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Nina [5.8K]
3 years ago
9

In which of these instances is demand said to be perfectly inelastic?

Business
1 answer:
Murljashka [212]3 years ago
5 0

Answer:

b. A decrease in price of 2% causes an increase in quantity demanded of 0%.

Explanation:

By definition, the demand is said to be <em>perfectly inelastic</em> when no matter how much the price of a good changes, you will still be consuming the same exact amount as you did before the price changed.

Keeping this in mind, we know that the price may increase or decrease in 2%, but the demanded quantity will not have any change at all (people won't consume less or more).

So, now we know that the correct answer is <em>b, </em>because a decrease in price of 2% causes an increase in quantity demanded of 0% - in other words, people's purchase decision weren't influenced by the change in the price.

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The unemployment rate reported by the Bureau of Labor Statistics includes all of the following type of unemployment with the exc
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The correct answer for the question that is being presented above is this one: "hidden unemployment." The unemployment rate reported by the Bureau of Labor Statistics includes all of the following type of unemployment with the exception of hidden employment.
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3 years ago
If the demand for an item increases,what effect will it have an price and quantity? A) price will increase and quantity increas.
vodka [1.7K]

Answer:

A) price will increase and quantity increase.

Explanation:

An increase in demand means more customers are willing and can afford to buy a product. Holding the other factors constant, an increase in demand results in many potential buyers chasing very few goods. The competition for the few goods leads to an increase in their prices. The equilibrium point moves up the graph to a new higher position as a result of an increase in demand.

As per the law of supply, quantity supplied increases as prices rise. Profit motives drive all business establishments. As prices increase due to increased demand, suppliers will be motivated to supply more to take advantage of high prices.

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3 years ago
One reason buy a home instead of rent a home is
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3 years ago
Income Statement (in Millions of Dollars) Net sales $100.0 Cost of sales 60.0 Selling, general, and administrative expenses 20.0
frez [133]

Answer:

the balance sheet is missing:

Balance Sheet  (In millions of Dollars)

ASSETS

Cash                                     $6.0

Accounts Receivable              14.0

Average Inventory                   12.0

Fixed Assets, net                  40.0

TOTAL ASSETS                 $72.0

LIABILITIES AND EQUITY

Accounts Payable                $10.0

Salaries and Benefits Payable   2.0

Other current Liabilities            10.0

Long-term debt                         12.0

Equity                                     38.0

TOTAL LIABILITIES AND EQUITY                     $72.0

a. Determine the length of the inventory conversion period.

  • inventory conversion period = average inventory / (COGS/365) = 73 days

b. Determine the length of the receivables conversion period.

  • receivables conversion period = accounts receivables / (net sales/365) = 51.1 days

c. Determine the length of the operating cycle.

  • length of operating cycle = 73 + 51.1 = 124.1 days

d. Determine the length of the payables deferral period.

  • length of the payables deferral period = accounts payables / (COGS/365) = 60.83 days

e. Determine the length of the cash conversion cycle.

  • cash conversion cycle = 73 + 51.1 - 60.83 = 63.27 days

f. What is the meaning of the number you calculated in Part e?

  • How long does it take to turn inventories into cash, it is a measure of asset liquidity.
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3 years ago
Market &amp; entreprenurship<br>are two sides of a coin<br>Justify by example <br>​
VladimirAG [237]

Answer:

The analysis for this type of situation has been presented elsewhere here.

Explanation:

  • The face of something like a coin would be typically referred to as one of the head, although it sometimes describes this same head of such a high profile individual, as well as the back of the tail.
  • Throughout disciplines of diploma nearby numismatic coins, this same phrase area has been more frequently than using front, when the utilization of opposite direction has been widely spread.
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3 years ago
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