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ohaa [14]
3 years ago
10

Suppose the price elasticity of demand for cereal is negative −1.03. If​ so, then the demand for cereal is (unit-elastic, elasti

c, inelastic. In another​ example, assume the price elasticity of demand for a particular magazine is negative −0.72. The demand for the magazine is unit-elastic, elastic, inelastic
Business
1 answer:
kari74 [83]3 years ago
5 0

Answer:

The demand for cereal is elastic.

The demand for the magazine is inelastic.

Explanation:

The price elasticity of demand is the degree of responsiveness of quantity demanded to change in price. A negative price elasticity implies that the product is a normal good.

The price elasticity of demand for cereal is −1.03. This means that the demand is price elastic. An elastic demand implies that a change in price will cause more than proportionate change in quantity demanded.

The price elasticity of demand for a particular magazine is −0.72. This means that the demand is price inelastic. An inelastic demand implies that a change in price will cause less than proportionate change in the quantity demanded.

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On January 2, 2013, Gant Co. purchased a franchise with a useful life of five years for $60,000 and an annual fee of 1% of franc
inysia [295]

Answer:

$48,000

Explanation:

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= Purchase value of franchise - amortization per year

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= $48,000

hence, the  amount that should be reported as the intangible asset franchise is $48,000

6 0
3 years ago
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horsena [70]

Answer:

ABC company

Explanation:

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In the given situation, the ABC company itself is involved while selling the shares of ABC stock in the primary market

4 0
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insens350 [35]

Answer:

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Explanation:

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6 0
2 years ago
The heart of the internal records system is the ________ because customers favor firms that can promise timely delivery. A. sale
Brut [27]

Answer:

C. order-to-payment cycle

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I hope you find this information useful and interetsing! Good luck!

3 0
3 years ago
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sasho [114]

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