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Assoli18 [71]
3 years ago
15

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]3 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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Ames, Inc., has $1 million of notes payable due June 15, Year 2. At the financial statement date of December 31, Year 1, Ames si
Delvig [45]

Answer: B. $40,000, $960,000

Explanation:

The long term obligation will be 80% of the collateral value which will be:

= 80% × $1.2 million

= 0.8 × $1,200,000

= $960,000.

Therefore, the short term obligation will be:

= $1,000,000 - $960,000

= $40,000

7 0
2 years ago
Accounting information systems integration
Arlecino [84]
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3 years ago
JT Inc. produces gourmet frozen dinners for the airline industry. JT has fixed costs of $200,000 and variable costs of $8 per fr
nadezda [96]

Answer:

The operating profit for this year amounts to $ 550,000

Explanation:

Operating Profit is computed below as:

Operating Profit = Revenue - Expense (Fixed Cost + Variable Cost)

                           = $1,950,000 - ($200,000 + $1,200,000)

                           = $1,950,000 - $1,400,000

                          = $550,000

Revenue = Number of frozen dinners × Selling Price

               = 150,000 × $13

               = $1,950,000

Variable Cost = Number of frozen dinners × Cost per frozen dinner

                       = 150,000 ×  $8

                       = $1,200,000

6 0
3 years ago
Billie Jean has $120 to spend and wants to buy either a new amplifier for her guitar or a new mp3 player to listen to music whil
Lady_Fox [76]

Answer:

B) people face trade offs

Explanation:

Resources are scarce, and that applies to every person and every organization in the world. Even the richest person or richest organization has a certain finite amount of money, time and other resources. For example, if we decide to work 12 hours a day, we will make more money, but we will also have less time o do other activities that we like.

In this case, Billie Jean only has $120 and she wants to buy both products, but she can only buy one. Whatever product she decides to buy will leave her with $0, so if she wants to purchase the other product she will need to find a job and earn some money, or if she already has a job, she will need to work more hours.

5 0
3 years ago
Identify a campaign that has used symbolism to influence audience decision making
klio [65]

What is symbolism in advertising?

Advertising is a great example of how hidden motives, buying psychology, and eventually communication are combined in a visually stunning way. The main goal of this is to draw in customers, keep them interested in the goods, and ultimately win their loyalty to the company. In order to understand how marketing functions, you need be able to tell compelling stories that are goal-oriented, action-packed, colourful, and visually appealing. Advertising is one of the most scary yet intimate and delicate industries for this very reason.

We discussed how symbolism is used in advertising in this post. Symbols are visual representations of common communication imagery in and of themselves. A bright, blazing, red heart on a billboard will inspire images of love and romance in your head. Since 60% of individuals in the world learn best visually, it is essential to incorporate visual aids while delivering a lesson.

Main Content

Symbolic interactionism is manifested in consumer behavior in the form of symbolic purchasing behavior. This type of purchasing occurs when consumers acquire a specific good or service for what it signifies, based on the symbols attached by society.

To learn more about Symbolism in advertising

https://brainly.in/question/7331314

#SPJ4

3 0
2 years ago
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