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8090 [49]
3 years ago
7

When a customer chooses to accept an item of value from a business because it requires no incremental spending on the part of th

e customer, the customer is demonstrating the principle that:A. markets are an efficient way to organize economic activity.B. specialization produces benefits for society.C. customers are smarter than businesses.D. rational people think at the margin.
Business
1 answer:
iVinArrow [24]3 years ago
7 0

Answer:

The correct answer is letter "B": rational people think at the margin.

Explanation:

The "rational people think at the margin" principle means that consumers consider the marginal benefits and costs of acquiring a good or service before the purchase is made. Purchases typically take place when the marginal benefit is higher than the marginal cost.

You might be interested in
What Is margin of safety?
skelet666 [1.2K]

Answer:

Margin of safety is a principle of investing in which an investor only purchases securities when their market price is significantly below their intrinsic value. ... Alternatively, in accounting, the margin of safety, or safety margin, refers to the difference between actual sales and break-even sales

5 0
2 years ago
Stefanie opens a checking account at her neighborhood bank and writes a check on her account. The legal relationship between Ste
Bingel [31]

Answer:

c. An agency relationship

Explanation:

An agency relationship is a mutual relationship, in which one person (i.e the principle ) gives a permission to an agent so as to act on their behalf.

In this relationship the agent must consent to the instructions of the person i.e the principle.

Here in the question, Stefanie acting as Principal who has directed the agent (which is the bank in the given case ) to execute a task.

3 0
3 years ago
Asa works as an order-taker at Simply Salads, a fast-food restaurant. He does not cook food, or even package the final order, bu
Softa [21]

Answer:

Hierarchical organizational structure

Explanation:

Hierarchical organizational structure is the type of organization structure where the level of management are divided according to function and services they are performing.

though, the level of management is divided into top level management (the planning executives: boards of member, executives, shareholders), middle (determined how the plan and organization goal will be implemented: managers) and lower level (implement the plan: the supervisor, foreman or shift manager), then will have the workers.

this management system involves decision and authority being transfer from level to level.

in the case: Asa is in the worker level, while her shift manager is in the lower level and general manager is in the middle level.

6 0
3 years ago
he Acmeville Metropolitan Bus Service currently charges $0.99 for an all-day ticket, and has an average of 433 riders a day. The
DedPeter [7]

Answer:

2.77

the bus company should  decrease price to increase revenues.

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.

percentage change in price = 1.21 / 0.99 - 1 = 0.222 = 22%

Percentage change in quantity demanded = 169 / 433 = -0.6097 = - 60.97%

Elasticity of demand = 60.97% /  22% = 2.77

Demand is elastic, so if price in reduced, there would be a rise in quantity demanded that would exceed the rise in price. This would increase revenues

3 0
3 years ago
Why do​ long-run elasticities of demand differ from​ short-run elasticities? ​Long-run elasticities of demand differ from​ short
Ne4ueva [31]

Answer:

The correct answer is option D.

Explanation:

Long-run elasticities of demand differ from short-run elasticity. In the short period is more inelastic. This is because people take time to adjust their consumption habits. So if the time period people have to adjust to the price change is long, then the demand will be elastic.  

Durable goods can be used for a relatively long time. So they will have a less elastic demand.

3 0
3 years ago
Read 2 more answers
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