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tino4ka555 [31]
3 years ago
7

Suppose the price of gasoline rises. As time passes, people adjust to the higher price, and the demand for gasoline becomes:

Business
1 answer:
lesya [120]3 years ago
3 0

As time passes, people adjust to the higher price, and the demand for gasoline becomes less elastic.

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

Price elasticity of demand measures how the quantity demanded of a good changes when price changes. Demand is elastic when quantity demanded changes more than the change in price. Demand is less elastic when quantity demanded changes less than the change in price. With the passage of time, demand becomes less elastic.

To learn more about price elasticity of demand, please check: brainly.com/question/18850846

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A $70 price tag on a sweater in a department store window is an example of money functioning as a
Semmy [17]

Answer: Is an example of money functioning as a UNIT OF ACCOUNT.

Explanation: Money is defined as an item of value between two or more parties used for the exchange of goods or services. It's various functions are; store of value, a unit of account, a medium of exchange.

Money as a unit of account is a measurement of value/cost of goods, services, or assets.

5 0
4 years ago
Which best explains what a credit score represents? A) A number expressing your yearly income. B) A numerical rating that shows
Juli2301 [7.4K]
<span>D) A numerical rating that expresses how likely you are to repay your debts.</span>
3 0
3 years ago
The required resources for implementing a cost leadership strategy include which of the following? Multiple Choice Substantial c
Alchen [17]

Answer:

Available options are:

A) Substantial capital investment and access to capital

B) Strong marketing capability

C) Reputation for high ethical standards.

D) Effective product engineering and innovative design

Answer: A) Substantial capital investment and access to capital

Explanation:

In business strategy, COST LEADERSHIP is establishing a competitive advantage by having the lowest cost of operation in the industry. Cost leadership is often driven by company efficiency, size, scale, scope and cumulative experience (learning curve). ... If so, that company would have a higher than average profitability.

A cost leadership strategy is a company’s plan to become a cost leader in its category or market.

Substantial capital investment and access to capital is a very reliable resources for implementing a cost leadership strategy.

3 0
3 years ago
Initially, three firms A, B, and C share the market for a certain commodity. Firm A has 30% of the market, Firm B has 45%, and C
AlexFokin [52]

Answer:

Please see attachment .

Explanation:

Please see attachment .

6 0
3 years ago
Investment X offers to pay you $7,100 per year for 9 years, whereas Investment Y offers to pay you $9,700 per year for 5 years.
Dmitry_Shevchenko [17]

Answer:

a.

NPV X 44352,90

NPV Y 38729,29

b.

NPV X 28619,86

NPV Y 29008,94

Explanation:

To get the present value of each cash flow we use excel or spreadsheets.

File is attached with the comparison of both investments.

<u>Investment X </u>

Net Present Value (NPV) 44353   (Interest rate 8%)

Net Present Value (NPV) 28620 (Interest rate 20%)

<u>Investment Y </u>

Net Present Value (NPV) 38729 (Interest rate 8%)

Net Present Value (NPV) 29009 (Interest rate 20%)

4 0
3 years ago
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