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Free_Kalibri [48]
3 years ago
6

If the absolute value of the price elasticity of demand for a good is .75, the demand for that good is described asa. normal.b.

elastic.c. inferior.d. inelastic.
Business
1 answer:
Schach [20]3 years ago
3 0

Answer: Option (d) is correct.

Explanation:

Inelastic demand : The goods with the price elasticity of demand less than 1 are referred as a inelastic good.

When the percentage in quantity demanded is less than the percentage change in price, then the demand for that commodity is called as less elastic or inelastic.

It is generally represented by a steeper demand curve.

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An economic model is useful only if it: ______________
finlep [7]

Answer:

b. contains no positive statements.

5 0
3 years ago
Bruce has a credit card that uses the average daily balance method. For the first 9 days of one of his billing cycles, his balan
Mice21 [21]

Answer:

$31.61

Explanation:

In order to determine the amount of interest charged you must first calculate the average daily balance:

average daily balance = [($2,030 x 9) + ($1,450 x 22)] / 31 = $1,618.39

Now we must calculate the daily interest rate:

daily interest rate = 23% / 365 = 0.063%

Finally we multiply the average daily balance times the daily interest rate times the number of days in the billing period:

interest charged = $1,618.39 x 0.063% x 31 days = $31.61

3 0
3 years ago
Students who live on campus and purchase a meal plan are randomly assigned to one of three dining halls: the Commons, Northeast,
Brut [27]

Answer:

What is the probability that the next student to purchase a meal plan will be assigned to the Commons?a. 0.33

Explanation:

P(A) = (No. of ways A can occur)/(Total no. of possible outcomes)

P=1/3

P=0,333

5 0
3 years ago
Read 2 more answers
****30 POINTS*******If you were about to launch a new business, would you write your business plan from scratch or use a softwar
Sav [38]

Answer:

Use a software program

Explanation:

When you use it a software program the presentation is much cleaner than hand written and is easier to edit. But a software program can be stolen, or deleted.

Paper layouts can be stolen but if lost it may be found.Paper layouts are easier to make though because you dont have to add special effects by scrolling and scrolling because you can do it quickly with you pencil.

4 0
3 years ago
Suppose the cross-price elasticity of travelling by bus and travelling by train is 0.7. If the price of traveling by bus increas
galina1969 [7]

The quantity of traveling by train would change by 28%.

Cross-price elasticity measures how the quantity demanded of a good is affected by changes in the price of another good.

Cross price elasticity = percentage change in the quantity demanded of good A / percentage change in the price of good B.

0.7 = percentage change in the quantity of traveling by train / 40%

Percentage change in the quantity of traveling by train = 40 x 0.7 = 28%

To learn more about cross price elasticity, please check: brainly.com/question/26035503

8 0
2 years ago
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