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2 years ago

If the absolute value of the own price elasticity of demand is greater than 1, then demand is said to be:

Business

1 answer:

OLEGan [10]2 years ago

8 0

Answer:

A. elastic.

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Demand is elastic when a change in price leads to a change in quantity demanded. The coefficient of elasticity for elastic demand is usually greater than one.

Demand is inelastic when a change in price has no effect on quantity demanded.

The absolute value of the coefficient of elasticity for inelastic demand is usually less than 1.

Demand is unitary when a change in price leads to an equal proportional change in quantity demanded.

The absolute value of the coefficient of elasticity for unitary demand is usually equal to one .

I hope my answer helps you.

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kaheart [24]

If Ray earns $900 a week and deductions are 28% Ray's take home pay is:
$648 a week

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2 years ago

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d1i1m1o1n [39]

Answer:

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Explanation:

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Which of the following is an unintended consequence of the rise of the primary and caucus system? Question 3 options:

Andre45 [30]

Answer:

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Explanation:

Under the primary system there is voting on the ballots which is secret in nature and under the caucus system people vote after listening to the individual nominees and then accordingly to the candidate they like.

In this manner, the candidates who are not even belonging to some recognized or popular parties are in leadership as their individual speech is too alluring to the people present for voting that they vote for that specific candidate.

Thus, the correct answer is:

Statement a.

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2 years ago

EcoMart establishes a $1,050 petty cash fund on May 2. On May 30, the fund shows $312 in cash along with receipts for the follow

mihalych1998 [28]

Answer:

See the explanation below:

Explanation:

(1) May 2 entry to establish the fund

Details Dr ($) Cr ($)

Petty cash account 1,050

Cash 1,050

To record the establishment of petty cash fund

(2) May 30 entry to reimburse the fund

Details Dr ($) Cr ($)

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Postage expenses 369

Miscellaneous expenses 240

Shortage of fund 9

Petty cash account 738

To record petty cash transactions during May

Petty cash account 738

Cash 738

To record the reimbursement of the petty cash fund.

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Details Dr ($) Cr ($)

Petty cash account 150

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2 years ago

In the graph, what might explain the movement of the demand curve from D1 to D3?

sashaice [31]

Answer:

The answer is D

Explanation:

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2 years ago

Read 2 more answers