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Alex Ar [27]
2 years ago
15

A company manufacturing shirts for a department store decides to create a new style of cotton shirt. The company would most like

ly produce shirts that will ________.
a. sell at a high price.
b. be less costly to create.
c. use a nonrenewable resource.
d. satisfy the wants and needs of consumers.
Business
1 answer:
Zina [86]2 years ago
4 0

Answer:

b. be less costly to create.

Explanation:

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Which of the following factors will make the demand for a product relatively elastic? rev: 05_14_2018 Multiple Choice Purchases
Hoochie [10]

Answer:

The good is considered a necessity.

Explanation:

Price elasticity of demand is a measure of the sensitivity of demand for a good or service to changes in the price of that product. We say that the price elasticity of demand is elastic when a percentage change in the price of this good has major impacts on demand. On the contrary, we say that the price elasticity of demand is inelastic when variations in the price of goods have little or no influence on demand.

Usually elastic goods are those that can be replaced, so that rising prices cause a drastic drop in demand that will flow to another product. For example, if the price of the burger rises, consumers may stop buying burgers and substitute pizza (assuming these products are substitutes). On the contrary, if the good is needed, it usually tends to be inelastic, that is, the price increase does not considerably decrease the demand, because consumers need this good. For example, medicines.

3 0
3 years ago
If there are important external benefits associated with the consumption of a product:_______.
pentagon [3]

Answer:

C. the market demand curve understates the relative importance of the product and resources are therefore underallocated to its production.

Explanation:

Positive external benefits refer to third party positive side effects, above & beyond private marginal benefit to the concerned consumer.

Eg : Education - Its consumption not only affects the concerned person, but the positive trickle down to the people & society around.

Personal consumption decisions are based on : equalisation - of private marginal benefit (demand) curve & private marginal cost curve. However, goods having positive external benefits have real marginal benefit curve increased over private benefit curve, by the extent of extra marginal social benefit.

So, market demand (based on private marginal benefit) curve understates the importance of product, and resources are therefore underallocated to its production (due to undervaluation of demand).

4 0
2 years ago
Which statement does not accurately describe a characteristic of cash value for whole life insurance?
otez555 [7]
If this question has the same list of choices as the ones posted before, the statement that does not accurately describe a characteristic of cash value for whole life insurance is:
 "<span>Policy that accumulates cash value is less expensive than a policy that does not accumulate cash value."</span>
3 0
3 years ago
Interest rates on a loan provide what key information?
vesna_86 [32]

Answer:

d

Explanation:

i just took the test my gee

6 0
3 years ago
John​ Smith, a factory worker at an automobile plant in the city​ Detrigan, makes​ $25 per hour. His​ dad, Larry Smith who retir
drek231 [11]

Answer:

The total number of hours worked by an average factory worker has fallen over the years

Explanation:

5 0
3 years ago
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