The statement that must be true about the demand for a product if it is inelastic is that, a price increase does not have a significant impact on buying habits. The correct answer would be option B. When the demand is inelastic, this situation means that the demand for a product does not decrease nor increase in corresponds to the rise or fall of its price.
Answer:
$1.02 or 102 cents
Explanation:
According to given information
Total consumption Time = 120 Hours
Cost Saving per hour = Cost per hour x Saving in kilowatts per hour
Cost Saving per hour = Cost per hour x ((100 watts - 15 watts) / 1000)
Cost Saving per hour = $0.1 x (100-15)/1000 = $0.0085 kwh
Total Cost Saving = 120 x 0.0085 kwh = $1.02 or 102 cents
Answer:
The correct answer is letter "B": the excess of sales revenue over variable cost.
Explanation:
In its most simple form, contribution margin is calculated by subtracting variable costs and expenses from revenues. Contribution margin represents a part of the company's revenues that are not allocated for variable cost. Thus, that portion is used to pay the firm's fixed costs. Contribution margin is low usually for <em>labor-intensive</em> entities while <em>capital-intensive</em> companies tend to have a higher contribution margin.
Answer: Distortion
Explanation:
Distortion is the term which is basically refers to the change or the exaggeration about the products and the services information in the market by the producers then this perceptual processing is called as the distortion.
The market distortion is usually occur due to the inconsistent in the beliefs of the customers bu altering the given data or any type of information in the ideas, image and the thoughts.
According to the given question, the given perceptual process about the receive information by the customers is known as the distortion. Therefore, Distortion is the correct answer.