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>.
Answer:
C. eat more pizza and spend less on pizza than he did before the price decrease.
Explanation:
The inelastic means that when the elasticity is less than one
Since the demand for pizza is inelastic and the price of pizza decreases that would result in an increase in the quantity demanded of pizza.
Though the price of pizza decreases, the Pablo spend less than before as the price and the quantity demanded has an inverse relationship.
The answer is Boxplot II. The standard deviation for the data associated with Boxplot II will likely have a larger standard deviation. Boxplot II has a greater spread than Boxplot I, as measured by the interquartile range, which is related directly to the standard deviation of a data set.
Answer: Option (D)
Explanation:
Redeem-ability is one of the features of the preferred stocks that tends to make this security look more like a debt than any equity instrument. Redeemable or Redeem-ability refers to the state or part at which an individual is able to recover or redeem his money or any equivalent after a given period of time.
Answer:
Yes: Middlemen represents costs
No: Middlemen could have exclusive access to customers
No: Cutting out middlemen will lead to unemployment on the long run
Explanation:
Why it is true that cutting off middlemen could reduce business costs in the sense that they (middlemen) usually buy from manufacturers and charge additional costs before selling to final users, it should also be known that sometimes these middlemen bridge the gap between supply and demand by taking the products from where they are produced to where the customers are found.
A second consideration is that cutting off middlemen will as a result create unemployment for all those middlemen that will be cut off.
