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
Elanso [62]
3 years ago
10

Choose three goods. Then predict whether they have elastic or inelastic demand at their current price. Next, determine their ela

sticity by creating a demand schedule and curve for each one

History
1 answer:
gladu [14]3 years ago
7 0

The price elasticity of a demand function measures the reaction of the quantity demanded by consumers after the price modification of a product. According to the law of demand, for normal goods, when the price of the product increases, the quantity demanded decreases, therefore there is an inverse relationship between price and quantity. Elasticity helps to assess the proportion of the modifications in the two variables.

<u>Let's analyse the following three goods:</u>

  1. Gasoline, is a good with an inelastic type of demand curve. When there is a change in the price of gasoline, the quantity demanded by consumers decreases in a lower proportion than the price increase. There are no easily available susbtitutes that consumers could purchase instead of gasoline to cover the same need. <em>The shape of this type of demand curve is represented by the first graph attached.</em>
  2. Cola, is a product with an elastic demand curve. When the price of a certain type/brand of cola drink increases its price, the quantity demanded of that product decreases in a larger proportion than the price increases. Consumers can easily switch and buy from a different cola brand or select a different type of soda drink to satisfy the same need. <em>The shape of this type of demand curve is represented by the second graph attached.</em>
  3. Two vending machines located next to each other provide an example of a perfectly elastic demand curve. If the price of one of the two vending machines increases for the same product, its quantity demanded would be reduced to 0, as all consumers will switch to the other machine which is located only a few centimetres away. <em>The shape of this type of demand curve is represented by the third graph attached.</em>

You might be interested in
Which phrases tell causes of suffering for blacks in northern cities after World War II?
Usimov [2.4K]

Answer:

the answer is definitely D

Explanation:

because they had sepated schools

5 0
3 years ago
Read 2 more answers
Why must a woman have permission and an escort to attend the Hajj?
iris [78.8K]

The correct answer to this open question is the following.

Although there are no options attached, we can say the following.

A woman must have permission and an escort to attend the Hajj because that is what the Muslim religion stated in its religious principles. Muslim law establishes that any woman below 45 years old that wants to make the trip to Mecca to participate in Hajj, must be accompanied by a male chaperon that is going to serve as a guardian. Otherwise, women can't attend this Muslim tradition. Women who are older than 45 can make a trip in groups, but they need a notarized letter authorized by the husband or son.

That is how strict Muslim law is to women.

8 0
2 years ago
Read 2 more answers
Which phrase best describes sacagawea?​
Romashka [77]

Answer is c c c c c c c

7 0
2 years ago
How did the United States respond to Iraqi aggression?
Sophie [7]

Answer:

Iraq invaded Kuwait on August 2, 1990. In response to this aggression, the United States, along with a coalition of allied countries, started the Gulf War against Saddam Hussein's regime.

Explanation:

The Gulf War began when Iraq under Saddam Hussein captured neighboring Kuwait to secure oil supplies in August 1990. This meant that the UN intervened and that the United States, with President George H.W. Bush at the helm, with military force, defeated the Iraqi forces after a lengthy and preliminary bombing campaign from the air, which began on January 17, 1991. The American losses were historically few for a land war, while the Iraqi ones were significant.

3 0
3 years ago
In 1901, many men and even women considered Anthony and her followers aggressive,
rodikova [14]

The reason these men and even women held these opinions was that Susan and her followers were fighting for the equality and suffrage of women all over the world.

<h3>What was Susan B. Anthony's fight?</h3>

Susan was involved in the fight to end the inequality that existed in society between men and women.

She was fighting to ensure that men and women were paid the same for the same jobs that they did.

She was an advocate for abolition. At a time when some women felt that men should be the leaders in all things, she stood her ground to ensure that women had the right to vote, right to equal pay, and equal chances to work.

Read more on Susan B. Anthony here: brainly.com/question/14130938

#SPJ1

4 0
2 years ago
Other questions:
  • Help me with this question
    14·1 answer
  • How did the strong economy that emerged during the Reagan years affect social change in the 1980s??
    8·2 answers
  • How did the Mission-Presidios adapt to the Texas environment in which they were established?
    6·1 answer
  • How did Golda Meir contribute to the development of an independent Israel?
    6·2 answers
  • Explain the consequences of the slave trade on both africa and the americas
    14·1 answer
  • Define secret society​
    11·2 answers
  • The model shows the addition expression 18 + 12. A model containing 3 rows of 6 orange squares and 3 rows of 4 blue squares. One
    14·2 answers
  • Name 3 reasons why it was difficult to be a british soldier​
    8·1 answer
  • AP Analyzing
    7·1 answer
  • Strikes and inflation are economic factors we can control.<br><br> True or False
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!