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Reil [10]
3 years ago
13

3) When there are more substitutes for a product, the ________ for the product is ________. A) demand; less price elastic

Business
1 answer:
balu736 [363]3 years ago
6 0

Answer:

Explanation:

When there are more substitutes for a product, the demand for the product is more price elastic. The implication of this is that the demand of such product will drop when there is increase in it price because people can get another product which will play the same role with the previous at a lesser price. Hence, the demand for the product vis more price elastic.

You might be interested in
Why does actual group productivity never equal potential productivity?
Rama09 [41]

The answer to the question is (C) time is lost to coordinating and organizing group members.

Actual group productivity is never quite equal to the expected productivity mainly because there are other processes involved in the team that the team members must do in order to reach the set common goal. Some of these processes usually include determining how to do the work and distributing the assignments to the right person, as well as setting the roles in the team.

4 0
3 years ago
Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can
bixtya [17]

Answer:

Georgeland has an absolute but not a comparative advantage in producing clothing.

Explanation:

Absolute advantage is defined as the ability of a firm to produce higher amounts of a product as a result of use of the same resources with other competitors. It is usually bad a result of more efficient production process.

Comparative advantage is the ability of a firm to produce goods at a lower opportunity cost. Therefore they are able to sell at lower price compared to competitors.

Georgeland can produce 18 units of clothe per year while Alland can produce 16 units per year, so Georgeland has absolute advantage.

In producing clothes Georgeland has opportunity cost of 36 units of food which is higher than that of Alland which is 32 units of food. So Georgeland does not have comparative advantage in producing clothes.

3 0
3 years ago
The total amount that you owe for income tax in one year is your tax
Keith_Richards [23]
Yes,yes, it is.

making it longer so i can answer
4 0
3 years ago
To form a corporation, the organizers must follow the requirements set forth by the corporation code of the state in which the c
Fantom [35]

Answer: Incorporating a corporation

Explanation:

According to the question, the given process is known as incorporating the corporation. As, the incorporation is one of the type of legal process in which the organization are used the various types of corporate entities to form a corporation.

The corporation is the type of legal entity in an organization which results into the separation of investors and the owner.

According to the question, the organizers uses the proper requirement with the help of corporation code to form a proper corporation.

8 0
2 years ago
What is the present value of receiving $100 investment two years from now at a 10 percent annual discount rate
guapka [62]

Answer: $121

Explanation:

The question simply wants us to find the present value of receiving $100 investment two years from now at a 10 percent annual discount rate.

This can be easily solved as follows:

For the first year, the $100 will be worth:

= $100 + ($100 × 10%)

= $100 + ($100 × 0.1)

= $100 + $10

= $110

The worth at the end of the second year will then be:

= $110 + ($110 × 10%)

= $110 + $11

= $121

8 0
3 years ago
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