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
Lady bird [3.3K]
3 years ago
5

If marijuana were legalized, it is likely that there would be an increase in the demand for marijuana. If demand for marijuana i

s inelastic and the supply of marijuana is perfectly elastic, this will result in a. the same price but lower total revenue from marijuana sales. b. higher prices and higher total revenue from marijuana sales. c. higher prices but lower total revenue from marijuana sales. d. the same price and higher total revenue from marijuana sales.
Business
1 answer:
Mkey [24]3 years ago
4 0

Answer:

C. Higher prices but lower total revenue from marijuana sales.

Explanation:

The above scenario totally explains inelastic demand. Inelastic demand is when the buyer’s demand does not change as much as the price changes. When price increases by 20% and demand decreases by only 1%, demand is said to be inelastic.

When the price increases, people will still purchase roughly the same amount of the good or service as they did prior to the increase because their needs stay the same. A similar situation exists when there is a decrease in price demand will not increase substantially because consumers only have a limited need for the product.

You might be interested in
Wanda takes $3,000 from her savings account that pays 5 percent interest per year and uses the funds to purchase a computer for
Salsk061 [2.6K]

Answer:

$1,150

Explanation:

Implicit rental rate refers to the cost that a company incurred by spending money as opposed to what that money could earn if it were invested in something else. Therefore since in a year the computer was worth $1000 less and Wanda also lost out on the 5% that the savings account would have generated which would be $150. Then her total cost is that of $1,150

7 0
3 years ago
The sources of economic growth are​ _______. A. work hours growth and labor productivity growth B. democracy and labor productiv
Luden [163]

Answer:

A. work hours growth and labor productivity growth

Explanation:

An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.

Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.

Basically, there are four (4) main types of economy and these are;

I. Mixed economy.

II. Free market economy.

III. Traditional economy.

IV. Command economy.

Generally, the sources of economic growth of a country are​ work hours growth and labor productivity growth.

Labor (working) is simply the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.

7 0
3 years ago
A(n) _____ is a legal entity whose assets and liabilities are separate from that of its owners'. It can also enter into contract
ser-zykov [4K]

Answer:

The correct answer is letter "B": corporation.

Explanation:

A Corporation is an organization -usually a large business- with specific characteristics. Under the law, corporations are deemed separate legal entities from their owners. This means that <em>corporations themselves, not the owners, are legally liable for their actions and debts.</em>

7 0
3 years ago
What are the advantages of crème makeup over pancake makeup?
Vanyuwa [196]

Answer:

Explanation:

Pancake makeup is the trademarked name held by the Noxell Corporation for a cosmetic face powder that has been compressed into a cake and is applied as a make-up base with a damp sponge. Great for All Skin Types. Because Cream foundation works well on all skin types it will answer the question whether it is right for you. .. So both are great for skin depending on what brand or kind

3 0
3 years ago
Read 2 more answers
David purchases a yacht solely for the purpose of entertaining real estate clients. He wishes to position himself as a high-end
inysia [295]

Answer:

The tax deductions for the year are as follows:

Depreciation                             $28000

Catering expenses (50%)          $4500

Total deductions                        $32500

Explanation:

Depreciation is deductible in full as it is an operating expense for the year 2018.

Catering expenses deduction is limited to 50% maximum ,while the remaining 50% is not an allowable deduction for tax purposes.

6 0
3 years ago
Other questions:
  • A parcel of real estate has been left to a woman through her husband's will for her use and enjoyment during her lifetime, with
    10·1 answer
  • "the table above shows the payoff matrix offered to two suspected criminals, bonnie and clyde. the payoffs are the years they wi
    15·1 answer
  • by default power point slides have one font for _ and one for body text a)footers b)tables c)text boxes d) heading
    7·1 answer
  • A company has net income of $187,000, a profit margin of 8.6 percent, and an accounts receivable balance of $126,370. assuming 6
    10·1 answer
  • Which of the following is an assumption of a special order decision? Group of answer choices The special order sales will not af
    8·1 answer
  • Dallas Company uses a job order costing system. The company's executives estimated that direct labor would be $5,130,000 (190,00
    13·1 answer
  • During the production era, in the early part of the 1900s, major businesses focused on: a. refining the production process and c
    7·1 answer
  • Sexual Violence Awareness (Campus SaVE Act):
    7·1 answer
  • An accounting clerk for Chesner Co. prepared the following bank reconciliation:
    6·1 answer
  • Education opens the door emplyment​
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!