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ipn [44]
3 years ago
8

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

Business
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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If the Fed raises the interest rate, this will ________ inflation and ________ real GDP in the short run.
anzhelika [568]

Answer:

reduce; lower

Explanation:

If this helped, please give brainliest answer! Thanks!

8 0
2 years ago
2. Distinguish between economic and non-economic wants.
bulgar [2K]

Answer:

Difference among the economic wants and the non- economic wants is shown below:

Explanation:

Wants is the term which is described as the desires for the things that the person or an individual may or may not actually require or needed.

a. Economic wants

1. Economic wants are those wants which generally known as the desires and are usually satisfied or fulfilled after taking or consuming he service, goods or in other cases leisure.

2. Economic wants is spending money in order to satisfy the want or the desire.

b. Non - economic wants

1. Non- economic wants are those wants which are generally the human needs, that is required or needed to be satisfied without involve the monetary cost or the value.

2. It might involve the water, air.

3. These are those wants that could be fulfilled without spending the money.

4 0
3 years ago
Eli Lilly is very excited because sales for his nursery and plant company are expected to double from $600,000 to $1,200,000 nex
Nata [24]

Answer:

ending cash balance = -$84,000

Since the profits are not enough to cover asset buildup, he will probably need to borrow money to cover them. Even though his company will be more profitable, its cash position will not be very healthy.

Explanation:

current sales $600,000

net assets = equity = $300,000

return = $600,000 x 8% = $48,000

next year's sales $1,200,000

net assets = equity = $600,000

return = $1,200,000 x 8% = $96,000

asset buildup = $600,000 - $300,000 = $300,000

ending cash balance = beginning cash balance + profit - asset buildup = $120,000 + $96,000 - $300,000 = -$84,000

3 0
3 years ago
Which model of abnormality focuses on learning and the thinking that underlies behavior?
Sonbull [250]

Answer:

The correct answer is: cognitive model.

Explanation:

The cognitive model of abnormality in psychology refers to the study of how people think and what their perceptions are and how they affect their behavior, emotions, and reactions. Because of internal and/or external factors, individuals' thoughts could be distorted. However, they can learn to discriminate between one and another so their perceptions adjust more to reality.

4 0
3 years ago
High Country Corporation acquired two inventory items at a lump-sum cost of $80,000. The acquisition included 6,000 units of pro
SCORPION-xisa [38]

Answer:

$9,000

Explanation:

Calculation for the amount of gross profit that should be recognize

First step is to calculate the

A's sale value = 6,000 unit*12 per unit

A's sale value = $72,000

Second Step is to calculate B's sale value

B's sale value = 14,000 units*4 per unit

B's sale value= $56,000

Third step is to calculate the Total sale value

Total sale value = $72,000 + $56,000

Total sale value= $128,000

Fourth Step is to calculate the Cost of goods sold of A for 6,000 units and 2,000 units

Cost of goods sold of A for 6,000 units = ($72,000/$128,000) * $80,000

Cost of goods sold of A for 6,000 units = 0.5625*$80,000

Cost of goods sold of A for 6,000 units= $45,000

Cost of goods sold of A for 2,000 units = $45,000*2,000/6,000

Cost of goods sold of A for 2,000 units = $15,000

Last step is to calculate the Gross profit of A for 2,000 units

Gross profit of A for 2,000 units = (2,000*12 per units) - 15,000

Gross profit of A for 2,000 units = $24,000 - $15,000

Gross profit of A for 2,000 units = $9,000

Therefore the amount of gross profit that should be recognize will be $9,000

7 0
3 years ago
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