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iren2701 [21]
3 years ago
8

A customer, who needs to drive to work in a Wisconsin winter, has a critical need to use the product Ice Melt. For him as a cons

umer Ice Melt has an inelastic demand because he needs to drive to work. Which type of factor is affecting elasticity in this scenario?
Business
1 answer:
Blizzard [7]3 years ago
5 0

Answer:

Urgency / Postponement leads to customer inelastic demand of ice melt.

Explanation:

Elasticity of demand is responsive change in demand of good, due to change in price. Formula = % change in demand / % change in price

Factors Affecting Price Elasticity of Demand : Nature of commodity, Income, substitutes availability, time period, urgency / postponement, share in total expenditure,

Inelastic Demand is when demand responds proportionately less to price change. % change in demand < % change in price

Case 'Customer critically needs ice melt to drive to work' : This has inelastic demand i.e demand less respondent to price changes (he will buy that at high price too). Such because of the urgency of this demand & less scope of its postponement.

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What are ‘sweeteners’ in the context of fashion lines? A. high-priced special designs for a select few customers B. additional i
KengaRu [80]

Answer:

I would say A or D. But I'm leaning towards D - patterns created to attract young and affluent customers.

3 0
2 years ago
Read 2 more answers
In what positive and negative ways has the Internet changed the conduct and coordination of global business?
Whitepunk [10]

Answer: Positive ways; Barriers in connecting is slightly no more, Negative ways; Increase in fraud and cyber theft

Explanation:

The internet has changed the conduct and cordination of global business in many ways both positively and negatively. Considering the positive ways

Positive Ways: Barriers in connecting is slightly no more: connecting to one another has been made easy to do business recently, people in continents can carry out a transaction and a trade under minutes of interaction and get the goods and services exchanged among each other immediately.

Negative ways; Increase in fraud and cyber theft; despite the swift nature of doing business now, it has also Increased fraud as some people disguise themselves to be traders and businessmen just to collect people's money.

7 0
3 years ago
What will happen if a country increases its money supply rapidly under fixed exchange rate regime? question 34 options: 1) the c
Serjik [45]

The answer is "trade deficit would widen in that country".

A fixed exchange rate regime forces financial discipline on nations and abridges price inflation. For instance, if a nation expands its cash supply by printing more money, the expansion in cash supply would prompt price inflation. Given fixed exchange rates, inflation would make the nation's merchandise noncompetitive in world markets, while the costs of imports would turn out to be more appealing in that nation. The outcome would be an augmenting exchange shortage in the nation, with the nation bringing in more than it sends out.

8 0
3 years ago
Luke is starting to look for a job. In which two ways would letters of recommendation be beneficial for his job hunt?
Rufina [12.5K]
Hello!

The correct answers are options A and B. 

A letter of recommendation often lists a person's accomplishments and it provides details pertaining to the person's personality and character. A letter of recommendation will help employers make a decision on whether the person could be beneficial to the job/company. 

I hope this helps answer your question! Have a great day!
5 0
3 years ago
Read 2 more answers
Consider the production function
hichkok12 [17]

Answer:

<u>Requirement 1:</u> Production Output will be 61.42 Units.

<u>Requirement 2:</u> Production Output will be doubled.

<u>Requirement 3:</u> Constant Returns to Scale

Explanation:

<u>Requirement 1:</u>

The output at K=46 and N=82 is given as under:

Y = (46)^1/2  *  (82)^1/2

Y = 61.42 Units

<u>Requirement 2:</u>

Now if we double "K" and "N" then:

Y' = (2K)^1/2  *  (2N)^1/2

Y' = 2 [(K)^1/2  *  (N)^1/2]

Y' = 2Y

This means that the output will be doubled.

<u>Requirement 3:</u>

Option A. Constant Returns to Scale

Constant returns to scale occurs when the increase in the input causes same proportional increase in the production output. Such same proportional increase in the production output is referred to as Constant Returns to Scale.

In the given scenario, as the production output doubles with the doubling of input which was seen in the requirement above. We can say that the production function is characterized by Constant Returns to Scale.

6 0
3 years ago
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