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
mariarad [96]
3 years ago
5

If the estimated price elasticity of demand for foreign travel is 4:

Business
1 answer:
kenny6666 [7]3 years ago
7 0

Answer:

b. a 20% decrease in the price of foreign travel will increase the quantity demanded by 80%. 

Explanation:

A price elascitiy of 4 means demand is elastic. Price elasticity greater than 1 indicates demand is elastic.

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

Elastic demand is when a change in price leads to a change in quantity demanded.

If price increases and demand is price elastic, the quantity demanded falls.

If price falls and demand is price elastic, the quantity demanded rises.

If price elasticity is 4, 20% decrease in the price of foreign travel will increase the quantity demanded by 80%. 

Inelastic demand is when price elasticitiy is less than 1.

I hope my answer helps you

You might be interested in
Definition of unemployment insurance fund
Veronika [31]
Salutations!
Definition of unemployment insurance fund.

Unemployment insurance fund is a short term holiday, or consolation where workers do not work due to personal issues, such as: illness, family cases etc.
Hope I helped :D
7 0
2 years ago
Imagine that you are at a bank, ready to open your first bank account.
Sati [7]

Answer:

compared the services that different banks offer, and learned what they charge for them.

Explanation:

This is crucial as no one would want to be trapped in a bank or bank plans or services that doesn't work for him or her.

7 0
2 years ago
Read 2 more answers
Keenan owns a retail store. He often receives payments from some of his manufacturers to ensure their products are placed in the
Serjik [45]

Answer: Slotting allowances

Explanation:

 The slotting allowances is the term which is used to charge by the manufacturers for the specific products and the services ion the market. It is also known as the slotting fee and the charged allowances is specifically varies or depend upon the specific products and the different marketing conditions.

According to the given question, the slotting allowances is refers as the payment that is made by the producers for ensuring their goods and the services best place.  

 Therefore, Slotting allowances is the correct answer.          

3 0
2 years ago
Which jobs would be included in the Marketing, Sales, and Service career cluster?
Alinara [238K]

Answer:

Survey Researcher

Public Relations Specialist

Telemarketer

Purchasing Manager

Explanation:

I just got this answer correct on my online exam.

7 0
2 years ago
Eliminating _______ pushes idea creation and decision-making out of headquarters and into the field. none of these pay bonuses p
natima [27]

The correct answer is layers of management. Layers of management is defined as a centralized, bureaucratic organization structure by which it is composed of three levels of management that are; top-level, middle level, and first level managers that are less top level managers.

3 0
2 years ago
Other questions:
  • NAME ONE ORGANIZATION THAT CAN HELP A NEW ENTREPRENEUR WITH FUNDING AND SKILL DEVELOPMENT SOUTH AFRICA
    15·1 answer
  • Why should a pencil never be used as a tool when working inside a computer?
    7·1 answer
  • Which is true of lodging employers of major hotel chains? They tend to have a low turnover rate. They tend to promote employees
    12·2 answers
  • Define what is a constant dividend payout ratio policy
    5·1 answer
  • You purchased a share of stock for $50. Two years later you received $2 as dividend and sold the share for $59. What was your ho
    8·1 answer
  • Help with an opening message
    10·1 answer
  • (L.O. 2) Nolan Company sells its product on an installment basis, earning a $450 pretax gross profit on each installment sale. F
    6·1 answer
  • In the value chain, what is the term of the activities that are required but not directly add value to the company's products or
    9·1 answer
  • For bonds issued 2019, the taxpayer must amortize bond premium using which of the following methods?
    14·1 answer
  • Help please!!!!!!!!!!!!!!!!!!!
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!