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Usimov [2.4K]
3 years ago
11

If a 1 percent decrease in price results in less than a 1 percent increase in the quantity demanded, demand is Multiple Choice c

ross-price elastic. price inelastic. price elastic. status quo elastic. derived demand inelastic.
Business
1 answer:
Vlada [557]3 years ago
3 0

Answer:

The correct answer is price inelastic.

Explanation:

The price elasticity of demand is the measure of the responsiveness of quantity demanded of a product to the change in its price. It is calculated as the ratio of change in quantity demanded and change in the price.

Relatively inelastic dmeand refers to the situation where a proportionate change in price causes less than proportionate change in quantity demanded.

Here, if a 1% decrease in price causes less than a 1% increase in quantity demanded then the demand is relatively inelastic.

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Lisa [10]

C. price index

is the correct answer to the questions

Question 1 of 10

A. is a measure of change in the prices of goods from one period to

another

A. sanction

B. quota

оо O

C. price index

D. subsidy

SUBMIT

3 0
3 years ago
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Assume you are going to lunch and have a choice of two meals. The first meal would give an increase in marginal utility of 100 w
pantera1 [17]

Answer:

C) Third

Explanation:

The first meal gives you 4 units of utility for every dollar spent (= 100 utility / $25).

The second meal gives you 5 units of utility for every dollar spent (= 10 utility / $2).

The third meal gives you 10 units of utility for every dollar spent (= 50 / $5). We should choose the meal that provides us with the greatest utility per dollar.

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3 years ago
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Suppose the country of Lilliput exported $ 293 billion worth of goods and imported $ 405 billion worth of goods in the last cale
wlad13 [49]

Answer:

A trade deficit.

Explanation:

Given that,

Value of exports = $293 billion

Value of imports = $405 billion

Balance of trade refers to the difference between a country's value of exports and its value of imports for a given time period.

Balance of trade:

= Value of exports - Value of imports

= $293 billion - $405 billion

= -$112 billion

Therefore, this country has a negative trade balance and it is reflected as a trade deficit.

7 0
3 years ago
Which is not capital?
KiRa [710]
C Is The Answer I Just Took This My E2020.
6 0
3 years ago
Industrial Equipment Supply is a new business. During its first year of​ operations, credit sales were $ 45 comma 000and collect
Andrei [34K]

Answer:

$600

Explanation:

The written down amount is $725, which is bad debt and provision is not required for it.

The increase in allowance for bad debt is always Written Off by using the provision and at the year end the amount that must have been written off is $600 which is the increase in the provision. This means that the Allowance for Bad Debts is​ $600.

3 0
3 years ago
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