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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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ZanzabumX [31]

Answer:

total amortization expense = $5400

so correct option is C) $5,400

Explanation:

given data

purchase price = $67,500

time period = 75 months

months  = 6th

to find out

total amortization expense

solution

we get here total amortization expense that is express as

total amortization expense = \frac{purchase\ price}{time\ period} ×months  ...............1

put her value we get

total amortization expense = \frac{67500}{75} × 6

total amortization expense = $5400

so correct option is C) $5,400

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Answer:

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