Answer:
Goods on which consumer spend less proportion of his income has an inelastic demand like a needle and newspaper. But the amount of income of a consumer does not affect the price elasticity of demand. Consumer's income has no relation with the price elasticity of demand for a particular good.
Explanation:
<em>Answer:</em>
<em>Answer:If you haven’t been on a Disney vacation in the past decade, then you may not be familiar with Disney’s MagicBands. These bands, similar in size to a FitBit, were introduced in 2013 as part of a major technology overhaul to the guest experience at Walt Disney World. Disney guests start by planning their vacation and pre-booking many of their desired vacation experiences on My Disney Experience online accounts.</em>
<em>Answer:If you haven’t been on a Disney vacation in the past decade, then you may not be familiar with Disney’s MagicBands. These bands, similar in size to a FitBit, were introduced in 2013 as part of a major technology overhaul to the guest experience at Walt Disney World. Disney guests start by planning their vacation and pre-booking many of their desired vacation experiences on My Disney Experience online accounts.Once arriving on site at Disney, MagicBands are tools to unlock many features of that high-tech vacation experience. For example, guests can use MagicBands as a room key for on-property hotel rooms, to charge purchases, to scan into theme parks entrances and Lightning Lanes, and much more. MagicBands are made of flexible plastic and fit around guest wrists so they go can everywhere each guest goes.</em>
Answer:
the answer is yes or true
Explanation:
you can understand it by Pricing strategy is the overarching approach used to set pricing for a company's products and services. It doesn't define actual price points, but the pricing structure is a consequence of the strategy, and it's where you set the price customers see
Answer:
1 unit of X must be sacrifised to gain a unit of Y, with satisfying Budget Constraint .
Explanation:
Budget Line shows the product combinations that a consumer can buy with given prices & money income (spending all) . Equation : P1X1 + P2X2 = M
Price ratio slope of the budget line i.e = P1/P2 : shows the amount of a good needed to be sacrifised to gain a unit of the other good , given prices & income.
So, Price Ratio : PX / PY = 2 / 2 = 1 in this case; implies 1 unit of Good X is needed to be sacrifised to gain a unit of good Y with given prices & income.
