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Mars2501 [29]
2 years ago
10

Which of the following statements is correct?

Business
1 answer:
Kay [80]2 years ago
4 0

Answer:

The correct answer is letter "C": The demand for bourbon whiskey is more elastic than the demand for alcoholic beverages in general.

Explanation:

Elasticity is a measure of the response of variables to a shift in a certain variable. It can explain to what degree the supply or demand for a product or service shifts with the price of the goods or the income of customers. <em>Basic staples such as milk or gasoline tend to be low in elasticity</em>. This is because to change the quantity demanded involves a meaningful change in price or customer income. <em>It's said that luxury goods like high-end vehicles and electronics have high elasticity</em>.

Thus, <em>bourbon whiskey is considered as a luxury beverage compared to other alcoholic drinks. Thus bourbon whiskey is more elastic</em>.

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Answer:

c. 0.59

Explanation:

Correlation co-efficient  refers to a statistical measure that computes the strength of a relationship between two variables. It does not have a unit like meter per second or months per pound. A correlation co-efficient of 1 means that there is a strong and positive relationship or direct relationship, while a negative correlation means an inverse relationship.

7 0
2 years ago
Bill currently uses his entire budget to purchase 5 cans of Pepsi and 3 hamburgers per week. The price of Pepsi is​ $1 per​ can,
FinnZ [79.3K]

Answer:

Option (B) is correct.

Explanation:

The utility maximization point for a consumer is as follows:

\frac{MU_x}{P_x}=\frac{MU_y}{P_y}

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price of Pepsi(x) =​ $1 per can

price of a hamburger(y) =​ $2

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Marginal utility from hamburgers = 6

Hence,

\frac{4}{1}>\frac{6}{2}

4 > 3

Therefore, it can be seen that the consumer's utility is not maximized at this point.

Law of diminishing marginal utility states that as the consumer consumes more and more quantity of goods then as a result the utility obtained from the consumption goes on diminishing.

So, there is a need to increase the quantity of Pepsi consumed and reducing the quantity of hamburgers consumed.

6 0
2 years ago
Organic foods international has decided to increase its market share by hiring a marketing rep to visit businesses in the area a
katrin2010 [14]
<span>Organic foods is using a growth strategy. A growth strategy is a strategy companies use when they want to grow their product depth, customer basis or product knowledge. There are four broad growth strategies to help a company achieve success. The four main growth strategies are </span>diversification, product development, market penetration, and market development.  
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What is the preferred method of controlling environmentally hazardous materials during manufacturing, operations, and disposal?
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Answer:

b,

Explanation:

treatment of hazardous waste is preferred to the other options, in a sense they all have side effect. But if waste are treated it reduces the rate of pollution.

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If a baker notifies you that he will not deliver the bread for your restaurant. You must try to find bread even if it costs more
IgorLugansk [536]

Answer:

true

Explanation:

i think sksssßkejjejdnd

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