Answer: d. is elastic.
Explanation:
A good is said to be elastic when its price elasticity of demand is greater than one.
Price elasticity of demand shows the change in quantity demanded as a result of a change in price.
Formula is:
= Percentage change in quantity demanded / Percentage change in price
Percentage change in price = (100 - 120) / 120 = -16.7%
Percentage change in quantity demanded = (13 - 10) / 10 = 30%
Price elasticity of demand = 30% / -16.7%
= -1.8
Price elasticity of demand is greater than the number 1 so this is elastic.
Repayment Limitation Table for 2017
Household Income Percentage of Federal Poverty Line Limitation Amount for Single Limitation Amount for all other filing statuses
At least 200%, but less than 300% $750 $1,500
At least 300%, but less than 400% $1,275 $2,550
400% or more No limit No limit
Answer:
D. Riley buys new windshield wipers for her car.
Explanation:
By definition unsought goods are those which are not purchased out of want or desire, but the purchases of which arise due to any of the following circumstances:
- danger - for example a fire extinguishers sought in the incident of a fire
- fear - for example the fear of crashing into another car (in this case)
- unexpected events - for example funeral services sought at the time of death
Answer:
guaranteed insurability rider
Explanation:
First of all, a rider is an insurance policy provision that allows customers to purchase insurance options that increase their coverage. Sometimes riders are given for free as a promotional free benefit.
A guaranteed insurability (GI) rider grants a current policy holder the option to purchase additional life insurance with no underwriting.
Answer:
Option E It is multiplied by the material unit cost to calculate the per unit carrying cost.
Explanation:
The reason is that the carrying cost which is also known as holding cost is the cost of holding a unit material for a year and this can be calculated as:
Holding Cost is also given in percentage of material price and is calculate by multiplying it with the material unit cost to calculate the holding cost per unit per year.
So the option E is correct.