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Verdich [7]
3 years ago
13

Which product is most likely to be the most price elastic?

Business
1 answer:
Elina [12.6K]3 years ago
5 0

Answer:

automobiles

Explanation:

Price elastic describes the relationship between changes in demand as a result of changes in the price.  Price elasticity describes how a product's demand responds to a change in its price. Goods or services are price elastic if a small change in price causes considerable differences in their demand.

In this case, automobiles will be more elastic. Changes in their prices will result in significant changes in demand. An increase in the price of automobiles will result in consumers considering other means of transportation. When price decrease, many commuters will opt to but cars.  Milk, housing, and clothing are basic needs. People need them for survival. An increase or a decrease in their prices will not change their demand in a big way. They are price inelastic.

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What was the major problem faced by the earliest formal American police departments
frosja888 [35]
Many people believed that a police department should be formed by the citizens and not controlled by the government.
7 0
4 years ago
In calculating the unemployment rate, "discouraged" workers who are not actively seeking employment are:a. Excluded from the lab
murzikaleks [220]

Answer:

a. Excluded from the labor force

Explanation:

Labor force comprises people in active employment or those not employed but as actively seeking work.  Active employment consists of employed, self-employed, and those engaged in economic activities for a profit. Unemployed are the jobless people actively seeking for work. Students, retired people, children, the aged, and those not working and not seeking work are not part of  the labor force.

Discourage workers are a group of jobless workers who have given up the search for jobs. They are workers who, after failing to secure a job, have given-up; hence they are no-longer searching. Discouraged workers are not part of the labor force as they are not actively seeking work.

6 0
3 years ago
Given the following for the QRS Company: Assume QRS elects the carryback provision in 2017 and that future income is "more likel
Fudgin [204]

Complete Question:

Given the following for the QRS Company:

Year        Pre-Tax Net            Tax Rate

               Income (Loss)

2015          $10,000                  20%

2016             8,000                   20%

2017          (20,000)                  20%

2018           12,000                   20%

Assume QRS elects the carryback provision in 2017 and that future income is "more likely than not." 12/31/18 Income Tax Payable is:

Select One:

a. $2,400

b. $2,000

c. $11,600

d. $9,600

e. $400

Answer:

QRS

12/31/18 Income Tax Payable is:

b. $2,000

Explanation:

a) Data:

QRS Company:

Year        Pre-Tax Net            Tax Rate

               Income (Loss)

2015          $10,000                  20%

2016             8,000                   20%

2017          (20,000)                  20%

2018           12,000                   20%

b) QRS can recover the loss from the 2015 and 2016 net income in the sum of $18,000 ($10,000 + $8,000) and then carry forward $2,000 against 2018 net income.  Therefore, the taxable income for 2018 will be $10,000 ($12,000 - $2,000).  The income tax payable is $2,000 ($10,000 * 20%).

8 0
4 years ago
What would you do if you can stop time
Arlecino [84]

Answer:

Tbh if I could stop the time

I would do anything to get the time back to normal since it will probably  be boring doing it yourself with no help if you know what I mean :)

Explanation:

Hoped this helped :)

5 0
3 years ago
Read 2 more answers
Explain why the supermarket industry is an oligopoly
Misha Larkins [42]

Answer and explanation:

An oligopoly is when the market is controlled by a small group of two or more companies. Oligopoly firms may consent to market collusion, and build obstacles to new trade entry. If the businesses do not, they will be forced to lower their prices and open the markets to new and smaller firms.

<em>Supermarkets are oligopolies because in every market there are a few companies offering the same products just like them with small differentiation between one and another, providing those goods to relatively similar prices. </em>

4 0
3 years ago
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