An elastic products prices are responsive to changes in demand. Generally, the necessity of the product is related to it's elasticity. For example, insulin is essential for diabetics, so the price is extremely inelastic—people will pay any amount because it is a life or death situation. The price of a new MP3 player can be inelastic, especially because results show that people want the newest thing, and will pay more if it works better than the previous model. Additionally, the price of "scalper" tickers to the World Series will increase by demand, but they will still sell regardless. The price of dairy products, however, is rather elastic; this is because when the price rises, people switch to a cheaper brand. The difference between an inelastic and elastic product is that elastic products have substitutes, whereas inelastic products have no substitutes (or sometimes very few).
Answer: A. the price of dairy products
hope this helps :)
Answer:
have inferior production capabilities (such as a low value of A in the production function) and not enforce property rights (so that investments in the poor countries might be expropriated by the governments there).
Explanation:
According to our discussion in class, two reasons why capital may not flow to poor countries are that the poorer countries may: have inferior production capabilities (such as a low value of A in the production function) and not enforce property rights (so that investments in the poor countries might be expropriated by the governments there).
Poor countries have lower levels of capital per worker and this explains, in part, the reason for their poverty. Although the expected return on investment might be high in many developing countries, it does not flow there because of the high level of uncertainty associated with those expected returns. and lack of enforcement of property rights
Medicare coverage outside the United States is limited.
mostly, Medicare won’t pay for health care or supplies you get outside the U.S.
The term “outside the U.S.” means anywhere other than the 50 states of the
U.S., the District of Columbia, Puerto Rico, the U.S., Guam, American Samoa,
and the Northern Mariana Islands, Virgin Islands.
<span>if there are no shoes at the door from which he leaves to go running, he runs barefoot. but i would think this to be a math probability question</span>
Answer: The correct answer is "(B) Amputation procedures for diabetes sufferers".
The price elasticity of demand measures the degree of response of the quantity demanded of a good, given the change in the price of that good.
The demand for a good or service is less elastic when, given a change in the price, the demand varies in a smaller amount and the demand for a good or service is more elastic when, before a change in the price, the demand varies by greater or equal. Quantity than the price.
Between a diamond necklace and amputation procedures for patients with diabetes it is clear that the demand for amputation procedures for patients with diabetes is less elastic than that of a diamond necklace, since being a consequence of a disease and being treated of the health of the people the demand varies little or very little before a change in the price. On the other hand, a diamond necklace is a luxurious asset, which is not of extreme necessity for people.
