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3 years ago

8

How does the price range affect the elasticity of demand for a product?

1 answer:

Keith_Richards [23]3 years ago

7 0

Answer:

How does the price range affect the elasticity of demand for a product?

Demand for all goods is elastic if the price is low enough.

Price range has little or no effect on elasticity of demand for a good.

Demand for a good can be inelastic at a low price, but elastic at a high price.

Demand for a good can be elastic at a low price but inelastic at a high price.

Explanation:

How does the price range affect the elasticity of demand for a product?

Demand for all goods is elastic if the price is low enough.

Price range has little or no effect on elasticity of demand for a good.

Demand for a good can be inelastic at a low price, but elastic at a high price.

Demand for a good can be elastic at a low price but inelastic at a high price.

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When the price level changes, which of the following variables will change and thereby cause a change in the aggregate quantity

jok3333 [9.3K]

Answer:

The correct answer is option d.

Explanation:

When there is an increase in the price level, the purchasing power of money decreases. People will need more amount of money to purchase the same level of goods. This will reduce the real value of wealth.

When the purchasing power decreases and people need more amount of money to purchase the same level of goods, the demand for money will increase. This will cause the interest rate to rise as well.

As the price level increases, domestic goods become relatively expensive. This will cause the export demands to decline. So the demand for domestic currency will also decline. This will further cause the value of currency to depreciate.

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3 years ago

Which of the following best describes retained earnings? Select one: Shows in and out flows of cash from the company during a pe

jarptica [38.1K]

The option that best describes retained earnings is records level of reinvested profits.

<h3>What is retained earnings?</h3>

Retained earnings is the amount of a company's earnings that is not paid out to shareholders as dividends or used to pay debtors. It is the amount of money that can be reinvested into the business.

To learn more about retained earnings, please check: brainly.com/question/14529006

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1 year ago

A bank provides its customers mobile applications that significantly simplify traditional banking activities. For example, a cus

zaharov [31]

Answer: Differentiation strategy

Explanation:

Differentiation strategy is a strategy that differentiate a product or service, from other identical products that are offered by competitors in the market. Differentiation is development of a good or service, which is unique for customers, in terms of features, product design, quality, brand image, or customer service.

Differentiation strategy is one of the three Porter’s Generic Strategy. In this strategy, firms pick one or more dimensions that are considered to be vital by the consumers thereby creating a unique image in the market.

The use of mobile banking application will ease the traditional method of banking and makes the bank standout.

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3 years ago

When current real output exceeds potential real output, the federal reserve will _____ interest rates in an effort to fight ____

Serggg [28]

<span>When current real output exceeds potential real output, the federal reserve will increase interest rates in an effort to fight inflation.
Fed stands for federal reserve system and it refers to the </span>central banking system of the United States, which was created on December 23, 1913.<span> There are twelve regional banks that are included in the Federal Reserve System.</span>

5 0

3 years ago

Dan Weaver wants to set up a fund to pay for his daughter's education. In order to pay her expenses, he will need $20,000 in fou

Mrrafil [7]

Answer:

$63,913.50

Explanation:

We are to find the present value of the cash flows from year 4 to 7

Present value can be calculated using a financial calculator

Cash flow each year from year 1 to 3 = $0

Cash flow in year 4 = $20,000

Cash flow in year 5 = $21,100

Cash flow in year 6 = $22,900

Cash flow in year 7 = $24,300

I = 6%

Present value = $63,913.50

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

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2 years ago