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
Gnoma [55]
3 years ago
7

Assume that demand for bottled water is relatively price elastic. An increase in supply of bottled water will result in which of

the following?
1. A decrease in price, leading to an increase in total revenue
2. A decrease in price, leading to a decrease in total revenue
3. An excess supply of bottled water
4. An excess demand for bottled water
5. A relatively small decrease in price and no change in equilibrium quantity
Business
1 answer:
DENIUS [597]3 years ago
3 0

Answer:

3 then 1

Explanation:

Supply is said to be increased when the quantity supplied expands but the price and quantity demanded remains unchanged. As quantity supplied has increased whereas the quantity demanded is what it was before this change, there is first a surplus of bottled water in the market. This surplus will have a downward pressure on price, reducing the quantity supplied a bit and, as the law of demand suggests ,the quantity demanded will increase. Given that the demand is relatively price elastic, the change in quantity demanded will be greater than the change in price. Therefore the revenue will increase.

You might be interested in
The company currently markets McDog T-bone, Lapdog Lunchtreats, Rover's Potroast, and Puppy Porterhouse in the dog food market.
olasank [31]

Answer:

company's product line in the dog food market

Explanation:

In the description provided, it can be said that Prime Cuts will be an addition to the company's product line in the dog food market. A product line is a group of related products all marketed under a single brand name and are sold by the same company to the same targeted group of consumers. Such as in this scenario, all of the products listed are dog treats/food with different ingredients and are all sold by the same company to people looking for dog food.

4 0
3 years ago
The goals scored per game by a soccer team represent the first quartile for all teams in a league. what can you conclude about t
nirvana33 [79]

Actually the quartile represents in what rank or order the team is when all the goals per team is arranged in ascending order. So for example since the team is on the first quartile, so this means it is on the 25% of the ranking. Hence we can say that:

“the team scored fewer goals per game than 75% of the teams in the league”

3 0
3 years ago
A cognitive psychologist believes that people learn better when they spread out their studying over several days, so she creates
Ainat [17]
The participants were tested according to the number of days they Mandarin every 20 minutes. It's been testing which would be the best model to study a foreign language. This is an experimental study of identifying the most effective method based on the experiments.
8 0
3 years ago
What is the difference between SG&A costs and Indirect costs?
nlexa [21]

SG&A is an initialism used in accounting to refer to Selling, General and Administrative Expenses, which is a major non-production cost presented in an income statement.

Indirect costs are costs that are not directly accountable to a cost object. Indirect costs may be either fixed or variable. Indirect costs include administration, personnel and security costs. These are those costs which are not directly related to production. Some indirect costs may be overhead.

6 0
3 years ago
Assume that the reserve requirement for the commercial banks is 25%. If the Federal Reserve Banks buy $3 billion in government s
faltersainse [42]

Answer:

The lending ability will increase by $2.25 billion.

Explanation:

The reserve requirement is given at 25%.

If federal reserve bank buys $3 billion in government securities, the total reserve will increase by $3 billion.

The excess reserve will be

=Increase in total reserve-required reserve

=$3 billion-25% of $3

=$(3 billion- .25*3) billion

=$(3-0.75) billion

=$2.25 billion

5 0
3 years ago
Other questions:
  • The Peter's Group originated four years ago, and since then, the company has grown each year. Management has focused on making s
    6·1 answer
  • Espresso Express operates a number of espresso coffee stands in busy suburban malls. The fixed weekly expense of a coffee stand
    6·1 answer
  • Mention four things to consider before starting a business
    12·1 answer
  • What might a scientist do after choosing a hypothesis​
    5·2 answers
  • Orson takes harrison's car without harrison's permission and without just cause. orson has probably committed the tort of conver
    8·1 answer
  • If the unemployment rate is 9 percent and the natural rate of unemployment is 5 percent, then the:___________. A. frictional une
    10·1 answer
  • Evening Star, Inc. produces binoculars of two quality levels: field and professional. The field model requires six direct-labor
    10·1 answer
  • Channing Corporation makes two products (A1 and B2) that require direct materials, direct labor, and overhead. The following dat
    13·1 answer
  • *
    12·1 answer
  • What are the five essential elements of an enforceable contract according to roger 2012 essentials of business law?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!