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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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The US economy is a command economy.<br> A. True<br> B. False
astra-53 [7]

Answer:

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3 years ago
Every year, General Mills issues a report discussing how the firm has performed against its own standards of conscious marketing
goblinko [34]

Answer:

The correct answer is letter "D": control.

Explanation:

The control phase of the marketing planning process involves comparing the activities that the advertising team has developed with the expected set of actions established. This phase is important to identify if the firm as a whole is meeting the desired performance or if there are adjustments necessary to be made.

7 0
3 years ago
Domestic strategy reflects the choices a firm's executives make with respect to sourcing and selling its
OlgaM077 [116]

Answer:

True.

Explanation:

True. The given statement is true because the domestic strategy refers to the strategy of a company to expand its business and find the new market for their products. So, the new market can be found by internationalizing the goods by the firm. Moreover, early-stage firms focus on the domestic market but as their business grows or production increases then it starts selling its goods and services in foreign markets.

4 0
3 years ago
The cutting edge sells ice skates. total sales are $845,000, total variable expenses are $245,050 and total fixed expenses are $
natita [175]

If the cutting edge sells ice skates. total sales are $845,000, total variable expenses are $245,050 and total fixed expenses are $302,000. the variable expense ratio is: 29%.

<h3>Variable expense ratio</h3>

Using this formula

Variable expense ratio=Total variable expense /Total sales

Let plug in the formula

Variable expense ratio=$245,050/ $845,000

Variable expense ratio=0.29×100

Variable expense ratio=29%

Therefore If the cutting edge sells ice skates. total sales are $845,000, total variable expenses are $245,050 and total fixed expenses are $302,000. the variable expense ratio is: 29%.

Learn more about variable expense ratio here:brainly.com/question/24161829

#SPJ1

3 0
2 years ago
The market segmentation process:a. creates products for several markets that have independent needs. b. offers one version of th
aleksley [76]

Answer:

The correct answer is the option E: divides a market into distinct groups that have heterogeneous needs.

Explanation:

To begin with, the concept known as <em>''segmentation''</em>, in the field of marketing and in the business world, comprehends the process of dividing a market into different groups that have similar needs inside those groups but heterogenous needs among the groups and therefore the process focus in letting the company knows who its target audience actually is and so it can focus only in producing a good that will satisfy that group entirely. Moreover, there are different types of segmentation, such as demographic, geographic, etc.

3 0
3 years ago
Read 2 more answers
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