If the quantity of a good supplied is highly sensitive to the price of the good, economists say the supply of the good is relatively
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If the quantity of a good supplied is highly sensitive to the price of the good, economists say the supply of the good is relatively elastic.
Elasticity of supply measures the responsiveness of the quantity supplied of a good or service to changes in its price. When the supply of a good is relatively elastic, it means that even a small change in price leads to a proportionately larger change in the quantity supplied.
In the context of a highly elastic supply, if the price of the good increases, suppliers can quickly and substantially increase the quantity they are willing and able to produce and offer for sale. Conversely, if the price decreases, suppliers are likely to reduce the quantity supplied significantly.
The concept of supply elasticity is important in understanding market dynamics and pricing behavior. When supply is elastic, it suggests that suppliers have flexibility in adjusting their production levels to changes in price. This elasticity enables markets to adjust more efficiently to changes in demand or other factors affecting price.
On the other hand, when the supply of a good is relatively inelastic, it means that suppliers are less responsive to changes in price, and the quantity supplied does not vary much in response to price changes.
Understanding the elasticity of supply helps economists and policymakers analyze the potential effects of price changes, tax policies, subsidies, or other factors that may impact the supply side of the market.
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Related Questions
Which graph represents the ownership of community hospitals? A pie graph shows three types of ownership. In order from greatest amount to smallest amount, the types are Profit, Non-Profit, Government. A pie graph shows three types of ownership. In order from greatest amount to smallest amount, the types are Non-Profit, Government, Profit. A pie graph shows three types of ownership. In order from greatest amount to smallest amount, the types are Profit, Government, Non-Profit. A pie graph shows three types of ownership. In order from greatest amount to smallest amount, the types are Government, Non-Profit, Profit.
Answers
Answer:
B
Explanation:
The ownership of community hospitals represented by the graph i.e. A pie graph shows three types of ownership. In order from the greatest amount to the smallest amount, the types are Non-Profit, Government, Profit.
What is a pie graph?A pie graph (or pie chart) is a specialized graph used in statistics. The independent variable is plotted around a circle in either a clockwise direction or a counterclockwise direction.
The dependent variable (usually a percentage) is rendered as an arc whose measure is proportional to the magnitude of the quantity.
Thus, option B is true, as a pie graph shows three types of ownership. In order from the greatest amount to the smallest amount, the types are Non-Profit, Government, Profit.
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Sports and entertainment products are non-perishable.
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ax Weber believed that bureaucracy prevents a firm from achieving a competitive advantage because it is inefficient and is plagued with management problems. Group startsTrue or False
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The given statement that ax Weber believed that bureaucracy prevents a firm from achieving a competitive advantage because it is inefficient and is plagued with management problems is true.
Bureaucracy Bureaucracy is a type of organizational structure that is characterized by fixed and formal rules and procedures, hierarchical authority, and specialized roles for employees. It is a method of organization in which people, machines, and materials are coordinated to accomplish a specific objective efficiently. Max Weber, a German sociologist, developed the concept of bureaucracy in the early twentieth century.
He argued that bureaucracy is the most efficient and rational way to organize human activity. However, Weber also acknowledged that bureaucracy has several disadvantages that can prevent an organization from achieving a competitive advantage.
InefficiencyWeber claimed that bureaucracy is inefficient because it is rule-bound and lacks flexibility. Employees must adhere to strict procedures, which can cause delays and inefficiencies. Bureaucratic structures can also stifle creativity and innovation because they are resistant to change.
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Why are employment and age certificates typically required?.
Answers
Answer:
They protect employers from hiring someone that is too young.They indicate the minor has the proper training to work.They guarantee the minor will be hired.
Explanation:
hope this helps
The balance on a credit card, that charges a 20%
APR interest rate, over a 1 month period is given in
the following table:
Days 1-5: $200 (initial balance)
Days 6-20: $350 ($150 purchase)
Days 21-30: $150 ($200 payment)
What is the finance charge, on the average daily
balance, for this card over this 1 month period?
finance charge = $ [?]
Round to the nearest hundredth.
