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kotegsom [21]
3 years ago
11

Determine which statement about the absolute value of the price elasticity of demand is correct. The price elasticity of demand

for gasoline is greater than the price elasticity of demand for cereal because because more people eat cereal than use gasoline. The price elasticity of demand for Gain laundry detergent is likely to be greater than the price elasticity of demand for laundry detergent in general. The price elasticity of demand for laundry detergent in general is likely to be greater than the price elasticity of demand for Gain laundry detergent. The price elasticity of demand for gasoline is less than the price elasticity of demand for cereal because because more people eat cereal than use gasoline.
Business
1 answer:
dedylja [7]3 years ago
6 0

Answer: Option (b) is correct.

Explanation:

Correct option : The price elasticity of demand for Gain laundry detergent is likely to be greater than the price elasticity of demand for laundry detergent in general.

People are definitely using laundry detergent for doing laundry but when we are talking about a particular detergent, then are many substitutes available to do the laundry. Hence, the price elasticity of demand for the Gain laundry detergent is generally higher than for the laundry detergent in general.

Therefore, correct option is part (b).

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Denise Hunter had Thomasville brand living room furniture and wanted to buy a particular chair of the same brand. She made a few
miskamm [114]

Answer:

a specialty product

Explanation:

Based on the scenario being described within the question it can be said that For Denise, the chair can be categorized as being a specialty product. This is a product that very specific individuals will seek to purchase due to the product's unique characteristics or the individuals loyalty to a specific brand. Which is the case with Denise, since she is loyal to the brand and wanted a chair only from that specific brand.

7 0
3 years ago
Where can aspiring entrepreneurs go to get their questions answered?
Nataliya [291]
Aspiring entrepreneurs can go to the internet, experienced entrepreneurs, Chambers of Commerce, Small Businessn Administration (SBA), college/university, or the community to get their questions answered. Hope this helps.
5 0
4 years ago
A group of sellers who agree to restrict their collective output in order to drive up prices above marginal costs is a:
Salsk061 [2.6K]

A group of sellers who agree to restrict their collective output in order to drive up prices above marginal costs is known as a:

  • <u>Cartel</u>

According to the given question, we are asked to show the term which can be best used to <em>describe </em>a group of sellers who make an agreement to <em>reduce their collective output</em> so that price of goods would increase above their marginal costs.

As a result of this, we can see that this group of people in the business world are known as cartel because they behave unethically so that they could have increased profit on sales.

Read more here:

brainly.com/question/15294015

3 0
3 years ago
The U.S. Post Office charges 40 cents for the first ounce and 25 cents per ounce for each additional ounce. Use an inequality to
Leni [432]

Answer:

15 ounces.

Explanation:

The first ounce is worth 0.40, and the additional x ounces are worth 0.25 each. So, the inequality should be Y > A + B * X, where Y is equal to 4, A is the value of the first ounce (0.4), B is the value of the additional ounces (0.25) and x is the quantity of additional ounces.

  • 4 > 0.4 + x * 0.25
  • 4 - 0.4 > 0.25x
  • 3.6/0.25 > x
  • 14,4 > x

14 is the maximum of additional ounces that can be mailed, we have to add the first one, for a total of 15 whole ounces that can be mailed for no more than $4.

8 0
3 years ago
One of the reasons that services marketing has lagged behind product marketing is because marketing first developed to move prod
nevsk [136]
The answer is false
4 0
3 years ago
Read 2 more answers
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