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2 years ago

At higher prices, the price elasticity of demand is likely to be , whereas it is likely to be at lower prices.

Business

1 answer:

Black_prince [1.1K]2 years ago

6 0

Answer:

2. elastic; inelastic

Explanation:

The price elasticity of demand, the amount consumers demand from a particular price are different for each good or service, and when the price changes, the response shown as the change in the quantity requested is different for each good (even at a different price level for one good).

In the face of price changes, the severity (or degree of sensitivity) of the reaction of consumers in the form of changing the amount they buy against this change is measured by the price elasticity of the demand, which is also called demand elasticity. This flexibility is expressed by a coefficient.

The price elasticity coefficient of demand is equal to the ratio of the percentage change in the quantity demanded to the percentage change in price in the face of a small change in price.

The Price elasticity will be elastic when it equals or more than 1, if not it will be inelastic with the amount of less than 1.

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2 years ago

In addition to the three basic financial statements, which of the following is also a required financial statement? O Statement

Vikki [24]

Answer:

Statement of Cash Flows.

Explanation:

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3 years ago

Marketers segment broad markets into smaller target segments based on a variety of _____.

scZoUnD [109]

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3 years ago

ear Net Income Profitable Capital Expenditure 1 $ 14 million $ 8 million 2 18 million 11 million 3 9 million 6 million 4 20 mill

Maru [420]

Answer:

$42 Million

Explanation:

The computation of the total cash dividend is shown below:-

Year Net Income Profitable capital Expenditure Dividends

1 $14 Million $8 Million $6 Million

2 $18 Million $11 Million $7 Million

3 $9 Million $6 Million $3 Million

4 $20 Million $8 Million $12 Million

5 $23 Million $9 Million $14 Million

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3 years ago

All of the accounts of the Grass is Greener Company have been adjusted as of December 31, 2016, with the exception of income tax

yulyashka [42]

Answer:

The income before tax is $370450, the income tax is $111135 and the net income is $259315.

Explanation:

As the data table is not visible,online a similar question is found for which the data is attached here with.

From the given data

Service Revenue=$943,000

Interest Revenue=$127,1000

Total Revenue=Service Revenue+Interest Revenue=$1070100

Now The expenses are given as

Supplies Expense=$349,200

Repairs and Maintenance Expense =$258,300

Depreciation Expense=$60,350

Rent Expense=$ 31,800

Total Expense=Supplies Expense+Repairs and Maintenance Expense+Depreciation Expense+Rent Expense=$699650

So the income before tax is given as

Income=Total Revenue-Total Expense

Income=$1070100-$699650

Income=$370450

So the income before tax is $370450.

Now the tax is estimated at 30% as given tax rate as

Tax=Rate*Income

Tax=30%*$370450

Tax=$111135

So the income tax is $111135.

Now the Net income is given as

Net Income=Income-Tax

Net Income=$370450-$111135

Net Income=$259315

So the Net Income is $259315.

8 0

3 years ago

At higher prices, the price elasticity of demand is likely to be ________, whereas it is likely to be ________ at lower prices.

At higher prices, the price elasticity of demand is likely to be , whereas it is likely to be at lower prices.