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Travka [436]
3 years ago
10

Explain the importance of elasticity​

Business
2 answers:
Georgia [21]3 years ago
8 0
Elasticity of demand can help us decide which prices are suitable for the products we sell. If a price is inelastic even when the price goes up, it tells the business that they can increase the price if they want however if the price is elastic, it will change drastically when prices go up. This means businesses would have to find the equilibrium price where demand and supply meets in the middle.
hope this helps x
erma4kov [3.2K]3 years ago
5 0
Elasticity is important to pricing decisions because it helps us understand whether raising prices or lowering prices will enable us to achieve our pricing objectives.
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In a paragraph, select ONE country (excluding Canada, Cuba and Sweden) and explain where it lies on the continuum of command - m
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Answer:

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To proof it, we can refer to the economic freedom ranking that was created by Heritage Foundation. From all 180 countries included in the ranking, north Korea placed at the very bottom.

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The correct answer is letter "B": Expected return.

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In the example, the expected return would be:

<em>Expected return </em><em>= (return in a good economy + return in a poor economy)/2</em>

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<em>Expected return </em><em>= </em><em>8,5%</em>

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Please see attachment

Explanation:

Please see attachment

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