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Alika [10]
3 years ago
5

If the demand for a steak is unit price elastic, then; Select one: a. the percentage change in quantity demanded is equal to the

percentage change in price b. the percentage change in quantity demanded is 1 percent greater than the percentage change in price. c. quantity demanded does not respond to changes in price d. the percentage change in quantity demanded is 100 percent greater than the percentage change in price (in absolute value).
Business
1 answer:
Anvisha [2.4K]3 years ago
6 0

Answer:

The correct answer is option a.

Explanation:

The price elasticity of demand shows the responsiveness of quantity demanded to change in price. It is measured by the ratio of proportionate change in quantity demanded and proportionate change in price.

Unit price elastic means that the price elasticity of the good is 1. This implies that the percentage change in quantity demanded must be equal to the percentage change in price.

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. Suppose that a car dealer has a local monopoly selling Volvos. It pays w to Volvo for each car that it sells, and charges each
kicyunya [14]

Answer:

The dealer will sell 15 Volvos

Explanation:

Consider the following formulas to calculate the Q of which optimize the exercise.

Profit = Q*p

Profit = (30-q)*q

Profit = 30q - q^2

Differentiating with respect to q, we get

30-2q = 0

2q = 30

q=15

The dealer will sell 15 Volvos

6 0
3 years ago
Javier, a new insurance agent, pays one of his customers to buy his firm's insurance product. Javier explains to the customer th
GaryK [48]

Answer: Bribery.

Explanation:

Bribery is a legal offense which involves giving or demanding for some form of valuables so as to gain favouritism or influence a situation in someone's else favour. Giving or accepting bribes while discharging one's duty as a government official or public office holder is said to be a form of corrupt practices, this could come as a form of gift, money, goods, property, contract award, etc.

Bribery is a crime in which when committed all parties involved are liable to being charged. Bribery harbours other vices such as fraud, cheating, partiality, power abuse, collusion, cartels, etc.

8 0
3 years ago
A company has net income of $865,000; its weighted-average common shares outstanding are 173,000. Its dividend per share is $1.3
Elenna [48]

Answer:

c. 21.00

Explanation:

The formula to compute the price earning ratio is shown below:

Price-earnings ratio = (Market price per share) ÷ (Earning per share)

where,

Market price per share is $105

And, the earning per share would be

= Net income ÷ weighted-average common shares outstanding

= $865,000 ÷ 173,000 shares

= $5

Now put these values to the above formula  

So, the per share would equal to

= $105 ÷ $5

= 21

7 0
3 years ago
In 2008, the value of the stocks listed on the New York Stock Exchange decreased tremendously. As a direct result:
frutty [35]

Answer: 2). Neither U.S. GDP nor U.S. GNP were affected.

Explanation: Gross Domestic Product (GDP) is the total monetary value of all the final goods and services produced in a country during its financial year.

Gross National Product (GNP) on the otherhand is broad measure of the value of all finished goods and services produced in a country in one year by its nationals.

Both GDP and GNP measure goods and services and not financial assets such as shares. Hence, financial assets do NOT contribute to the GDP or GNP of any nation.

3 0
3 years ago
Goods available for sale are $350,000, beginning inventory is $24,000, ending inventory is $32,000 and cost of goods sold is $27
Lera25 [3.4K]
B is the answer to your question
5 0
3 years ago
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