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loris [4]
3 years ago
14

The price elasticity of demand for a good is likely to be less elastic​ __________.

Business
1 answer:
mariarad [96]3 years ago
4 0

Answer:

if a change in the price of the good brings about a much smaller change in the quantity demanded for the good.

Explanation:

<em>The price elasticity of demand is a measure of the change in the demand for a good in relation to a change in the price of the same good. </em>Mathematically, the price elasticity of demand for a product is represented as:

Price elasticity = change in the quantity demanded/change in price

The value of price elasticity of demand ranges from 0 to infinity. The price elasticity of demand is

  • relatively inelastic when the value is less than 1,
  • unitary elastic when it is equal to 1,
  • relatively elastic when it is greater than 1,
  • perfectly inelastic when it is equal to 0, and
  • perfectly elastic when the value is infinity.

<u>Less elastic price elasticity of demand is equivalent to relatively inelastic price elasticity. This thus means that the price elasticity of demand is less than 1; a percentage change in the price of the good brings about a disproportionately smaller percentage change in the quantity demanded for the good.</u>

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It is almost impossible to find out exact nutrition composition that exist within a soil. (which will play a huge factor in seed productin). So, to make the data more reliable, it is important to randomly assign plots of land as either the control group or the group that receive special treatment and grow the seed separately.</span>
7 0
4 years ago
The time for the current iteration is up and one of the features isn't complete. What do you do?
VARVARA [1.3K]

Answer:

Stop working and add the incomplete feature back into the backlog.

Explanation:

In case a task could not be completed in the current iteration, it is best to add it to the backlog, so that in subsequent iterations it will be completed (giving it priority, of course).  

Of course, it is not convenient to extend the iteration time just to finish the incomplete task. Also, we should not add it directly to the next iteration because we would be altering its structure. So the most appropriate thing to do, is to leave it marked as a priority to be included in the next iterations.

5 0
3 years ago
An earned value report shows: how much money has actually been spent so far on the project. slippages in performance measures fo
Fynjy0 [20]

An earned value report will likely show all of these measures.

8 0
3 years ago
Suppose the cross-price elasticity of travelling by bus and travelling by train is 0.7. If the price of traveling by bus increas
galina1969 [7]

The quantity of traveling by train would change by 28%.

Cross-price elasticity measures how the quantity demanded of a good is affected by changes in the price of another good.

Cross price elasticity = percentage change in the quantity demanded of good A / percentage change in the price of good B.

0.7 = percentage change in the quantity of traveling by train / 40%

Percentage change in the quantity of traveling by train = 40 x 0.7 = 28%

To learn more about cross price elasticity, please check: brainly.com/question/26035503

8 0
2 years ago
12. Although online shopping accounts for 8 percent of retail sales, it is still a significant share of
White raven [17]

Answer:

true

Explanation:

  • Online shopping is an electronic form of shopping for goods and services. And allows for the direct buyer and seller to interact with each other over the internet. In the U.K about 20% and Australia has 7% and the U.S. about 10% of the retail sales take place through this.
  • The markets in Asia-Pacific have increased the international sales to over 30% giving them over $433 billion in revenue. As customer buying behavior in the digital environment is changing. As every customer is becoming more and more interactive, and though the online reviews customers are influencing other potential buyers in the world.
  • Besides they have a various option like Cash on delivery (C.O.D.) , the direct debit, EFT , the gift cards , the Invoice, especially popular in some markets/countries, the postal money order etc,  hence many new companies are adopting these online shopping channels it will grow more in the future.
8 0
3 years ago
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