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
lora16 [44]
3 years ago
5

If the price elasticity of demand for apples is 1.20 (absolute value), then the demand is _____ and total revenue will ______ if

the price of apples falls.
Business
1 answer:
Ludmilka [50]3 years ago
3 0

Answer:

The correct answer is: price elastic; increase.

Explanation:

The price elasticity of demand for apples is 1.2.  

This implies that the demand relatively prices elastic.  

Elastic demand means that a proportionate change in the price of apples will cause more than proportionate change in the quantity demanded.  

A decrease in the price of apples will cause its quantity demanded to increase by more than proportionate. This will cause total revenue to increase.

You might be interested in
Suppose two economists are debating tax reform bill. Both economists agree that the bill would increase the after-tax income of
Margarita [4]

Answer:

The correct answer is letter "C": Different choices about the right simplifications to use in economic analysis.

Explanation:

Economic Analysis refers to the study of economic situations within a region using different tools for that purpose that will let determine what the possible solutions and consequences of taking decisions of those situations could be. That is why in the case the two economists after analyzing the effects of the tax reform bill decided not to implement it.

5 0
3 years ago
Fortune Drilling Company acquires a mineral deposit at a cost of $5,900,000. It incurs additional costs of $600,000 to access th
IgorC [24]

Answer and Explanation:

the journal entry is given below:

Depletion Expense $1,358,500

         To Accumulated Depletion $1,358,500.

(Being depletion expense is recorded)

Here the depletion expense is debited as it increased the expense and credited the accumulated depreciation as it decreased the assets

Working note

Depletion expense is

= ($5,900,000 + $600,000) ÷ $2,000,000 × 418,000

= $1,358,500

8 0
3 years ago
Which of the following is not recommended for cooking fresh pasta
slava [35]

Answer:

Oil is not recommended for cooking fresh pasta

Explanation:

Oil is not recommended for cooking fresh pasta

Hope this helps

8 0
3 years ago
Read 2 more answers
Exam early childhood education
Rashid [163]
Idk whats your qwestion
3 0
3 years ago
Which of the following answer options are your employer's responsibility? (OSHA)
Dmitrij [34]

Answer: A, B, and C. ALL OF THE ABOVE!

Explanation:

They're all the correct answer.

3 0
3 years ago
Other questions:
  • USSOCOM is focused on organizing, training, equipping and providing highly capable __________ special operations forces to geogr
    10·1 answer
  • Carla Vista Pharmaceuticals entered into a licensing agreement with Zenith Lab for a new drug under development. Carla Vista wil
    13·1 answer
  • The amount of increase or decrease in cost that is expected from a particular course of action as compared with an alternative i
    12·1 answer
  • Which of the following is a function of online analytical processing? Group of answer choices feeding vast amounts of informatio
    6·1 answer
  • Assume that you plan to open a soft ice-cream franchise in a resort community during the summer months. Fixed operating costs fo
    10·1 answer
  • Information related to plant assets, natural resources, and intangibles at the end of 2020 for Kingbird, Inc. is as follows: bui
    13·1 answer
  • Kimble Company applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under-
    13·1 answer
  • An investment product promises to pay $42,000 at the end of 10 years. If an investor feels this investment should produce a rate
    9·2 answers
  • Novak Corporation purchased 380 shares of Sherman Inc. common stock for $12,900 (Novak does not have significant influence). Dur
    14·1 answer
  • Which of the following is the most likely explanation for inflation in the United​ States?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!