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Ostrovityanka [42]
2 years ago
5

A mass transit authority charges bus fares of $1.25 during morning rush hours but only $1.00 during late morning non-rush hours.

Economists explain the fare difference by the fact that the demand for bus rides during the morning rush hours is __________ but during the late morning it is __________.
more elastic; more inelastic
perfectly elastic; perfectly inelastic
more inelastic; more elastic
unitarily elastic; relatively inelastic
Business
1 answer:
amm18122 years ago
7 0

Answer:

The correct answer is more inelastic; more elastic.

Explanation:

Inelastic demand is that demand that is not very sensitive to a change in price. In this way, before a variation in the price the quantity demanded reacts in a less than proportional way. For example, if the price increases by 10% and in response the quantity demanded is reduced by less than 10%, then the demand is said to be inelastic.

The elasticity of demand, also known as the elasticity-price of demand, is defined as the percentage change of the quantity demanded before a percentage change in the price.

An elastic demand is that demand that is sensitive to a change in price. In this way, a small variation in the price causes a more than proportional change in the quantity demanded. Thus, for example, if the price increases by 10% and in response the quantity demanded is reduced by more than 10%, then the demand is said to be elastic.

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In which countries do people prefer discussing business during meals?​
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Answer:

china

Explanation:

if your traveling to china on business do not discuss business during meals .

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2 years ago
Read 2 more answers
Assume that the demand for tuna in a small coastal town is given by p = 400,000 q1.5 , where q is the number of pounds of tuna t
oee [108]

Answer:

(a) p = $ per lb

p = $2.12 per lb

(b) q = lb (c)

q = $23320

Explanation:

p=750000/q^1.5=>

p'=-1125000q^(-2.5)<0 always

=>p is decreasing with the  

increasing of q. So q should take

the allowable least value=5000.

=>

(a) the charge=  750000/(5000)^1.5=  $2.12/lb

(b)The max. revenue=

q = lb (c) = 2.12(5000)=  $23320

3 0
2 years ago
Instead of trying to appeal to the entire marketplace, smart marketers and smart companies will try to find out ______.
tekilochka [14]

They will likely find out the customer’s liking and groups in which will serve best for their advantages of having to attract more consumers and to sell their products more. They will likely target this goal than to try appealing the market place because the customer will bring more advantages to the company or in field of business and market.

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2 years ago
Cakery Bakery received $1,000 from a customer on August 5, 2016 for a wedding cake to be delivered on September 19, 2016. What w
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September 19, 2020 because that is when the cake successfully delivered
4 0
2 years ago
The following data relate to product no. 89 of Mansion Corporation: Direct material standard: 3 square feet at $2.50 per square
jeka57 [31]

Answer:

$2,000 and it is favourable

Explanation:

Direct material quantity variance is defined as the efficiency with which materials are converted into products. It is calculated by multiplying standard price of material by the difference between standard quantity and actual quantity used.

Standard price (SP)= $2.50

Standard quantity (SQ)= 30,000 units

Actual quantity (AQ)= 29,200 units

Material quantity variance = SP * (SQ - AQ)

Material quantity variance= 2.50 * (30,000 - 29,200)

Material quantity variance= $2,000

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2 years ago
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