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
Irina-Kira [14]
3 years ago
14

The demand for gold toe socks is likely to be more elastic than the demand for power tools because:

Business
2 answers:
Zinaida [17]3 years ago
3 0
<span>The demand for gold toe socks is likely to be more elastic than the demand for power tools because, generally speaking, power tools would be a bit more expensive than gold toe socks would be, and they also may have more substitutes than power tools would have.</span>
PIT_PIT [208]3 years ago
3 0

<u>The demand for gold toe socks is likely to be more elastic than the demand for power tools because the gold toe sock has more substitutes than the power tools </u>

<u> </u>

Further Explanation:

Price Elasticity: It measures the sensitivity of the demand for the services and goods to the change prices. If the demand is elastic then, the small change in price will result in the change in demand. If the demand is elastic then, the change in price will not effect the demand of the commodity.

The number of subsitutes available effects the elasticity of demand. If the number of subsitutes available is more then, demand will be elastic or vice versa. In the case of gold toe sock, there are many substitutes available that can replace the gold toe sock so the demand is elastic. But the  

demand for power tools is less elastic because it has fewer subsitutes.

Learn more:

1. Demand and type of goods

  brainly.com/question/11220857

2. Demand and supply of goods

   brainly.com/question/11045011

3. Elasticity of demand

   brainly.com/question/2396092

Answer details:

Grade: High School

Subject: Economics

Chapter: Elasticity of demand

 

Keywords: The demand for gold toe socks is likely to be more elastic than the demand for power tools because, the gold toe sock has more substitutes than the power tools.

You might be interested in
Farmer Joe is planning to purchase a new hog farm. He anticipates making $20,000 the first year, $25,000 the second year and $30
Pachacha [2.7K]

Answer:

The simple rate of return is 37.5%

Explanation:

Simple rate of return is the percentage of return on investment that takes the net annual return cash flow of an investment and compare with initial capital of the investment. It is calculated with this formula:

<u>Total annual return - Depreciation expense</u>

                Initial capital outlay

For farmer Joe, the simple rate of return is:

<u>$20,000 + $25,000 + $30,0000 -$0</u>     x   100

                    $200,000

=   <u>$75,000</u>  x 100

   $200,000

= 37.5%

Depreciation expense is assumed to be zero.

6 0
3 years ago
Last year Christine worked as a consultant. She hired an administrative assistant for $15,000 per year and rented office space (
mel-nik [20]

Answer:

Explicit costs - $51,000

Explicit costs are those for which a person incurs in actual spending of money. In this case, Christine had to pay $15,000 in wages, and $36,000 in rent ($3,000 x 12). These are expenses that she had to pay money for, and that had to be accounted for in the accounting books, and in the financial statements. These are in other words, explicit costs.

Implicit costs - $40,000

Implicit costs are simply the opportunity costs. An opportunity cost is the cost of the next more valuable alternative when faced with two or more options. No money is paid for this costs. The implicit costs for Christine were the $40,000 that she not receive as wages if she had continued working at a real state firm.

8 0
3 years ago
hello are anyone there with free time on there hands i need friends and dont go if i dont answer because my mom is well a mom an
Troyanec [42]

Answer:

ello

Explanation:

I'll be your fren if that's what cha asking :^

5 0
2 years ago
Read 2 more answers
Write expanded notation of 752 863​
tresset_1 [31]
I don’t know if the numbers are supposed to be together or not but if it’s 752,863 than the expanded notation is:
700,000
+ 50,000
+ 2,000
+ 800
+ 50
+ 3
And if it is 752; 863 than the expanded notation is:
700
+ 50
+ 2
;
800
+ 60
+ 3
4 0
2 years ago
Jimmy establishes a Roth IRA at age 47 and contributes a total of $89,600 over 18 years. The account is now worth $112,000. Assu
ValentinkaMS [17]

Answer: $112,000

Explanation:

Jimmy is able to withdraw the entire $112,000 tax-free.

This is because to be able to Withdraw tax-free, one must have deposited money in the IRA for a minimum of 5 years and the person must be at least 59.5 years of age.

Those 2 criteria are met by Jimmy who deposited for 18 years and is now aged 65.

4 0
3 years ago
Other questions:
  • 75 of 100 - jim inherited a property that has not been maintained in years, the property needs new appliances, a roof, new sidin
    7·1 answer
  • A certificate of deposit is a receipt showing that an investor has made an interest bearing loan to a bank or a government or a
    5·2 answers
  • Horses and Harnesses wanted to increase its price for hand-made saddles, but it knew its customers were very price sensitive, so
    14·1 answer
  • Assume that a company announces unexpectedly high earnings in a particular quarter. In an efficient market one might expect ____
    14·1 answer
  • Johnstone’s Realty is a new discount, menu-based brokerage firm. Its approach usually results in a lower listing commission rate
    12·1 answer
  • This is a piece of information that is used to support a main idea. definition
    14·2 answers
  • In terms of innovation streams, what ____ occurred when customers purchased flat-screen computer monitors to replace the older,
    10·1 answer
  • The following transactions occurred during the month of June 2021 for the Stridewell Corporation. The company owns and operates
    15·1 answer
  • A partner can be held liable for a partnership obligation only if he or she participated in, or knew about, whatever it was that
    13·1 answer
  • Benny is self-employed. he’s experienced a bit of success over the last few years and is now ready to purchase a home. he’s meet
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!