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Wewaii [24]
2 years ago
12

A good with many close substitutes is likely to have relatively ___________(elastic,inelastic) demand, since consumers can easil

y choose to purchase one of the close substitutes if the price of the good rises.A good?s price elasticity of demand depends in part on how necessary it is relative to other goods. If the following goods are priced approximately the same, which one has the least elastic demand?-Diamond necklace-A heart valve for heart attack victims
Business
1 answer:
butalik [34]2 years ago
6 0

Answer:

Elastic demand

A heart valve

Explanation:

A good with many close substitutes will have a highly elastic demand. This is because an increase in the price of the good will causes the consumers to purchase one of its cheaper substitutes.  

If both a diamond necklace and a heart valve for heart attack victims are priced the same, the price elasticity for the heart valve will be lower. This is because the diamond necklace is a luxury good but the heart valve is necessary for the survival of the victim.

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Vlad1618 [11]

Answer: Option (C)

Explanation:

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8 0
3 years ago
You have data for compensation of employees, proprietors' income, rental income, and net interest. Can you compute national inco
qaws [65]

Answer:

Cant calculate

Explanation:

The National Income is the total amount of income accruing to a country from economic activities in a year's time. It includes payments made to all resources either in the form of wages, interest, rent, and profits. In this case, National income can not be calculated because data in corporate profits is missing .

7 0
3 years ago
AB When considering two mutually exclusive projects, the firm should always select the project whose internal rate of return is
Mnenie [13.5K]

Answer:

False

Explanation:

If an investment project can be repeated, i.e. its life cycle can be extended by reinvesting, the NPV of the project will change.

When considering two mutually exclusive projects, the NPV method should always be considered before the IRR as a means of evaluating which project should be carried out.

3 0
3 years ago
Read 2 more answers
Larance Detailing's cost formula for its materials and supplies is $1,910 per month plus $10 per vehicle. For the month of Novem
gladu [14]

Answer:

$2,420

Explanation:

Calculation to determine what The materials and supplies in the flexible budget for November would be closest to:

Using this formula

Cost = Fixed cost + (Variable cost per unit × q)

Let plug in the formula

Cost= $1,910 + $10 × 51

Cost= $2,420

Therefore The materials and supplies in the flexible budget for November would be closest to:$2,420

4 0
2 years ago
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zimovet [89]

Answer:

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2 years ago
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