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faltersainse [42]
3 years ago
7

Elastic demand exists when:

Business
1 answer:
arlik [135]3 years ago
6 0

Answer:

B. a small percentage decrease in price produces a larger percentage increase in quantity demanded and total revenue increases. 

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Elasticity of demand = percentage change in quantity demanded / percentage change in price

Demand is elastic if a small percentage decrease in price produces a larger percentage increase in quantity demanded . Total revenue would increase because the percentage increase in Quanitity demanded exceeds the percentage decrease in price.

If demand is elastic, a small percentage increase in price produces a larger percentage decrease in quantity demanded and total revenue increases.

Here, total revenue falls because percentage decrease in price exceeds the percentage increase in price. 

Demand is inelastic if a small percentage decrease in price produces a smaller percentage increasein quantity demanded.

Demand is perfectly inelastic if the quantity demanded remains the same regardless of level of price.

I hope my answer helps you

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Type the correct answer in the box. Spell all words correctly.
frosja888 [35]

Answer:

After-sales service

Explanation:

After-sales service are all the efforts of a business to keep its clients happy and satisfied with the products they have purchased. It is providing care to customers after they have made purchases from the business. After-sale service help in retaining and building loyal customers.

Some of the techniques used in after-sales service include

  • Keeping in touch with customers after purchases
  • Responding to customer queries either on call, emails, or customer visit
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3 0
3 years ago
Read 2 more answers
Both the inventory conversion period and payables deferral period use the average daily COGS in their denominators, whereas the
il63 [147K]

Answer:

Explanation:

In business accounting, the inventory conversion period / payables deferral period and average collection period use different inputs due to the fact that Inventory and accounts payable are carried at cost on the balance sheet, whereas accounts receivable are recorded at the price at which goods are sold. Therefore the accounts receivable (average collection period) are attached and dependent on the specific/changing price of the goods sold.

7 0
3 years ago
Were did west African slave traders get their slaves to sell to Europeans ​
Nimfa-mama [501]

Answer:

I don't know but where can i buy

Explanation:

3 0
3 years ago
At the end of Year 2, retained earnings for the Baker Company was $3,350. Revenue earned by the company in Year 2 was $3,600, ex
garik1379 [7]

Answer:

Retained earnings at the beginning of Year 2 is $2,950.

Explanation:

Given the following:

Retained earnings at the end of Year 2 = $3,350

Revenue earned by the company in Year 2 = $3,600

Expenses paid during the period = $1,900

Dividends paid during the period = $1,300

Retained earning for year 2 = Revenue earned by the company in Year 2 - Expenses paid during the period - Dividends paid during the period = $3,600 - $1,900 - $1,300 = $400

Retained earnings at the beginning of Year 2 can be using the following formula:

Retained earnings at the end of Year 2 = Retained earnings at the beginning of Year 2 + Retained earning for year 2 .......... (1)

Substituting the values into equation (1) and sole for Retained earnings at the beginning of Year 2, we have:

$3,350 = Retained earnings at the beginning of Year 2 + $400

Retained earnings at the beginning of Year 2 = $3,350 - $400 = $2,950

Therefore, retained earnings at the beginning of Year 2 is $2,950.

5 0
3 years ago
Who is the home inspector's most important source of business leads? A. Engineering firms B. Architects C. Real estate agents D.
Nikitich [7]
This would be C. the Real Estate Agents. The engineering firms are only in charge of the construction of the home and the materials that are to be used for building it. The Architects, on the other hand, are responsible for the design of the home and the placement of the materials of the home. The lending institutions are focused more on providing the home inspector with money that he will need for a piece of property. So that leaves us with the Real Estate Agents. It is these people who deal with the sales of property which is why they are the source of business leads.
5 0
3 years ago
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