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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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The Center is an experienced home appliance dealer. The Center also offers a number of services together with the home appliance
Airida [17]

Answer:

The amount that should be allocated to the oven is $771.12.

The amount that should be allocated to the installation services is $102.75.

The amount that should be allocated to the maintenance services is $166.13.

Explanation:

Total price=Standard price   oven  +Standard price  Installation  +Standard price  

Maintenance ​  

=$803+$107+$173

=$1,083

Price allocated=Stand alone price of oven   / Total price  ×Price paid by customer

=  $803 / $1,083  ×$1,040

=$771.12

Price allocated=  

Stand alone price of installation service/ Total price

​  ×Price paid by customer

=  

$107 / $1,083   ×$1,040

=$102.75

​

Price allocated=   Stand alone price of maintenance service  /Total price

​  ×Price paid by customer

=   $173 /$1,083  ×$1,040

=$166.13

​

6 0
3 years ago
Ann is trying to decide which one of two job offers she will accept. Several items are presented below: Job Offer A(1)Base Salar
andrew-mc [135]

Answer:

1)Base Salary $50,000

(3)Moving allowance $3,000

(5)Job search costs incurred $300 Job Offer

Explanation:

In this scenario, the person who is trying to decide for a job change will look at various things that can improve their future to the greatest extent.

Like: Medical allowances, paid leaves, overtime wages, bonuses, and incentives, etc.  

Many factors are there to join a new company.  

Based on the situation, the overtime compensation, and the signing bonus are the reasons to accept the job offer.

And, the remaining reasons like - basic salary, moving allowance are the service which is the same for most of the companies. The job search cost is a sunk cost that is not recovered.  

Hence, these costs will not be considered.

5 0
2 years ago
Equivalent Units of Materials Cost The Rolling Department of Kraus Steel Company had 200 tons in beginning work in process inven
belka [17]

Answer:

The total equivalent units for direct materials for October is  4,200

Explanation:

The Concept of Equivalent Units measures the number of units completed in terms of input element introduced in the process.

The Equivalent Units are Calculated on the units ending that is on  the Units Completed and Units of Closing Work in Process

Note that materials are added at the beginning of the process

<u>Units Completed</u>

Are 100% complete in terms of Raw Materials

Equivalent units = 3900 × 100 % = 3900

<u>Units of Closing Work in Process</u>

Are 100% complete in terms of Raw Materials

Equivalent units = 30 × 100 % = 300

Total Equivalent Units = 3900+300 =  4,200

6 0
3 years ago
What tips should he follow? Check all that apply. Cross your arms in front of you. Stand with your hands in your pockets. Don’t
Marta_Voda [28]

Answer:

  • Don't Chew Gum
  • Listen Attentively
  • Sound Enthusiastic and Sincere
  • Use proper language and enunciate clearly

Explanation:

(Avoid Clarifying vague questions might be an answer but not sure. I'm sorry if I am wrong)

8 0
3 years ago
The feature that differentiates monopolistic competition from monopolies and oligopolies is that monopolistically competitive fi
Georgia [21]

Monopolistically competitive firms (A) cannot influence the market price by virtue of their size alone while monopolies and oligopolies can.

<h3>What is a monopoly?</h3>
  • A monopoly occurs when there is a single seller in the market.
  • The monopoly case is considered the polar opposite of perfect competition in conventional economic theory.
  • The demand curve facing the monopolist is, by definition, the industry demand curve, which is downward sloping.
<h3>What is oligopoly?</h3>
  • Oligopolistic markets are characterized by a small number of suppliers.
  • They can be found in all nations and in a wide range of industries.
  • Some oligopoly markets are very competitive, whereas others are substantially less so, or appear to be.

Monopolistically competitive enterprises, unlike monopolies and oligopolies, cannot influence market prices only through their size.

Therefore, monopolistically competitive firms (A) cannot influence the market price by virtue of their size alone while monopolies and oligopolies can.

Know more about monopoly here:

brainly.com/question/13113415

#SPJ4

Correct question:

The feature that differentiates monopolistic competition from monopolies and oligopolies is that monopolistically competitive firms.

(A) cannot influence the market price by virtue of their size alone.

(B) are price takers.

(C) do not have a price as a decision variable.

(D) benefit from barriers to entry.

7 0
1 year ago
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