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Alecsey [184]
3 years ago
5

Suppose one rental car company raises its prices and the rival car companies leave their prices unchanged. But when another rent

al car company lowers its prices, the other companies match the price decrease.
This situation is an example of ______.
Business
1 answer:
Karo-lina-s [1.5K]3 years ago
7 0

Answer:

This situation is an example of cross Price elasticity of Demand

Explanation:

If change in Price in Rental Company A doesn't necessitate change in prices in Rental companies B.C.D.E & F

Then the products A has on offer are not close substitutes to the rival companies

However where Rental company G lowers his price and it immediately triggers a Price reduction in Companies B to F, then obviously they offer similar products that are close substitutes and serve similar segment or channel of the Market Size. Thus failure to lower their Price will automatically see Customers rent cars more from Company G.

This situation is an example of cross Price elasticity of Demand

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Explanation:

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How does the interpretation of the regression coefficients differ in multiple regression and simple linear regression?
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Answer and explanation:

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3 years ago
Corporate social responsibility: Group of answer choices
Misha Larkins [42]

Answer:

Letter e is correct.<em> Extends beyond ethics to include community, environment, and human rights</em>

Explanation:

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In a globalized world, there is legal pressure from consumers, institutions, NGOs and the media to make companies not only profitable but also voluntary contributors to building a more egalitarian society.

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The price elasticity of demand if the price of a pint falls from $8 to $6 is
melamori03 [73]
It means to say that the demand of the product is decreasing.  The relationship between the price and demand is one way. It means to say that if the price increases, the demand is higher. In this scenario, the price increases to avoid shortage on the product. If the price is decreasing, it means to say that the demand is decreasing and can possibly cause surplus on the said product. Lowering the price allows consumers to have higher purchasing power and enticing them to purchase such product.
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