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bezimeni [28]
3 years ago
9

The demand for cooldrink is price elastic if

Business
1 answer:
Marizza181 [45]3 years ago
5 0

Answer:

see below

Explanation:

Elastic demand describes a scenario where a small change in price results in a significant difference in the quantity demanded. The term 'elastic ' suggests a moving or a stretching demand. Goods that have many substitutes have an elastic demand.

A product or service will have an elastic demand when a small price change greatly affects consumption. Customers will still seek alternative cheaper options if the price increases, which causes demand to drop significantly. The demand for cooldrink is price elastic if a small change in price results in demand changing considerably.

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Characteristics of competitive markets
Greeley [361]

Answer:

Explanation:

First scenario: The answer is No, not many sellers. The drug of the pharmaceutical company has patent right and it is the only firm selling this product. This makes the company a monopolist (single seller)

Second scenario: No, not an identical product. Cable company and phone company produce different products. Cable companies majorly deal with television access.

Third Scenario: no, not many sellers. One firm is dominating the market and customers prefers this. Its product has been differentiated and it can charge its own price.

Fourth scenario: yes,meets all assumptions. The socks are identical and consumers do not care about the seller because the same utility will be derived from the socks.

7 0
3 years ago
The cost of rainforest preservation can be lowered for developing countries by
EastWind [94]
The cost of rainforest preservation can be lowered for developing countries by the development of alternative rainforest products.
4 0
3 years ago
Based on the following information, what is the balance on the financial account? Exports of goods and services = $5 billion Imp
Olegator [25]

Answer:

3 billion

Explanation:

the financial account will be the cash inflow less the cash outflow:

Increase in foreign holdings of assets in the United States = $4 billion Increase in U.S. holdings of assets in foreign countries = -$1 billion

4 billion of dollar enter the US from aboard while 1 billion left the country with destination aboard in total the financial account will be:

4 billion - 1 billion = 3 billion

4 0
4 years ago
List one big thing that you would like to buy. What short-term, mid-term, and long-term goals would you need in order to make th
OleMash [197]
I would like to buy a mansion
short term goals will be, work at McDonald until 40
mid-term goals will be do a online job
Long-term goals will be get a great paying job and finish High school and collage.
hope this helps.

4 0
3 years ago
Gabbe Industries is a division of a major corporation. Last year the division had total sales of $23,826,400, net operating inco
pashok25 [27]

Answer:

a. Division margin:

= Net operating income / Total sales

= 2,835,342 / 23,826,400

= 11.9%

b. Division turnover:

= Sales / Total assets

= 23,826,400 / 9,164,000

= 2.6 times

c. Division ROI:

= Net operating income / Total assets

= 2,835,342 / 9,164,000

= 30.94%

5 0
3 years ago
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