1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
babunello [35]
3 years ago
15

Which situation best illustrates the concept of elastic demand for a product?

Business
2 answers:
miss Akunina [59]3 years ago
4 0

Answer:

A a reasturaunt sees fewer customers each month

Explanation:

marissa [1.9K]3 years ago
3 0

Answer:

D. A restaurant begins to see fewer customers each month after

raising its prices.

Explanation:

Elastic demand describes a situation where the demand for a good or service experiences big changes due to a small price change. It means the change in demand is not proportionate to the price change.

The term elastic demand implies a stretching demand. A restaurant seeing fewer customers after raising its prices is an example of Elastic demand. The increase in prices of the restaurant products has caused a significant decline in demand.

You might be interested in
Mergers of separate local governments in an effort to reduce bureaucratic redundancy and service inefficiencies are known as ___
ipn [44]

Answer:

The correct answer is City-County Consolidation.

Explanation:

To deal with the recession and reduce costs, several municipalities in the United States join their services, departments and, in some cases, even complete mergers.

According to the US local government, a consolidated city-county, metropolitan municipality or regional municipality is a city and county that have combined to form a jurisdiction.

A metropolitan municipality is a consolidated city-county or a metropolitan government, or both. If the jurisdictional area of the consolidated city-county is a mixture of an urban or suburban or rural area, the term "regional municipality" may also be used.

6 0
3 years ago
Hibshman Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginnin
ruslelena [56]

Answer:

Estimated manufacturing overhead rate= $23.973 per machine-hour.

Explanation:

Giving the following information:

Estimated total machine-hours= 15,000

The estimated variable manufacturing overhead was $7.36 per machine-hour.

The estimated total fixed manufacturing overhead was $249,200.

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= (249,200/15,000) + 7.36

Estimated manufacturing overhead rate= $23.973 per machine-hour.

8 0
3 years ago
In a Cobb–Douglas production function the marginal product of labor will increase if:
KengaRu [80]

Answer:

Option "B" is the correct answer to the following statement.

Explanation:

The rise in the labor workforce would raise the productive output of capital in a specific Cobb – Douglas output method, and it will raise the actual rental price of resources.

The gross amount of capital would also rise in the output of Cobb-Douglas if the volume of labor grows.

Under this function, human capital will help in the production of the product, human capital and marginal production are directly proportionate to each other.

3 0
3 years ago
Terapin Company engages in the following external transactions for November. 1. Purchase equipment in exchange for cash of $23,4
uysha [10]

Answer:

Journal Entries

Journal 1 :

Equipment $23,400 (debit)

Cash $23,400 (credit)

Being Purchase of Equipment

Journal 2 :

Cash  $6,800 (debit)

Service Revenue  $6,800 (credit)

Being Service rendered for Cash

Journal 3 :

Salaries Expense $2,100  (debit)

Cash $2,100 (credit)

Being Salaries expense paid

Explanation:

Narrations have been provided to explain the transaction. Remember to use the account titles provided in accounting for the transactions.

8 0
3 years ago
The HRM specialists at A&C Company took the opportunity to increase productivity and decrease manual data analysis by using
FrozenT [24]

Answer:

<u>Skills inventory</u>

Explanation:

Skills inventory refers to the skills stored in an individual i.e one's capabilities and skills.

Skills inventory assessment makes an employer identify how well an employee would be able to meet the skills required at the job and how those skills would aid in the achievement of organizational goals.

It refers to assessing and understanding the competencies of the current staff by an organization.

For the above purpose, businesses may use commercial software or database management systems (DBMS).

In the given case, the HRM specialists exercised the option of using computer network in addition to database management system, to develop a skills inventory , post which, the company is able to successfully identify specific organizational skills.

6 0
3 years ago
Other questions:
  • Pollachek Co. purchased land as a factory site for $430000. The process of tearing down two old buildings on the site and constr
    8·1 answer
  • What is the name of the food production strategy, which is characterized by "slash and burn, swidden agricultural techniques use
    11·1 answer
  • For example, in 2012, each of the 80 billion pieces of advertising brought 21 cents in revenue, compared to 42 cents for first-c
    15·1 answer
  • Less than 18 percent of voluntary customer contributions in a recent year went to renewable energy development in the duke power
    13·1 answer
  • Each sole proprietor that applies for initial registration in a State as either a broker-dealer or investment adviser must file:
    10·1 answer
  • Immediately after an ice storm brought down power lines throughout the region, hardware stores were sold out of batteries and fl
    7·2 answers
  • Imagine you are the owner of a natural gas company. You can either extract as much of the resource as fast as possible or delay
    9·1 answer
  • What would be the annual cost saved by shifting from the ​-bag lot size to the​ EOQ? The annual holding cost with the EOQ is ​$
    12·1 answer
  • Which market characteristic could best be described as market participants focusing production on a selection of goods and servi
    8·1 answer
  • The Osgood county refuse department runs two recycling centers. Center 1 costs $40 to run for an eight hour day. In a typical da
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!