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Sliva [168]
3 years ago
14

Why does demand generally become more elastic over time?a. people don't change their shopping behavior over timeb. few substitut

es become availablec. people buy more products over timed. people have time to find substitutes and change behaviors
Business
1 answer:
xz_007 [3.2K]3 years ago
3 0

Answer:

people have time to find substitutes and change behaviors

Explanation:

Demand elasticity is a microeconomic concept that aims to measure the sensitivity of demand in the face of price changes. When price goes up and demand goes down a lot, demand is said to be price elastic. When price rises and demand does not change significantly, demand is said to be inelastic to price.

If the demand for a product is inelastic in the short term, it means that the demanders will continue to buy the good even with the price increase. This is mainly due to the essential features of some goods, such as remedies.

However, in the long run, people have the ability to search and find sub-substitute goods, so that they become more price sensitive, meaning that demand becomes elastic.

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Answer: The major causes of World War II were numerous. They include the impact of the Treaty of Versailles following WWI, the worldwide economic depression, failure of appeasement, the rise of militarism in Germany and Japan, and the failure of the League of Nations.

Explanation:

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3 years ago
Which statement is the best description of a personality inventory?
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The college majors that lead to the highest median earnings for both men and women tend to be those that
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3 years ago
XYZ has a current market price of $30.00 per share with earnings last year of $2.50 per share, a beta of 1.1 and a dividend of $
Nutka1998 [239]

Answer:

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8 0
3 years ago
You receive payments at the end of each Quarter starting at the end of Quarter 1 and lasting 6 years (so the last payment you re
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Answer:

PV = PMT [(1 - (1 / (1 + r)ⁿ)) / r]

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PV = The present value of the annuity

PMT = The amount of each annuity payment

r = The interest rate

n = The number of periods over which payments are to be made

PV = PMT [(1 - (1 / (1 + r)ⁿ)) / r]

     = 1000 [(1 - (1 / (1 + 0.0083)²⁴)) / 0.0083]

     = 1000 [(1 - (1 / 1.2194)) / 0.0083]

     = 1000 [(1 - 0.8201) / 0.0083]

     = 1000 [0.1799‬ / 0.0083]

     = 1000 * 21.6747

PV = $ 21,674.70

Explanation:

Since the annuity is compounded monthly

r = 10% / 12 = 0.83%

n = 24

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4 years ago
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