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Zina [86]
3 years ago
11

When the price of milk goes up, demand does not fall significantly, because people still need to buy milk. However, if the price

of T-bone steaks rises beyond a certain point, people will buy fewer of them because they can turn to the many substitutes for this cut of meat. This refers to price elasticity of demand.
A. True
B. False
Business
1 answer:
Hunter-Best [27]3 years ago
3 0

Answer:

A. True

Explanation:

Price elasticity of demand indicates how the changes in the price of a commodity affect its demand. Price elasticity is a measure of how the demand for a good or responds to changes in prices. Goods or service is said to be price elastic if a small change in price has a substantial effect on the quantities demanded.

A product is price-inelastic when a  change in prices does not have a big impact on its demand. in other words, the demand for that product is not affected by changes in price. Milk is price inelastic as people changes in its price has little effect on demand. People still need milk; a small change in price will not stop them from consuming it.

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I believe the answer is:

High school athletes stop shopping there.


The inventory of sports socks goes unsold.

High school athletes tend to need the type of shoes that help in their mobility and tend to posses high level of endurance. These characteristics do not exist in Dress shoes. When high school athletes stop buying their shoes on the store, the number of stocks in the inventories tend to stay stagnant since it could not find customers.

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3 years ago
One of the likeliest places to be involved in a property-damage only accident is?
sesenic [268]

Place your car in "park."

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When a vehicle collision occurs, it might be stressful, but it's crucial to keep in mind that your safety is always the top priority. Immediately upon being involved in a collision, keep in mind the following advice:

Verify your own health and the health of any passengers.

If you require medical asisstance or can't move your car, call "911" and follow the operator's instructions.

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According to ______________, stock prices react instantaneously, completely and accurately to all publicly available information
Lelu [443]

Answer:

Theory of Efficient markets

Explanation:

According to this theory stock prices react instantaneously to new information

4 0
3 years ago
Stockholders’ equity totaled $94,000 at the beginning of the year. During the year, net income was $24,000, dividends of $9,000
Scilla [17]

Answer:

$131,000

Explanation:

Given that,

Stockholders’ equity at the beginning = $94,000

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Dividends paid = $9,000

Common stock issued = $22,000

Stockholders' equity at the end:

= Stockholders Equity at the beginning + Net Income - Dividend + Common stock issued

= $94,000 + $24,000 - $9,000 + $22,000

= $131,000

Therefore, the total stockholders' equity at the end of the year is $131,000.

7 0
3 years ago
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