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Mazyrski [523]
3 years ago
8

Which of the following statements about the price elasticity of demand is correct? The price elasticity of demand for a good mea

sures the willingness of buyers of the good to buy less of the good as its price increases. Price elasticity of demand reflects the many economic, psychological, and social forces that shape consumer tastes. If good x has close substitutes and good y does not have close substitutes, then the demand for good x will be more elastic than the demand for good y. All of the above are correct.
Business
1 answer:
cupoosta [38]3 years ago
7 0

Answer:

The answer is: The price elasticity of demand for a good measures the willingness of buyers of the good to buy less of the good as its price increases.

Explanation:

The price elasticity of demand measures the change in the quantity demanded of a product in relation to a change in its price.

The formula for determining the price elasticity of demand (PED) is:

PED = % of the change in Quantity Demanded / % of the change in price

If a good has a high PED (≥ 1) then it is called elastic, which means that any change in the price will change the quantity demanded in a greater proportion. If a good has a low PED (≤ 1) then it is called inelastic, which means that any change in the price will affect the quantity demanded in a smaller proportion.

Usually goods or services considered luxurious (e.g. gourmet cheese), tend to be very elastic (high PED). While products considered basic necessities (e.g. gasoline) tend to be very inelastic (low PED).

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mr_godi [17]

Answer:

$6 per machine hour

Explanation:

Predetermined overhead rate=Estimated total overhead/Estimated machine hours

Predetermined overhead rate = $1,200,000 / 200,000 hours  

Predetermined overhead rate = $6 per machine hour.

Thus, the predetermined overhead rate is $6 per machine hour

7 0
3 years ago
A purchase of supplies for cash is recorded in the a.purchases journal b.cash payments journal c.revenue journal d.cash receipts
sergejj [24]

Answer: A purchase of supplies for cash is recorded in the cash payments journal.

8 0
3 years ago
If the public decides to hold more currency and fewer deposits in banks, bank reserves a. decrease and the money supply eventual
romanna [79]

If the public holds money, supply does not change, however, bank reverse will decrease, option C is correct.

<h3>What is Money Supply?</h3>

In simple terms, it can be defined as the total amount or volume of money in public or the volume of money in possession of the public.

When the bank holds a large amount of money than the public, the money in circulation will decrease.

Learn more about Money Supply here:

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7 0
2 years ago
Mr. Reber thought Ms. Bissett was the ideal employee. Bissett was an impressive person and attended all social functions of the
inn [45]

Answer:

D) overemphasizing some issues and underemphasizing others

Explanation:

Apparently Ms. Bisset has a lot of good qualities as an employee and human being, but her supervisor, Mr. Reber is behaving as if all her actions were great, when they are not. Generally performance appraisals do not focus on only one activity or performance measurement, it is more like a weighted appraisal. But that doesn't mean you should focus only on the tasks that you want an forget about the rest.

It is very uncommon that someone will do great n every single aspect or category, e.g. good salespeople are very competitive and depending on how sales are distributed (by sector, region or not differentiated at all) may not be very social or hopeful with their coworkers. People who like accounting are boring, no one is perfect.

The problem here is that Mr. Reber likes Ms. Bisset a little too much, and he is considering only her good qualities as important, when a salesperson can have many defects, but he/she must be able to sell. It's like a pitcher that cannot pitch, they are useless for that position. Maybe she could work somewhere else in the company that better fits her abilities.

7 0
4 years ago
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lisov135 [29]

<u>Answer:</u>

<em>B2B marketers promote their products directly to final consumers. Business demand increases.</em>

<u>Explanation:</u>

Marketing business-to-business (B2B) is different from marketing business-to-consumer (B2C). Although you still are selling a product to a person, experience shows that the difference between these two types of markets runs deep. B2B clients often need to prove a return-on-investment for their purchase.

8 0
3 years ago
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