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babunello [35]
2 years ago
15

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

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

Answer:

A a reasturaunt sees fewer customers each month

Explanation:

marissa [1.9K]2 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.

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HELP! ASAP!! Ben helps people choose the right insurance policy and sets up their policies. He is:
wlad13 [49]

Answer:

The correct answer would be A, An Insurance Agent.

Explanation:

An Insurance agent is an agent who helps people choose the right insurance policy and sets up their policies. Insurance Agent can be an independent person selling Insurance policies for commission or can be an employee of the insurer company. This person acts as an agent and help people in deciding which policy to choose according to their needs and wants. He also sets up their policies. For example, if a person is married and has children, the insurance agent may ask him to choose the education insurance for his children. He may also ask him to pick the life insurance policy to get him family secured after his demise. So an insurance agent not only helps people choose their policies but also helps them set up.

6 0
2 years ago
When janice went to work as a hair stylist in rick's beauty shop, she entered into an agreement with rick whereby if she left sh
ASHA 777 [7]

<span>The question is incomplete, here is the complete question which I previously came across;</span>

When Janice went to work as a hair stylist in Rick's beauty shop, she entered into an agreement with Rick, whereby, if she left she would not work for another beauty shop within 50 miles for 2 years. Rick trained Janice in a number of new techniques. After nine months, Janice was offered a great job down the street at a new beauty shop, quit Rick, and had a number of customers follow her down the street to her new job. Rick claimed that she had signed a contract and had no right to go to work at the new shop. Janice disagreed and told Rick that no judge in the country would enforce such an agreement. Janice told Rick that she was more worried about a customer, Treena, who was threatening to sue her because her hair turned green after Janice worked on it. Janice agreed that Treena's hair was damaged. Janice pointed out, however, that she told Treena that odd results could result from a dye attempt, and she required that Treena sign a contract releasing Janice from all liabilities before she did anything with Treena's hair. Treena, however, sued anyway. The agreement Rick and Janice entered into is referred to as?


The answer is, the agreement Rick and Janice entered into is referred to as "<span>covenant not to compete".</span>

<span>
</span>

It is hard to decide if a judge will implement a non-competition agreement. While the privileged insights of a business are important, the law additionally puts value to a person's opportunity to seek after other work. To be enforceable Courts more often than not require that a contract not to compete be sensible. In California, non-competes are adequately unlawful except if you are selling a business. Different states will implement a few provisions, as a rule the trade secret protection, however not the work limitations.

3 0
3 years ago
Assume that the money demand function is (M / P)d = 2,200 – 200r, where r is the interest rate in percent. If the price level is
Wittaler [7]

Answer:

The money supply should be set at 800

Explanation:

In this question, we are asked to calculate the value at which Fed should set the money supply at after fixing the interest rate at 7 percent.

We proceed as follows;

Let the new money supply be M.

To fix the interest rate at 7%, r= 7 and P = 2

(M/P)d = 2,200 - 200r

= 2200 - 200(7)

=2200-1400

= 800

M = 800

8 0
2 years ago
What are some characteristics of social enterprises
givi [52]

Answer:

see below

Explanation:

Social enterprises participate in commercial activities to solve social problems, improve communities' well-being, and better the environment. They make money through normal trading activities.

<em>Some characteristics of social enterprises include</em>

1. They have a mission to serve the community by initiating and supporting social, environmental, cultural, and economic programs. Social enterprises are not entirely driven by profits but have social missions to achieve.

2. Social enterprises generate the majority of their income through business activities. They are self-reliant as the selling of goods and services is their primary source of revenue.

3. A big proportion of the profits generated by social enterprises is invested in community projects. Social enterprises use profits to achieve their social objectives.

4 0
2 years ago
The category that is generally considered to be the best measure of a company's ability to continue as a going concern is A. cas
saul85 [17]

Answer:

D. cash flows from operating activities

Explanation:

Operating activities include the functions of a business with respect to providing its goods and services to the market. Operating activities for a company include sales, manufacturing, marketing activities and advertising. The category that is generally considered to be the best measure of a company's ability to continue as a going concern is cash flows from operating activities.

8 0
3 years ago
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