How many of Amway distributors make money

Which of the following statements about the price elasticity of demand is correct The absolute value of the elasticity of demand

notsponge [240]

Answer:

Demand is more elastic in the long run than it is in the short run

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Demand is more elastic in the long run than it is in the short run because in the long run consumers have more time to search for suitable substitutes.

When the absolute value of elasticity of demand is less than one, demand is inelastic.

When the absolute value of elasticity of demand is equal to one, demand is unitary.

When the absolute value of elasticity of demand is greater than one, demand is elastic.

Demand is less elastic the smaller the percentage of the consumer's budget the item takes up.

The elasticity of demand for a specific brand of good doesn't translate into the elasticity of demand for the good.

I hope my answer helps you

4 0

3 years ago

. The organizers of a conference in the Houston Convention Center are evaluating the possibility of setting up a computer area w

Mars2501 [29]

Answer:

They would need to have at least 3 computers

Explanation:

According to the given data we have the following:

Arrival rate = 15 persons per hour

Servicing rate = 60 / 10 = 6 persons per hour with one computer

Servicing rate with x number of computers = 6x per hour

Servicing rate at 90% utilisation = 6x (0.90) = 5.40x per hour

Therefore to service 13 arrivals per hour, we will need x computers = 15/ 5.40 = 2.78

With 2 computers, the service capacity will be 12 per hour and the utilisation will be 15/12 = 125%, which exceeds the organiser’s standard of 90% utilization.

With 3 computers, the service capacity increases to 18 persons per hour. If only 13 persons arrive, the utilisation rate will be 15 / 18 = 83.33%, below the required maximum of 90% utilisation.

Therefore, the 2.78 can be rounded off to next whole number 3 computers

4 0

3 years ago

Read 2 more answers

Which of the following is a criticism of the national income and product accounts?

jok3333 [9.3K]

I believe the correct answer among the choices is:

b) They do not capture most nonmarket economic activity

<span>The National Income and Product Accounts or NIPA is one of the main sources of the data on general economic activity in the United States. The greatest drawback to this is that it is only a prediction, it does not really reflect all the acitivities.</span>

4 0

3 years ago

Steve goes to Tri-State University and pays $40,000 in tuition. Steve works to pay for his schooling and has an AGI of $37,000.

Lemur [1.5K]

Answer:

His American Opportunity tax credit is $2,500.

Explanation:

A taxpayer who has a modified adjusted gross income of $80,000 or less can claim the credit for the qualified expenses of an eligible student.

Taxpayers will receive a tax credit based on 100% of the first $2,000, plus 25% of the next $2,000 that is paid during the taxable year for tuition, fees and course materials and also, 40% of the credit (up to $1,000) is refundable.

Therefore, His American Opportunity tax credit is $2,500.

6 0

3 years ago

The Pack Company purchased an office building for $9,000,000. The building had an estimated useful life of 40 years and an expec

xz_007 [3.2K]

<h2>Depreciation = Cost Price --Salvage/Useful Life</h2><h2>=9,00,000-1,00,000/40</h2><h2>=8,00,000/40</h2><h2>= 20,000</h2><h2 /><h3>Explanation:</h3><h3>Depreciation is 20,000</h3><h3></h3>

8 0

2 years ago