Answer:
lower , demand
Explanation:
Price Elasticity of Demand [P.Ed] is the responsive change in demand due to change in price.
P.Ed is affected by many factors : Substitute availability, Consumer Income, Nature of product, Product use(s), role of habits, price adjustment time/ urgency of demand.
The P.Ed factor mentioned in the question is price adjustment time/ urgency of demand'
- If there is <u>short </u>time period for consumers to adjust to a price : the demand will respond less to price change. So, P.Ed is <u>lower</u>. Demand is <u>less elastic</u> in this case.
- If there is more time period for consumers to adjust to a price : the demand will respond more to price change. So, P.Ed is higher. Demand is more elastic in this case.
Demand is more elastic in long time period than in short time period
Answer: consumer's maximum willingness to pay for it.
Explanation:
The value a consumer places on a product or service is the highest amount that consumer is willing to pay for that product or service to be received. Value simply means the worth a particular thing has to a person. Value varies as some items are more valuable than others.
Answer:
Information-Processing Perspective.
Explanation:
Information-Processing Perspective is a view, that states that people calmly and carefully integrate as much information as possible with what they already know about a product, painstakingly weigh the pluses and minuses of each alternative, and arrive at a satisfactory decision.
For example, an organization who is solely out there to make profits and expand their business, would make it uses a financial plan such as a yearly budget and proper allocation of its scarce resources.
Answer:
Hi,
The correct answer option is (D)
Explanation:
A minimum of a high school diploma or an associate is required for a person to be a childcare teacher.A common credential in this case could be a certificate in Child Development Associate( CDA) which is required in most states.A state licence can come in handy when applying for this job position.