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
gregori [183]
3 years ago
6

How does a business that is highly elastic respond to a drop in prices

Social Studies
1 answer:
erma4kov [3.2K]3 years ago
8 0

Answer:

The more elastic the supply curve, the easier it is for sellers to reduce the quantity sold, instead of taking lower prices. In a market where both the demand and supply are very elastic, the imposition of an excise tax generates low revenue.

Explanation:

Price elasticity of supply measures the responsiveness to the supply of a good or service after a change in its market price. According to basic economic theory, the supply of a good will increase when its price rises. Conversely, the supply of a good will decrease when its price decreases.

You might be interested in
Jake is weightlifting at the gym. He works out with 100 pounds and then adds 5 pounds, but notices no increase in weight. He ins
Akimi4 [234]

Answer:

B. Weber's law.                                                                                              

Explanation:

Weber's law: The Weber's law is also known as the Weber-Fechner law and is defined as the size of JND i.e, just noticeable difference (represented with delta I) is of constant proportion to that of the value of the original stimulus. In other words, the law states that the increment threshold ratio concerning the background intensity is similar.

Example: A person needs to shout to be heard by the person in any noisy place.

In the question above, the given statement best illustrates the Webers's law.

4 0
3 years ago
Which committee must consider a bill before the bill can be considered by the full house
castortr0y [4]
The Rules Committee                                
5 0
3 years ago
Read 2 more answers
Which choice BEST describes the shift in political power that took place following the Russian Revolution of 1917?
leonid [27]

they got rid of the czars (kings) and had the bolsheviks take over

5 0
3 years ago
Explain why the constitution limits the power of the executive branch
sleet_krkn [62]

Answer:

The constitution limits the powers of the executive branch because the separation of powers divides the powers of the government into three separate branches and restrains any branch to have too much power. The executive branch can veto any law brought to it.

Explanation:

5 0
3 years ago
How do you think men may experience infertility in terms of their subjective experience?
jolli1 [7]
They would possibly not be able to do certain things anymore

7 0
3 years ago
Other questions:
  • Why are media potentially so effective?
    14·1 answer
  • LaToya’s friends drop by her house and insist she join them while they go prank some of the kids at their rival school. She know
    6·1 answer
  • Wilhelm Wundt's brand of psychology focused on the study of _____, while John Watson's brand of psychology focused on the study
    10·1 answer
  • ________ are kept within normal range by physiological control mechanisms which are used if the variable strays too far from its
    12·1 answer
  • The ________ states that the opportunity cost of producing a good always rises as one produces more of it.a. law of increasing r
    12·1 answer
  • Chad, who grew up in the United States, is more likely to encourage ________ in his future children than Asian-born Hidiyaki, wh
    8·1 answer
  • The settlement houses that were established in poor urban areas were designed to
    11·1 answer
  • 50 points! Where and How Did the U.S. Contain Communism Best? Explain. (Berlin, Korea, or Cuba) Thanks^^
    13·1 answer
  • Help define all these words in your own words
    5·1 answer
  • Carmen would rather spend time interacting and relaxing with friends than working. In fact, she recently turned down a promotion
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!