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Gelneren [198K]
3 years ago
14

Sort the following statements based on whether demand is relatively elastic or relatively inelastic. There are four pairs of sta

tements, each pair relating to a different determinant of demand elasticity.
SAT
1 answer:
ladessa [460]3 years ago
6 0

The matching of the demand as relatively elastic or relatively inelastic can be done as;

  • Klaus' demand for orange juice (Relatively elastic)
  • Amanda's annual demand for coffee(Relatively elastic)
  • Jackson's demand for mystery novels(Relatively inelastic)
  • Hermy's demand for Minute Maid orange juice(Relatively inelastic)
  • Olivia's daily demand for Starbucks latte(Relatively inelastic)
  • Stephen spends a very little part of his income on soda(Relatively elastic)
  • Xavier's demand for his economics textbook(Relatively inelastic)

<h3>What is Elasticity of demand?</h3>

Elasticity of demand  can be regarded as the variation on the concept of demand.

It should be noted that elastic demand involves change in quantity demanded as a result of  change in price.

Learn more about Elasticity of demand

brainly.com/question/26576823

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Based on the given information, determine which company has a lower minimum and find the minimum value. g(x) at (10, 855) f(x) a
Gekata [30.6K]

The minimum production cost of company 2 is greater than the minimum production cost of company 1. We arrived at this value by comparing the production cost of both companies.

<h3>What is meant by minimum production cost?</h3>

The overall cost incurred by a company to manufacture a product or provide services is known as the cost of production.

The objective of every company is to keep this cost at minimum, hence the minimum production cost.

<h3>How do find minimum Production Cost?</h3>

Recall that the production function is given as:

f(x) = 0.25x² - 8x + 600

Inserting the values given by the schedule we have

  1. f(6) = 0.25(6²) - 8(6) + 600 = 561
  2. f(8) = 0.25(8²) - 8(8) + 600 = 552
  3. f(10) = 0.25(10²) - 8(10) + 600 = 545
  4. f(12) = 0.25(12²) - 8(12) + 600 = 540
  5. f(14) = 0.25(14²) - 8(14) + 600 = 537

For company 2, we are given the various production costs as;

x   - g(x)

6  - 862.2

8  - 856.8

10 -  855

12 -  856.8

14 - 862.2

Juxtaposing the above, we can infer that the minimum production cost of company 2 is greater than the minimum production cost of company 1.

Learn more about minimum production cost at:
brainly.com/question/9871118
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7 0
2 years ago
Please help! Question and answers are on the image
Maslowich

Answer:

the third one............

Explanation:

c) the third one

7 0
3 years ago
Jul hello it's me brax
antiseptic1488 [7]

Answer:

Hello brax

Explanation:

7 0
3 years ago
if alicia wants to consider making a change to her course schedule after meeting with her boss, what should she do?
saul85 [17]
She should first notify her boss about her new schedule. Then if he approves, she should consider what to make her new schedule. This way her boss can now when she will be coming to work.
5 0
3 years ago
What Social Problems Affect Today's Students?
vesna_86 [32]

Explanation:

Such problems, including homelessness, teen parenting, substance abuse,, complicate students' efforts to learn. Other social problems, such as vandalism, school violence, and the dropout rate, are exacerbated when students feel alienated from the school structure.

6 0
3 years ago
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