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ra1l [238]
3 years ago
5

Richard Anderson, an entrepreneur residing in Arizona, noticed that many of his friends and neighbors complained of the intense

heat during the summer months. In order to make the heat more bearable, Anderson developed and marketed a simple cooling system that sprayed a fine mist of water into the air. The system attached easily to patio roofs, backyard fences, and even golf carts. Since introducing the product on the market, Anderson has discovered that relatively large changes in the price of the system lead to relatively small changes in demand for his product. The demand for Anderson's product is:
Business
1 answer:
elena-s [515]3 years ago
5 0

Answer:

Inelastic

Explanation:

When the price elasticity of demand (PED) is lower than 1, the demand is said to be inelastic. This means that a 1% increase in the price of a good or service will result in a proportionally smaller reduction of the quantity demanded. The formula for calculating price elasticity of demand is:

PED = % of change in quantity / % of change in price

For example, if the price of gasoline increases by 5% but the quantity demanded for gasoline decreases only by 2%, the PED = 2% / 5% = 0.4, therefore the demand for gasoline is inelastic.

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Read the scenario. It is Election Day. Group X appears at the polls, but each member of that group is turned away and not allowe
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Answer:

Explanation:

Based on the information provided within the question it seems that the voting rights of the members pertaining to Group X have been completely denied. While Group Z members have had their voting rights abridged, meaning that they are being accepted if and only if the conditions/requirements set forth have been met. Which in this scenario that condition/requirement is having a utility bill to validate address.

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3 years ago
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The CEO of Mabel Automobiles was the child of parents who had difficulty making enough money to support their family. As a resul
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Answer:

A. upper-echelons theory

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The Custom Halloween Company purchases a new sewing machine to replace an older machine with limited capabilities. The first wee
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