Answer:
<h2>In the case of a linear downward sloping demand curve,the price elasticity of demand is elastic in the upper portion and increasingly inelastic in the lower portion.Hence,the answer in this case would be option A.</h2>
Explanation:
- Based on the common consumer psychology,any rational consumer or buyer is relatively more responsive or reactive to any certain change in market price of any normal good or service during the initial stages of purchase or consumption.
- Hence,during the initial consumption phase,if the market price of any good or service changes by a certain proportion,then consumer demand for that product or service would also change in significant or considerable proportion.
- However,as the rational consumer or buyer increases its consumption level of any good or service as its market price decreases progressively,he or she becomes increasingly insensitive or unresponsive towards the change or further decrease in its market price.
- This phenomenon can be conceptually attributed to the law of diminishing marginal utility of any normal good or service which evidently advocates that as the individual consumer or buyer consumes more of any particular good or service,the additional or incremental consumer satisfaction or utility obtained from 1 more unit purchase of that particular good or services decreases progressively.In other words,the marginal utility of the consumer or buyers falls increasingly as the consumption level of any good or services increases.
- Hence,the market value of any product or service also declines as the consumption level of any good or services increases thereby making the consumers or buyers increasingly unresponsive or non reactive as its market price decreases especially towards the later or subsequent stages of consumption or purchase.
In every business they try to spark peoples eyes they wanna get consumers attention so they add Dasani drops and Dasani sparkling to get there attention so that people will invest into there product
Answer:
The answer is: D) $1.75
Explanation:
Consumer surplus is the difference between the maximum price that a consumer is willing to pay for a good and the actual price paid for the good.
Larry, Alan and Ryan were all willing to pay more for a bottle of soda than the actual price of the soda.
- Larry's consumer surplus = $2 - $1 = $1
- Alan's consumer surplus = $1.50 - $1 = $0.50
- Ryan's consumer surplus = $1.25 - $1 = $0.25
The total consumer surplus is $1 + $0.50 + $0.25 = $1.75
Answer:
C) tender.
Explanation:
In contract law, a tender offer to perform is conditioned to the moment when the other party is willing and ready to perform as well. In this case, CrossCountry signed a contract, but the contract will be valid when the other party (Discount Outlet Stores) needs their services. If the other party does not require their services, CrossCountry is not able to perform nor demand performance.
Answer:
A
The Production possibilities frontiers is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised. The PPF is bowed outward if increasing opportunity costs exist.
As more quantities of good X is produced, there would be fewer resources available to produce good Y. As a result, less of good Y would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.
