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
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.

You might be interested in
An effective minimum wagea. imposes a price ceiling on the wages of various categories of low-skill workers.b. increases the dem
Strike441 [17]

Answer:

d. increases the earnings of some low-skill workers while reducing the employment and training opportunities available to others.

Explanation:

Minimum wage is a form of price floor. It is the lowest amount that should be paid to labour for their services rendered. It is usually set by the government or an agency of government.

Minimum wage causes supply of Labour to exceed demand for Labour. Firms would demand less of Labour because of higher cost of Labour. Decreased demand for Labour would increase unemployment.

Minimum wage isn't a price ceiling but a price floor.

Minimum wage increases the income of Labour.

5 0
3 years ago
LO 4.4Assigning indirect costs to specific jobs is completed by which of the following?
LUCKY_DIMON [66]

Answer:

using the predetermined overhead rate

Explanation:

The indirect cost is also known as the overhead cost. The overhead cost are those cost which is related to the factory expenses like - depreciation, property taxes, utility expense, rent expense, repairs expense, indirect labor, and indirect material cost, etc

As we know

Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours) or (estimated machine labor-hours)  

As the case maybe

By using the predetermined we can easily allocate the indirect cost to the specific cost

6 0
3 years ago
Was the loss of traditional manufacturing inevitable in the U.S. economy? 2) Can the United States hold on to its current manufa
Allisa [31]

Answer:

1. Financial analysts and business examiners would concur such occupation misfortunes were inescapable. U.S. organizations developed from a horticultural economy to the present assistance and innovation based economy.  

2. As the case noticed, this will be troublesome. Be that as it may, insofar as American specialists remain the most talented on the planet and business people keeps on enhancing with new advancements and items, U.S. assembling will endure.

4 0
3 years ago
Read 2 more answers
What is the capital gains tax? ill give 20 points to whoever answers
Nuetrik [128]

Answer:

a capital gains tax (CGT) is a tax on the profit realized on the sale of a non inventory asset . The most common capital gains are realized from the sale of stocks,bonds,precious metals , real estate , and property

8 0
2 years ago
Which date is correctly typed for a letter?
schepotkina [342]
A. Or D.
Explanation...
4 0
3 years ago
Other questions:
  • At what point should you start discussing your design and content plans with your client?
    15·1 answer
  • A chemical company claims that they are able to produce a certain product through a thermodynamically unfavored process. explain
    10·1 answer
  • Account ing 3-5A page 125<br>what the Answer please?
    7·1 answer
  • On January 1, Power House Co. prepaid the annual rent of $10,140. Prepare the journal entry to record this transaction.
    13·1 answer
  • A TIPS was issued with a par value of $1000, a coupon rate of 2.5 percent, and a reference CPI of 204.89. What is the correct ca
    8·1 answer
  • Given an interest of $11,900 at 6% for 50 days (ordinary interest) calculate the principal
    13·1 answer
  • Suppose sweden produces only tablets and smartphones. The resources that are used in the production of these two goods are not s
    10·1 answer
  • Sandra has been working for six months at TUV Technologies. During that time she has compiled an impressively long list of names
    7·1 answer
  • A region is in the middle of a very cold and snowy winter. As a result, hot chocolate has become more desirable, and many of the
    12·1 answer
  • Katrine doesn't understand all of the various aspects of automobile insurance and relies on her local independent State Farm Ins
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!