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vlabodo [156]
3 years ago
9

The price-elasticity of demand coefficient, Ed, is measured in terms of:_______

Business
1 answer:
Kaylis [27]3 years ago
7 0

Answer:

c. percentage change in price and percentage change in quantity demanded.

Explanation:

A price elasticity of demand can be defined as a measure of the responsiveness of the quantity of a product demanded with respect to a change in price of the product, all things being equal.

The price-elasticity of demand coefficient, Ed, is measured in terms of percentage change in price and percentage change in quantity demanded.

The demand for goods is said to be elastic, when the quantity of goods demanded by consumers with respect to change in price is very large. Thus, the more easily a consumer can switch to a substitute product in relation to change in price, the greater the elasticity of demand.

Generally, consumers would like to be buy a product as its price falls or become inexpensive.

For substitute products (goods), the price elasticity of demand is always positive because the demand of a product increases when the price of its close substitute (alternative) increases.

If the price elasticity of demand for a product equals 1, as its price rises the total revenue does not change because the demand is unit elastic.

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A good or service is said to be highly elastic if there is a a slight change in price this will cause a  sharp change in the quantity. Usually these kinds of products are readily available in the market - example is jewelry. lottery ticket.

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3 years ago
The purpose of a budget is to track your income and your spending. true or false?
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3 0
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Read 2 more answers
On July 16, 2017, Logan acquires land and a building for $500,000 to use in his sole proprietorship. Of the purchase price, $400
SashulF [63]

Answer:

A.Land $100,000

Building 400,000

B.Land $100,000

Building 395,292

Explanation:

a. Logan's adjusted basis at acquisition date will be the cost of the land and that of the building which is:

Land $100,000

Building 400,000

b. What will be Logan adjusted basis at the end of 2017 :

Land will be: $100,000

Building will be :395,292

($400,000 − $4,708)

Thus the Depreciation is a capital recovery.

4 0
3 years ago
Amy and Todd Irving's monthly expenses for June, July, and August are as follows: June: $3,260, July: $3,537, and August: $3,430
Sunny_sXe [5.5K]

The correct answer is $3409

Explanation:

The average refers to the number or value that represents the "mean" or "middle point" in two or more values. Moreover, the general rule to find this value is to add all the values, in this case, it is necessary to add the expenses of the three months, and then divide the total by 3 (number of values) as there are three months. The process is shown below:

$3260 + $3537 + $3430 = $10227

10227 ÷ 3 = 3409

3 0
3 years ago
if you cause a car accident, which type of insurance will require you to pay the least out of pocket?
Nonamiya [84]

a high deductible plan would require the least out of pocket... a low deductible would be the opposite and you would pay most out of pocket

3 0
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