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devlian [24]
3 years ago
5

Suppose the demand curve for a product is represented by a typical downward-sloping curve. Now suppose that the demand for this

product increases. Which of the following statements accurately predicts the resulting increase in price?
A. The more elastic the supply curve, the greater the price increase.
B. The more elastic the supply curve, the smaller the price increase.
C. The increase in price is not affected by the elasticity of the supply curve.
D. There will be no increase in price if the supply curve is perfectly inelastic
Business
1 answer:
Dimas [21]3 years ago
8 0

Answer:

B. The more elastic the supply curve, the smaller the price increase.

Explanation:

If the demand for the product increases, demand would exceed supply and a scarcity would occur. The scarcity would lead to a rise in price and fall in quantity.

The severity of the scarcity depends on how fast supply is to respond to the scarcity. If supply can easily respond to the increase in price by increasing supply, the smaller the price increase would be.

Supply is elastic if a small change in price leads to a greater change in the quantity supplied.

I hope my answer helps you

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Consequences of migration on the receiving country​
Sergeeva-Olga [200]

Answer:

Economic growth

 Migration boosts the working-age population.  Migrants arrive with skills and contribute to human capital development of receiving countries. Migrants also contribute to technological progress. Understanding these impacts is important if our societies are to usefully debate the role of migration.

3 0
3 years ago
Your grandmother tells you a dollar doesn't go as far as it used to. She says the " purchasing power" of a dollar is much less t
Harrizon [31]

Answer:

See below

Explanation:

My grandmother is referring to the effect of inflation on the currency. Economist defines inflation as the general but gradual increase of prices in the economy over time. As a country experiences economic growth, prices of goods and services tend to increase. The government monitors the increase in prices using tools like the consumer price index (CPI). The resultant figure from the CPI is the inflation rate.

The government desires to keep the inflation rate at a predetermined optimal level. Should the economy grow at a fast pace, the inflation rate will probably rise. The government will respond with measures to control the growth and maintain stable prices.

An increase in prices means that the dollar will buy fewer goods and services than it could previously. A high inflation rate means prices are increasing at a fast pace. The dollar will buy fewer goods, which translates to dollar weakening.

Deflation is the opposite of inflation. It means a general decrease in price in the economy. During deflation times, the dollar gains strengths. It buys more goods and services than in the previous season.

4 0
3 years ago
The Fabricating Department started the current month with a beginning Work in Process inventory of $10,000. During the month, it
Natalka [10]

Answer:

$13,000

Explanation:

Calculation for what The ending balance of the Work in Process Inventory account for the Fabricating Department is:

Beginning Balance 10,000

Add Direct Materials 76,000

Add Direct Labor 24,000

Add Factory Overheads 12,000

(50% *24,000)

Less Work Transferred (109,000)

Ending Balance $13,000

Therefore The ending balance of the Work in Process Inventory account for the Fabricating Department is:$13,000

6 0
3 years ago
Assignment Background Ellie Johnson Associates surveys American eating habits. The company's 1) Using the General Journal tab, c
Sav [38]

Answer

The answer and procedures of the exercise are attached in a microsoft excel document.  

<em>You didn´t post the complete information of the exercise, I searched the exercise online and tried to ask the most useful question.</em>

<em> </em>

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

Download xlsx
5 0
3 years ago
Corporations are classified into one or more categories that reflect their overall _______. (choose all the correct answers)
Sophie [7]

Companies are divided into one or more categories based on their general objectives; capitalization and structure (also location).

<h3>What do corporation do?</h3>

A corporation is a type of legal entity with the power to hold property, sign contracts, and bring and receive legal actions. It is a group of people who collaborate to make a profit on their investment, comprising labour and monetary suppliers.

<h3>Who or what owns a corporation?</h3>

A corporation's owners are its shareholders, usually referred to as stockholders, who acquire an interest in the company by acquiring shares of stock. A board of directors is chosen by shareholders, and they are in charge of running the business.

Learn more about stockholders: brainly.com/question/28017828

#SPJ4

5 0
1 year ago
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