1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
AleksandrR [38]
3 years ago
6

If the absolute value of the own price elasticity of demand is greater than 1, then demand is said to be:

Business
1 answer:
OLEGan [10]3 years ago
8 0

Answer:

A. elastic.

Explanation:

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

Demand is elastic when a change in price leads to a change in quantity demanded. The coefficient of elasticity for elastic demand is usually greater than one.

Demand is inelastic when a change in price has no effect on quantity demanded.

The absolute value of the coefficient of elasticity for inelastic demand is usually less than 1.

Demand is unitary when a change in price leads to an equal proportional change in quantity demanded.

The absolute value of the coefficient of elasticity for unitary demand is usually equal to one .

I hope my answer helps you.

You might be interested in
A simple discount note results in
Nikolay [14]
A simple discount note results in i<span>nterest that are deducted in advance, this can just be simply called a discount. </span><span> It is usually being confused with markdown. </span><span>Discount is a deduction in the price of a product base on the purchase of the customer while markdown is a reduction of price based on inability to be sold. </span>
6 0
3 years ago
Read 2 more answers
A yield can be paid in the form of?
Helga [31]

Answer:

both a and b

Explanation:

3 0
3 years ago
You’ve been asked to add a new customer for your client in their QuickBooks Online company, so, you go to the Sales Center and s
sveticcg [70]

Answer:

(2) Select the add customer button

(7) Select payment and billing

Explanation:

we know here client ask for add a new customer in Quick Books

so we first enter the basic detail of customer like name phone number email id address etc after that we select the add customer button after that also we can edit customer more details

then we have to select customer name from list and then select the edit button that is given top right corner

and if customer is not taxable then we need to enter re seller no whatever they provided

after that we select for payment and billing icon and select payment of method is credit card

last we save it

3 0
3 years ago
Which of the following statements is correct?(A) Normal profits will cause an industry to expand.(B) Economic profits and losses
notka56 [123]

Answer:<em> The correct option in this case is (c).</em><u><em> i.e. Economic profits induce firms to enter an industry and losses encourage firms to leave</em></u>

Economic profits is the difference between total revenues and total costs excluding opportunity cost.  

For a instance when a firm generates economy profits then in that scenario it will be profitable to continue and expand .

4 0
4 years ago
Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should tak
Hitman42 [59]

Answer:

jsndidnbdkndhddjdbdjdjdj

3 0
3 years ago
Other questions:
  • What is the purpose of a job objective
    10·1 answer
  • Your client, Bo Regard, holds a complete portfolio that consists of a portfolio of risky assets ( P) and T-Bills. The informatio
    9·1 answer
  • Jones Blanket Company sells blankets for​ $25 each. The variable cost of each blanket is​ $10. If fixed cost is​ $4,500,000, the
    14·1 answer
  • If you have a long position in a foreign currency, you can hedge with:______.
    7·1 answer
  • Maria, a banking executive, gives a job candidate a detailed interview​ and a walking tour of the facility. By sharing her time
    12·1 answer
  • Malia signs a contract to purchase a used car. The seller breaches the contract, but Malia is able to buy the exact same car fro
    10·1 answer
  • Having a savings account can contribute to a person’s overall financial well-being. Which one of the following is not a benefit
    6·1 answer
  • What is an example of an external force that represents financial factors affecting a business?
    14·1 answer
  • you go to the electronics store and they are having a sale. the laptop you are looking at is reduced in price from $1,000 to $75
    10·1 answer
  • A product whose eoq is 40 units experiences an increase in the annual holding cost from $10 per unit to $90 per unit. The revise
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!