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
Liono4ka [1.6K]
3 years ago
14

A study by the National Bureau of Economic Research (NBER) examined the responsiveness of consumers to changes in gasoline price

s. The study determined that elasticity of demand for gasoline ranges from 0.21 to 0.75. According to the NBER study, what will happen if a major supplier of oil cuts production, causing the price of gasoline to increase greatly?
Business
1 answer:
Y_Kistochka [10]3 years ago
3 0

Answer:

Gasoline consumption will decrease by a small amount.

Explanation:

A coefficient of elasticity of less than one indicates that demand is inelastic.

Inelastic demand means that there's little or no change in quantity demanded when there's a change in the price of a product.

Quantity demanded has little or no sensitivity to changes in price.

If the coefficient of elasticity is greater than one, demand is elastic.

Elastic demand is when a small change in price has a greater effect on the quantity demanded.

If the coefficient of elasticity were equal to one, it means that demand is unit elastic.

Unit elastic demand means a change in price leads to the same proportional change on quantity demanded.

I hope my answer helps you

You might be interested in
What is the target of SEO service?
Fiesta28 [93]
Increase its visibility in search results on search engines
5 0
3 years ago
On January 15, Year 5, Rico Co. declared its annual cash dividend on common stock for the year ended January 31, Year 5. The div
11Alexandr11 [23.1K]

Answer:

January 15, Year 5.

Explanation:

The Rico should decrease retained earnings by the amount of the dividend is declaration date.

The declaration date refers to date the board of directors of a company makes a formal announcement of when the next dividend will be paid. The declaration is therefore also referred to as the announcement date.

On the declaration date, liability account known as dividend payable account is created and credited, while the retained earnings is debited or reduced by the amount of the dividend.

From the question, January 15, Year 5 is the announcement date and it is therefore the date Rico should decrease retained earnings by the amount of the dividend.

3 0
3 years ago
Which of the following systems would work best for a very standardized product that has a fairly high and predictable demand? a.
Margaret [11]

Answer:

The answer is b. make-to-stock system

Explanation:

Make-to-stock system  is a build-ahead production approach in which production plans may be based upon sales forecasts and/or historical demand. It is a traditional production strategy that is used by businesses to match the inventory with anticipated consumer demand.

5 0
3 years ago
Nezzie invests in 300 shares of stock in the fund shown below. Name of Fund NAV Offer Price LKIT Mid-Cap $16. 58 $16. 99 Nezzie
LenKa [72]

The correct amount of net asset value is $33. 66. Net asset value is termed as the value of the asset after the evaluation of the company's profit and evaluating the paid-off debt of the firm.  

Computation of the total net value:

\begin{aligned}\text{The Total Net Value}&=(\text{ Number of shares} \times \text{Offer price}) + \text{profit}\\\text{The Total Net Value}&= 300 \:\rm shares \times \$16.99 + \$5000\\\text{The Total Net Value}&=\$10,097\end{aligned}

The computation of the net asset value is:

\begin{aligned} \text{The Net Asset Value}&=\dfrac{\text{ Total Net Value}}{\text{Total Outstanding Shares}}  \\\text{The Net Asset Value}&= \frac{\$10097}{300\:\rm shares} \\ \text{The Net Asset Value}&= \$33.66\end{aligned}

Therefore, the correct option is D.

To know more about the calculation of the net asset value, refer to the link below:

brainly.com/question/2718055

7 0
3 years ago
The total number of points of work a team can accomplish in each scrum period is called? ________.
sasho [114]
Hey there!

The correct answer to your question is "velocity."

The total number of points of work a team can accomplish in each scrum period is called velocity.
Velocity is basically the rate of points you can receive in each course of working.

I hope this helps you.

Have a great day! :)
3 0
4 years ago
Read 2 more answers
Other questions:
  • Jerry lost his credit card and instead of reporting it right away, he decides to continue looking for it believing he could find
    6·2 answers
  • .Which economic condition of the 1920s was amajor cause of the Great Depression?(1) Farm prices rose dramatically.(2) Industry o
    6·2 answers
  • When you know a firearm's effective killing range, you can determine: which animals you can hunt which stance to use when shooti
    5·1 answer
  • Which of the following statements is CORRECT?
    9·1 answer
  • According to Harvey MacKay, a goal is a dream with?
    15·2 answers
  • An asset used in a 4-year project falls in the 5-year MACRS class for tax purposes. The asset has an acquisition cost of $9,100,
    11·1 answer
  • If I have a half circle how many degrees are they?
    11·1 answer
  • According to the Bureau of Labor Statistics, in calendar year 2000, the average duration of unemployment was 12.7 weeks, with a
    7·1 answer
  • A friend tells you that they cannot pay for for the standardized tests that need to be taken to apply for college and military s
    7·1 answer
  • Foundation for motivation
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!