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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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Antique Brass Company has budgeted sales volume of 127 comma 000 units and budgeted production of 110 comma 000 ​units, while 30
olga55 [171]

Answer:

13,000 units

Explanation:

The excess of budgeted sales over budgeted production = 127,000 - 110,000 = 17,000 units. In other words, this is the number of units that the company will be in short of.

The company has 30,000 units in beginning inventory, thus the amount of ending finished goods inventory will be = 30,000 - 17,000 = 13,000 units

7 0
3 years ago
The first US Airline:
olga2289 [7]

Answer:

Western Air Express

5 0
3 years ago
Read 2 more answers
Encouraging buyer feedback and focusing on creating value for the buyer are both key requirements for an effective _____. Group
german

Answer:

<u>Sales Dialogue.</u>

Explanation:

Feedback is an important strategic tool for the sales area.

Encouraging the buyer to provide feedback is an effective sales dialogue strategy, which focuses on creating value for the buyer, as creating value for a customer is related to the customer's ability to exercise his opinion about the product or the purchasing process, in addition to feeling valued and improving the perception of the company, which values ​​the feedback of its customers.

In addition to creating value, feedback is a tool for correcting problems and processes resulting from a service or a product and service, which enables a company to correct possible errors found and improve the positive points observed in the analyzed feedbacks.

7 0
3 years ago
The passage suggests that the high inflation in the United States and many European countries in the 1980's differed from inflat
vlabodo [156]

Answer:

E) It would not necessarily be considered high elsewhere.

Explanation:

The US inflation rate during 1979 was 11.26%, during 1980 it was 13.55%, and during 1981 it was 10.33%. These numbers may seem very high for American standards, but they aren't really high once you compare them to other nation's inflation rate.

For example, if we look at what is happening in two South American countries right now; Currently Venezuela is facing a hyperinflation measured by millions, and Argentina's current inflation rate is around 60%.

Back in the 1980s, hyperinflation rates were much more common. Argentina, Bolivia, Brazil, Mexico, Peru and Nicaragua, all suffered from hyperinflation (inflation rates in the 1,000s).

The US dollar is considered a very stable currency, that is why an inflation rate of around 10% was considered extremely high for American standards, but not so high compared to the rest of the world.

5 0
3 years ago
On November 1, 20X1, Starbucks paid the rent of $90,000 for 40 of its stores in Colorado and Nebraska. The rent covers the perio
vazorg [7]

Answer:

Part (1) November 1

The amount paid is the rental advances and must be recorded as advances which falls under the current asset category:

Dr Rental Advances $90,000

Cr        Bank account             $90,000

Part (2) December 31

On this date, some of the rental advances paid would be realized as expenses from the period November 1, 20X1 to December 31, 20X2.

This time duration constitutes to 2 months and the rental advance made on November were for five months. Out of these 5 months, 2 months share must be recognized as expense which is

The relevant entry would be:

Dr Rental Expenses $36,000

Cr                Rental Advances $36,000

8 0
3 years ago
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