use the total revenue test to determine whether the demand for home heating oil is elastic or inelastic and why

1 answer:

6 0

Home heating oil is considered inelastic demand instead of elastic demand. Inelastic demand is when people will buy the same amount whether the price of the good drops or rises. People who buy home heating oil want their homes to be kept heated and warm, since they are buying it to serve a purpose like this, whether the price rises or drops they still will need it. Since they will need it regardless of price, they will continue to buy it and therefor it is inelastic.

You might be interested in

A _____ is something that has been learned.

vfiekz [6]

Hello,

A fact is something that has been learned.

I think, Im not 100% sure!

6 0

3 years ago

Read 2 more answers

Why it is important for alsa management to understand the importance of social media for their work

alina1380 [7]

Answer: It is significant for the ALSA supervisory group to comprehend the significance of online media in their work since they had their best pledge drive because of web-based media. ... The ALSA supervisory crew likewise comprehended that the effect of rehashing the occasion one year from now would not be the equivalent.

Explanation:

3 0

3 years ago

Sheila receives a merit scholarship to cover part of her private college tuition. Her parents have a low income, poor credit, an

vfiekz [6]

Answer:

The correct answer would be D, Sheila's parents will qualify for a Plus loan because of their low income.

Explanation:

PLUS loan stands for Parents Loan for Undergraduate Students. It is the loan given to the parents of the students who are graduating with the college. It can be a post secondary loan. This loan is given to the students who cannot afford to meet the expenses of their studies as well as of other activities like books, notes, handouts etc. This loan is given to the parents of the students who have low incomes and can't afford to finance their child's education.

8 0

3 years ago

The following is the ending balances of accounts at December 31, 2021, for the Vosburgh Electronics Corporation:

shtirl [24]

Answer:

Find the balance sheet in attached excel file

Explanation:

Please note that the workings is before the final figures placed in respective columns.

Download xlsx

6 0

3 years ago

Joey set up a lawn-mowing business in his neighborhood. He currently has 7 customers that want their lawns mowed each week, for

monitta

Answer:

Joey's weekly revenue is $175.

4 0

3 years ago