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shtirl [24]
3 years ago
10

Name three factors that determine a good’s or service’s elasticity.

Business
2 answers:
pav-90 [236]3 years ago
4 0

Answer:

Many factors determine the demand elasticity for a product, including price levels, the type of product or service, income levels, and the availability of any potential substitutes. High-priced products often are highly elastic because, if prices fall, consumers are likely to buy at a lower price.

Explanation:

katen-ka-za [31]3 years ago
3 0

Answer:

<h3>(1) availability of substitutes</h3><h3>(2) if the good is a luxury or a necessity, </h3><h3>(3) the proportion of income spent on the good, and</h3><h3>(4) how much time has elapsed since the time the price changed.</h3>
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Patrick has chosen to double major in finance and microbiology and studies 14 hours a day as a result. To make it through his st
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D) The extra energy benefits Patrick gets from another can are no longer worth the cost. MB/MC (S)

Explanation:

The optimal quantity for Patrick to consume is 5 cans of GreenCow.

This is the quantity where MARGINAL BENEFIT EQUALS MARGINAL COST. For all quantities up to the 5th, the marginal benefit is higher than the marginal cost. This means that Patrick's net benefit is increasing, and consuming all units up to this point make him better off.

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3 years ago
Which of the following statements about high-LPC leaders is most likely true?
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D. They are primarily satisfied by establishing and maintaining close interpersonal relationships.

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3 years ago
A _____ website structure is appropriate if visitors should view the webpages in a specific order, as in the case of training ma
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2 years ago
This information relates to Cheyenne Real Estate Agency.
gregori [183]

Answer and Explanation:

The Journal entry is shown below:-

1. Cash Dr,                            $31,770

       To Common stock               $31,770

(Being issuance of shares for cash is recorded)

2. No Journal Entry is required

3. Office furniture Dr,          $3,740

       To Accounts payable           $3,740

(Being purchase of office furniture on credit is recorded)

4. Accounts receivable     $10,430

            To service revenue        $10,430

(Being customer billed for service is recorded)

5. Cash                                $185  

            To credit revenue       $185

(Being cash received for service is recorded)

6. Accounts payable $800  

                To cash                $800

(Being cash paid for office furniture purchased is recorded)

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(Being salary paid is recorded)

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