities of an organization. it has evolved over time from
    6·1 answer
  • There are several methods to maximizing the marketing value of​ e-mails. using​ e-mail campaigns that can be carried out​ quickl
    10·1 answer
  • 9. Gallagher is planning on
    12·1 answer
  • Collin was hired to work on data analytics, but once he started, the job quickly changed to project management. His supervisor n
    12·1 answer
  • Majesty Productions accepted a $7,200, 120-day, 6% note from Swartz Studio on March 1. On the date the note matures, Swartz is u
    14·2 answers
  • What type of consideration does the proposed insured offer to an insurance company?
    9·1 answer
  • Cameron is choosing a car insurance plan. Based on his driving history and traffic where he lives, Cameron estimates that there
    6·1 answer
  • often the most difficult part of computing accurate unit costs is determining the proper amount of _________ to assign to each p
    8·1 answer
  • Compared to the perfectly competitive firm, the monopolist faces a demand curve that is ___________________ elastic because ther
    9·1 answer
  • What are hollow corporations? A. companies that market their products through franchisees B. companies that outsource all produc
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!