1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lakkis [162]
4 years ago
15

Which of the following statements correctly characterizes the elasticity of demand for food? a. While food demand is not very re

sponsive to changes in price, increases in income produce big increases in the demand for food. b. As income increases, the quantity demanded of food decreases. c. If the price of food falls by 5 percent, quantity demanded will rise by less than 5 percent. d. People consume the same amount of food regardless of the price of food.
Business
1 answer:
Nezavi [6.7K]4 years ago
8 0

Answer:

b. As income increases, the quantity demanded of food decrease

Explanation:

food weights for individuals whose income is sufficient enought to keep them healty and feed will not increase their food consumption much else. That's because, their already have it covered and want to saisfy new needs

The demand for food is only high at low levels of income.

You might be interested in
Do you think that their economy will be strong when they have to write off debt from countries that have borrowed heavily from t
Kobotan [32]

Answer:

Yes

Explanation:

7 0
3 years ago
Kroger decided to introduce a new product that appeals to Hispanic consumers. While the product is highly successful among Hispa
Leto [7]

Answer: Target market

Explanation: The target markets refers to the group of customers at which an organisation aims its marketing efforts. In simple words, it is that market in which the organisation intends to make it sale for the generation of profits.

In the given case, Kroger is introducing a product that satisfies needs and preferences of Hispanic customers specially. So we can conclude that Hispanic consumers are the target market for Kroger.

4 0
3 years ago
Assume a certain firm regards the number of workers it employs as variable but regards the size of its factory as fixed. This as
Wittaler [7]

Answer: a. in the short run but not in the long run

Explanation:

The Short Run is usually considered in Economics/ Business as a point in time where at least ONE factor of production is FIXED. This factor is usually the Factory because it is hard to change the capacity of a Factory in the Short run. For instance a wing might need to be constructed. Labour on the other hand is considered variable in the Short run though because more people can be hired and the people already hired can put in more overtime.

The Long Run is classified as a point where EVERY factor of production is Variable. There is enough time to even change the capacity of a Factory. So here even Factory is Variable.

5 0
3 years ago
A bank is legally required to hold a fraction of its ________ as ________. deposits; required reserves deposits; excess reserves
GaryK [48]
<span>A bank is legally required to hold a fraction of its deposits as required reserves. These regulations are a requirement and set by most banks around the world. They set minimum amounts that must be held all the type to serve as a reserve in case of an </span>emergency. 
5 0
3 years ago
How often should you typically monitor your checking account?
Gekata [30.6K]
As often as possible.
7 0
3 years ago
Other questions:
  • Viable strategic options companies should consider in tailoring their strategy to fit circumstances of emerging country markets
    5·1 answer
  • "Choate International plans to issue $15 million in 10-year bonds. They believe they can afford to pay $1,150,000 in interest to
    15·1 answer
  • Which of these is a way that politicians in the United States attempt to influence the media?
    13·2 answers
  • If a firm is interested in improving their human capital which are they most likely to consider
    5·1 answer
  • List four factors you should consider when selecting a financial institution.
    5·1 answer
  • Astrid currently consumes only milk and honey. She drinks four quarts of milk priced at $3 per quart and gets 30 utils for the l
    11·1 answer
  • What is mean, meadian, mode ?
    11·2 answers
  • A Japanese investor can earn a 1 percent annual interest rate in Japan or about 4.1 percent per year in the United States. If th
    7·1 answer
  • Placing barcodes on multiple sides of products and not bagging groceries are examples of ____________________ which allow Aldi t
    12·1 answer
  • BALANCE SHEET Evaluation
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!