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Alla [95]
2 years ago
12

What effect does the availability of many substitutes have on the elasticity of demand for a good?

Business
1 answer:
zepelin [54]2 years ago
4 0
The availability of many substitutes increases the elasticity of demand for a good. With the presence of substitutes the consumer has more options to seek out if there are price changes, therefore, the consumer is highly responsive to price changes and thus the elasticity of the demand curve is higher if there are many substitutes. 
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Hall Corporation reported the following operating results for two consecutive years.
Strike441 [17]

Answer:

                         2014 2013 %CHANGE

SALE           1297000 1001000      29.6%

COGS             797655 600600      32.8%

Gross margin     499345 400400       24.7%

operating expenses  302000 198000        52.5%

Income before tax  197345 202400        -2.5%

taxes                  61400     52600 16.7%

Net income              135945 149800 -9.2%

Explanation:

%change = (2014 - 2013)/2013

2014 and 2013 represent each line item in the income statement

3 0
3 years ago
​Mid-Town Auto Parts Company uses the direct method to prepare its statement of cash flows. Refer to the following information r
Lera25 [3.4K]

Answer:

Collection from Customers =$487,000

Explanation:

Collection from Customers=account receivable beginning balance+sales revenue-account receivable ending balance

=97000+$519,000-$65,000

=$487,000

7 0
2 years ago
The ________ problem occurs when supervisors tend to rate all their subordinates consistently low.
fenix001 [56]
The "<span>strictness"</span><span> problem occurs when supervisors tend to rate all their subordinates consistently low.
</span>
Many supervisors will tend to rate every one of their subordinates reliably high or low. alludes to giving high evaluations or ratings, while strictness alludes to giving low appraisals or ratings. Central tendency alludes to giving normal scores.
8 0
2 years ago
Read 2 more answers
Dawn graduated from high school and wants to get a credit card. how can dawn establish credit-worthiness?
yanalaym [24]
By keeping good credit
7 0
3 years ago
Soffia Inc. manufactures a moisturizing soap with anti-ultraviolet properties, which is sold under the brand name DewMist. The c
Lerok [7]

Answer:

Multibranding strategy

Explanation:

Multibranding strategy can be defined as a type of strategy in which a company gives its product a different brand name. It involves a producer selling different brands under the same product segment.

In Multibranding strategy there is no space for other competitors in the market. This strategy also strengthens the influence of these various products in the market.

A Multibranding strategy can lead to a great loss if it is not properly handled by the management of the organisation.

8 0
3 years ago
Read 2 more answers
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