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My name is Ann [436]
2 years ago
7

For product X, the price elasticity of demand has an absolute value of 3.5. This means that quantity demanded will increase by

Business
1 answer:
cluponka [151]2 years ago
5 0

It means that quantity demanded will increase by 3.5% for every 1% decrease in price.

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

Price elasticity of demand measures the percentage change in quantity demanded when the price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes. When price increases, quantity demanded decreases by more of than the percentage change in price. When price increases, the quantity demanded declines.

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

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Alla [95]

There are different kinds of studies. According to a recent study, nearly all business professionals expect an email response within 4 hours.

<h3>Who are business professionals?</h3>

Business Professionals are known as people that are called expert or professionals in the area of business that deals on product.

The business professionals love prompt response to their emails and do not want to be kept waiting, A response within a day is what they are after.

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6 0
2 years ago
Panther Co. had a quality-assurance warranty liability of $350,000 at the beginning of 2021 and $310,000 at the end of 2021. War
Diano4ka-milaya [45]

Answer:B

Explanation: :)

7 0
2 years ago
Do you believe initiative is an important quality? Defend your answer.
Olegator [25]

Initiative is an important quality because it proves that you want to do your job or task successfully and independently. Lack of initiative shows laziness and/or low confidence in one's skills.

3 0
3 years ago
Read 2 more answers
Corporations had the important advantage of
igomit [66]
C Reducing the financial risk for individual investors
4 0
2 years ago
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Ella has an offer to buy an item with a sticker price of $12,300 by paying $420 a month for 36 months. What interest rate is Ell
pentagon [3]

Answer:

18.65%

Explanation:

Cost = $12,300

Total Payment = $420 × 36

                        = $15,120

Difference in the cost and payment = $15,120 - $12,300 = $2,820

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= 18.65%

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3 years ago
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