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I am Lyosha [343]
3 years ago
10

. [5 pts] A life-saving medicine without any close substitutes will tend to have a. a small elasticity of demand. b. a large ela

sticity of demand. c. a small elasticity of supply. d. a large elasticity of supply.
Business
1 answer:
Anna007 [38]3 years ago
8 0

Answer:

The correct answer is the option A: a small elasticity of demand.

Explanation:

To begin with, the concept known as<em> "price elasticity of demand"</em> refers to the relationship that shows how much the quantity demanded of a product will change when the price of it changes. And therefore that it indicates the variation that exists between the price and the quantity demanded for the product.

Secondly, when it comes to products that are highly essential to life, like water, the price elasticity of its demand will be inelastic or what is the same as small elastic due to the fact that it does not matter how much the price changes, the amount demanded by the consumers will stay due to the fact that the product is highly needed in their lives.

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<h3>What is the economic mechanism?</h3>

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4 0
2 years ago
What impact did technology have on modern medicine?
Mashutka [201]
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4 0
3 years ago
M8-1 Evaluating the Decision to Extend Credit [LO 8-1 Nutty Productions Inc. generated service revenue of $48,000 and income fro
emmasim [6.3K]

Answer:

Yes

Explanation:

In this question, we have to compare the total income based on credit extended The computation is shown below:

If credit is not extended, then the total income would be

= Service revenue + income from operations

= $48,000 + $19,000

= $67,000

If credit is extended, then the total income would be

= Service revenue + income from operations - additional expenses for wages and bad debts

= $87,000 + $19,000 - $34,000

= $72,000

Yes the company extend credit as the total income is increased by $5,000

7 0
2 years ago
Inkal Co. was formed on January 1, 2017 as a wholly owned subsidiary of a US corporation. Sinkal's functional currency was the s
defon

Answer:

It would decrease the net assets by $60,800

Explanation:

The computation of the translation adjustment for 2017 is shown below:

For common stock

= Issued amount × (revised exchange rate - exchange rate)

= $1,000,000 × (0.42 - 0.48)

= -$60,000

For dividend

= Dividend paid × (revised exchange rate - exchange rate)

= $20,000 × (0.42 - 0.46)

= -$800

For net income

= Net income × (revised exchange rate - exchange rate)

= $80,000 × (0.42 - 0.42)

= $0

So, it would decrease the net assets by $60,800 ($60,000 + $800)

7 0
3 years ago
Suppose that the full employment level of nominal GDP rises in one year from ​$13.8 to ​$14.2 trillion. The​ long-run equilibriu
vovikov84 [41]

Answer: ​The answer is that, AD has shifted to exactly $0.35 trillion.

Explanation:

It should be noticed that, AD has been shifted to exactly ​$0.35 trillion (Rounded in two decimal places.​) when the the​ long-run aggregate supply curve shifted to the right from one year to the​ next.

6 0
3 years ago
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