Answer:
<h2>Among the answer options given in the question,athletic shoes are likely to have the most price inelastic demand.Hence,the correct answer is option A. or Athletic shoes(broadly defined).</h2>
Explanation:
In Microeconomics,price elasticity of demand basically measures the general responsiveness of the consumer to any change in the price of any particular product or service.Now,one of the criteria that determines or influences the price elasticity of demand for any product or services is the availability of substitutes.The more the number of substitutes a product has,higher will be the price elasticity of demand for that particular product.In this context,availability of substitutes depends on the categorization of description of the concerned product.For example,the more general the product category,higher will be the availability of substitute for that product and hence,higher will be its price elasticity.In this case,when we consider any general athletic shoes,there are usually less substitute products available in both domestic and international market that sell various kinds and types of athletic shoes.Therefore,the consumers have a considerably lower range of similar product categories to choose from and hence,in we consider athletic shoes in general or as a broad product category,the consumers will be relative price insensitive or price inelastic in economic language due to lower availability of consumption choices or substitutes.Now,running shoes or Nike athletic or general shoes all indicate product or brand specificity and the more specific a product becomes in terms of its category or type or the brand selling the product,higher will be the consumption choices or options or substitutes available to the customers leading to increasingly higher price elasticity of demand for those respective products.Here running shoes represent a specific or particular category within the broader shoe industry and Nike signifies a particular global shoe brand or company.Therefore,based product/brand specificity and the available of substitutes,athletic shoes in general would exhibit the most price inelastic demand in this instance.
Answer:
Amount of inventory = $28,800
Explanation:
Given:
Current ratio = 2.65
Acid test ratio = 2.01
Current liabilities = $45,000
Prepaid expenses = $0
Find:
Amount of inventory
Computation:
Current ratio = Current assets / Current liabilities
2.65 = Current assets / 45,000
Current assets = $119,250
Acid test ratio = [Current assets - Inventory - Prepaid expenses] / Current liabilities
2.01 = [119,250 - Inventory - 0] / 45,000
90,450 =119,250 - Inventory
Amount of inventory = $28,800
Answer:
Companies must be prepared at all times to add to or adapt their product lines to satisfy the desires of customers for them to remain competitive.
Explanation:
One of the strategies companies to remain competitive is to adjust to the demand of customers. This will allow a company to retain current customers and win potential new customers.
Although this strategy may require additional fund but failure to adapt and add new product lines that satisfy wants of the customers can the company out of business.
Therefore, companies must be prepared to add to or adapt their product lines to satisfy customers' desires in order to remain competitive.
Answer:
A) privately held corporation.
Explanation:
In the given example, the most appropriate option is a privately held corporation as the stock is owned by the 13 principles. It is not offered to anyone other than these 13 principles, which means they do not offered to the public at large.
It is different from the publicly held corporation as the shares or the stock of the business organization are offered to the general public. But in this case, it offered to only 13 principles
Hence, other options are wrong except A
Answer:
The correct option is C
Explanation:
When the person who co- sign for a credit card of a friend, then the person will be in a danger of lowering its own credit score if the person's friend fails to pay for the payment.
Credit score is a expression in terms of numerics grounded on the level analysis of the credit files of the person and also represent the credit worthiness of the person. It is used by lenders for determining who qualifies for the loan and for credit limits.
