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
Svetllana [295]
3 years ago
12

Suppose that at a price of $8, 13,600 units were sold while at a price of $6, 15,200 units were sold. Without calculating the va

lue of price elasticity of demand , can you determine whether demand is elastic, unit elastic, or inelastic between the price of $6 and the price of $8?
Business
2 answers:
HACTEHA [7]3 years ago
5 0

Answer:

Inelastic between the price of $6 and the price of $8

Explanation:

At price $8, the total expenditure ;

= price * Quantity

=$8 * 13600

=$108,800

At price $6, the total expenditure;

=$6 * 15200

=$91,200

Since the total expenditure is decreasing with a decrease in price then the elasticity of demand will be inelastic.

Doss [256]3 years ago
5 0

Answer:

Inelastic

Explanation:

The elasticity of demand is the response of consumers to a change in the price of a product (Barnier, 2020). It is calculated as the percentage change in the quantity demanded divided by the percentage change in price.  

Looking at the number of units sold at each price ($6 and $8), we can determine that the demand is inelastic. The percentage change in demand is smaller than the percentage change in price.  This means that the demand curve will be steep.

You might be interested in
A company had $43 missing from petty cash that was not accounted for by petty cash receipts. The correct procedure is to:
iVinArrow [24]
Answer: The correct procedure is to “debit cash over and short for $43”.
6 0
2 years ago
Regional Economic Integration Threats (textbook) In a way, price differentials in the same economic integration would decline in
Svetach [21]

Answer:

TRUE

Explanation:

The integration of countries from the same region into a trade bloc has the purpose of free movement of goods and services among lower-priced member countries. This is because from integration, countries give up tariffs and customs barriers, allowing products to be marketed to everyone at a lower cost, aiming at the common good. If countries use the same currency, the benefits of integration are even greater as they eliminate currency conversion costs.An example of this type of integration is the European Union, where products move freely between member countries and are sold in the same currency, the euro.

6 0
3 years ago
Suppose that there are 50 firms in a monopolistically competitive industry in country A and 50 firms in the same monopolisticall
blondinia [14]

Answer:

The total number of firms in this industry will decrease in the long run because  increased competition will mean lower profit margins which will lead to some firms earning sub normal profits which will force them to leave the industry.

Explanation:

3 0
3 years ago
A primary market would be utilized when:
babymother [125]

Answer:  Option C

Explanation: Primary market refers to the market in which the securities are sold to the general public for the first time by the companies. In simple words, the initial public offering process takes place in such markets. The securities could be of any type whether debt, equity or preference.

The market in which existing securities are bough and sold is called secondary market. And the commission is paid in both secondary and primary market.

Hence the correct option is C.

7 0
4 years ago
As a general rule concerning job offers, it can be said that __________. select one:
AlladinOne [14]
As a general rule concerning job offers, it can be said that <span>"competitive" job offers tend to leave room to negotiate</span>. When a company decides they want to hire a person, they make a job offer that lays out what they are giving the person in return for their employment. They explain the benefits and their job duties. Because job offers are competitive they leave room for the person being hired to negotiate terms before they both agree on them. 
7 0
3 years ago
Other questions:
  • For each item listed below, indicate the allocation terminology for the item. Use the following terms for your answer:
    13·1 answer
  • Do you think Harvey has a good investing strategy?
    11·2 answers
  • ​________ management deals with managing a​ company's finances in a way that achieves the highest rate of return.
    7·2 answers
  • During May, 2018, Sugar Inc. performs consulting services. The client does not pay Sugar until June, 2018. Multiple Choice Using
    9·1 answer
  • Ceteris paribus, when the price of tuition increases, fewer people will choose to go to college. What do we mean by ceteris pari
    9·1 answer
  • Ralph Lauren sells suits and ties. Suits sell for $1000 each, and cost $300 in variable expenses to make each. Ties sell for $10
    15·1 answer
  • Write the relationship between audit and finance?
    9·1 answer
  • According to information provided in the chapter, McDonald’s has been involved in a variety of corporate social initiatives. Giv
    10·2 answers
  • Identify each CSTO from its description
    13·1 answer
  • Intelligence is analyzed information which in turn becomes decision-making intelligence when it has ramifications for the firm.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!