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4 years ago

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

2 answers:

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>

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.

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Andrew is a financial planner and charges fees of 2% for every investment made. He made investments worth $500,000. What amount

eduard

Fees charge = 2%
Investment worth = $500,000
Amount due = 2/100 * 500,000 = 10,000
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3 years ago

Which characteristics describe customers who are more likely to have high assets and medium-low debt?

Zielflug [23.3K]

Customers with credit cards with no balance are more likely to have high assets and medium-low debt.

<h3>What do you mean by Credit card?</h3>

A credit card is a small rectangular or metal piece of paper issued by a bank or financial services company, which allows cardholders to borrow money to pay for goods and services from merchants who accept cards to pay.

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Thus, Customers with have credit cards with no balance are more likely to have high assets and medium-low debt.

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2 years ago

Restaurant Brands International Inc. (RBI) describes itself as follows in its first Restaurant footnote: "We franchise and opera

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Answer and Explanation:

Data provided

Depreciation = $185 million

The Journal entry is shown below:-

Depreciation expense $185 million

To Accumulated depreciation $185 million

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3 years ago

Pheasant Co. can further process Product B to produce Product C. Product B is currently selling for $30 per pound and costs $28

Gnom [1K]

Answer:

differential cost of producing product C = $24 per pound

Explanation:

given data

B currently selling = $30 per pound

produce cost = $28 per pound

C would sell = $60 per pound

produce additional cost = $24 per pound

to find out

What is the differential cost of producing Product C

solution

we get differential cost of producing product C is express as

differential cost of producing product C = cost of (B+C) - cost of B .............1

put here value we get

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3 years ago

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Certain types of contracts must be in writing pursuant to the statute of "frauds".

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