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tino4ka555 [31]
4 years ago
8

When demand for a product changes because of its price, this product is said to be elastic.

Business
2 answers:
LiRa [457]4 years ago
8 0
True
When a product is elastic, a change in price quickly results in a change in the quantity demanded.
Alex4 years ago
7 0

The correct answer is True,

Explanation

Elasticity is a term used in economics to describe the reaction capacity of a product to a change in its demand according to price. This means when the value is high there is less consumption or demand and the value is higher, so most luxury items are considered elastic goods or products. In the same way, if the price reduces then the demand increases. For example, diamonds can be considered an elastic product because if their price fell, everyone would buy them or the demand would increase. So, the correct answer is True.

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If a loan is risky and extends for more than a year what will a lender ask for
Alenkasestr [34]

Answer:

A higher interest rate for sure.

Explanation:

They will charge you more for the money you are borrowing (loan). So you may pay 25% over the, for example, $1000 you're borrowing.

7 0
3 years ago
List any additional information which will help in determining your professional qualifications for a position.
guapka [62]
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3 years ago
If 9,000 fans bought tickets totaling $135,000, what was the average revenue per ticket?
son4ous [18]
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3 years ago
A retail store has three departments, S, T, and U, and does general advertising that benefits all departments. Advertising expen
Andrew [12]

Answer: $22,500

Explanation:

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The Rate of Allocation based on Sales = Advertising Expense/Total sales

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= 0.105263

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8 0
4 years ago
How old does a senator have to be?
mafiozo [28]

Answer:

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Explanation:

and i'm mexican

7 0
3 years ago
Read 2 more answers
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