When the price of fresh fish increases 5%, quantity demanded decreases 10%. The price elasticity of demand for fresh fish is.

SAT

1 answer:

vlada-n [284]1 year ago

5 0

If the price increases 5% and the quantity demanded decreases 10% the product is inelastic.

<h3>What is price elasticity?</h3>

Price elasticity occurs if the demand for a product varies when the product increases/decreases its price.

<h3>How is price elasticity in the product described?</h3>

A product is classified as inelastic if the demand does not change or only changes slightly when there is a change in the price.

This occurs with fish because 5% is a very low percentage and this shows the demand is not changing because the price increased.

Learn more about price in: brainly.com/question/18117910

You might be interested in

what does On May 17, 1954, Chief Justice Earl Warren issued the Supreme Court’s unanimous decision in Brown v. Board of Educatio

S_A_V [24]

Answer:

<h3>Plessy v. Ferguson case.</h3>

Explanation:

The Plessy v. Ferguson case of 1896 ruled out that segregation was constitutional as long as both blacks and whites enjoyed opportunities that were separate but equal.

However, the Supreme Court's verdict in the Plessy v. Ferguson case of 1896 was challenged by Justice Earl Warren stating that the idea of ‘separate but equal’ in public school was unconstitutional and inherently unequal.

Thus, Chief Justice Earl Warren issued the Supreme Court’s unanimous decision in Brown v. Board of Education, ruling that racial segregation in public schools violated the "Equal Protection Clause” of the 14th Amendment.

4 0

3 years ago

Distilled water has a hydronium ion concentration of.

Kryger [21]

1×10-7 moles per liter, good luck

5 0

1 year ago

Timelines show a. The order of events c. Why an event may have taken place b. An event’s place in history d. All of these Please

kondor19780726 [428]

Answer:

d. All of these

Explanation:

A timeline can be defined as a graphical representation of a series of important events in order in which they have occurred i.e in a chronological or sequential order. Thus, a timeline shows the order of events from top to bottom or left to right, starting with the earliest and moving forward to the most recent (latest).

Generally, a timeline is typically considered to be a cause and effect graphic organizer due to the fact that it illustrates events in a chronological or sequential order, their place in history, and how these events are interrelated or led to another.

This ultimately implies that, timelines show;

a. The order of events.

b. An event’s place in history.

c. Why an event may have taken place.

<em>For example, a timeline can be used to show the order in which the various battles fought during the American Revolutionary War occurred. </em>

3 0

2 years ago

Read 2 more answers

In which of the following stages of the consumer decision-making process does the consumer become aware of a gap between their e

Shalnov [3]

Problem recognition is the process the consumer becomes aware of a gap between their existing situation and the desired or ideal situation. This is further explained below.

<h3>What is Problem recognition?</h3>

Generally, Problem identification is the first step of the business buying process, and it occurs when someone within the firm identifies a problem or a need that can be addressed by purchasing a product or a service. This stage may also be referred to as "need recognition."

In conclusion, The process by which a customer becomes aware of a gap between their current position and the scenario that they want or consider to be ideal is known as problem recognition.