Enter
Answers
The balance on a credit card, that charges a 20% APR interest rate, the Finance charge is given as
$4.3055
This is further explained below.
What is the APR interest rate?Generally, The interest rate that is applied to a loan, mortgage loan, credit card, etc. is referred to as an annual percentage rate of charge, which sometimes corresponds to a nominal APR and sometimes corresponds to an effective APR.
The annual percentage rate of charge is the interest rate for the entire year, as opposed to just a monthly fee or rate. It is a fee for financing that is presented in the form of an annual rate.
Interest rate APR = 12%
Average balance = ((200*5)+(350*15)+(150*10))/30
Average balance = $258.33
Average balance*APR/12
Finance charge =\(\frac{258.33*20 \%}{12 }\)
Finance charge = $4.3055
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How long had it been since boats were the only way on & off manahattan
Answers
Answer:
The previous day, Monday, September 10, 2001, had been a long night for the New York charter boat captain
Explanation:
Freitas was about to take part in what has become known as the 9/11 boat lift—the largest water evacuation in history and one of the uplifiting, if lesser-known, episodes of that terrible day when terrorists flew two passenger jets into the iconic Twin Towers—part of a multipronged attack on America A makeshift armada of about 150 commercial vessels of various types—tugboats, ferries, charter boats—would transport an estimated 500,000 people out of the disaster zone of lower Manhattan to safety in New Jersey and Brooklyn.
Plant assets are recorded at cost, which includes all expenditures necessary to get the asset in place and ready for use. All of the following would be included as part of the cost of a plant asset except:
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Plant assets are recorded at price, which includes all expenses necessary to get the asset in place and ready for use. All of the observing would be included as part of the cost of a plant asset Shipping charges, Testing, Assembling.
Plant assetsPlant assets are long-term specified assets that are used to make or sell products and services for a firm. These assets are tangible and projected to be monetarily advantageous to a business for more than one year.
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as a general rule which type of regulatory body certifies the operations of the whole organization
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As a general rule, the type of regulatory body that certifies the operations of the whole organization is an Accrediting Body. These bodies evaluate and certify that an organization meets specific standards and requirements set by industry regulations or government authorities.
Accrediting bodies are independent organizations responsible for evaluating and certifying the quality, standards, and compliance of an entire organization or institution.
These bodies typically operate in specific industries or sectors, such as education, healthcare, or professional services. They assess various aspects of an organization's operations, including governance, management, processes, policies, and outcomes. Their evaluation is based on established criteria and standards specific to the industry or sector.
Accreditation provides an official recognition that an organization meets the required standards and is operating in accordance with best practices. It demonstrates to stakeholders, such as customers, clients, regulators, and the public, that the organization has undergone a rigorous evaluation and has met the necessary requirements.
The accreditation process often involves a comprehensive assessment, site visits, documentation review, interviews, and ongoing monitoring to ensure continued compliance. Accreditation is typically voluntary but can be mandatory in certain industries or for specific certifications.
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In a period of steep increases in interest rates, which issuer is most likely to be negatively affected
Answers
Answer:
the answer to yout question is utility companys
Explanation:
Which statement best illustrates an example of economic specialization?
O A. A country attempts to become self-sufficient by producing all the
cars it needs on its own.
O B. A country promotes businesses that create many different
products despite high opportunity costs.
O C. A country focuses on growing a specific type of crop for export
instead of a wide variety of crops.
O D. A country reduces its division of labor by encouraging all workers
to develop many different skills.
Answers
Answer:
C. A country focuses on growing a specific type of crop for export
instead of a wide variety of crops.
Explanation:
They specialize in growing one thing instead of growing all of the crops.
The statement best illustrates an example of economic specialization A country focuses on growing a specific type of crop for export instead of a wide variety of crops. Thus the correct option is C.
What is Export?When a country sends goods to other countries with the objective of selling and receiving funds in exchange is refer as exports. When any country exports more goods the economy will become stronger.
Economic specialization indicates any expertise in any specific field which helps to produce unique things or unique business operations to achive a better flow of funds in the economy.
As exports help in improving the economy due to the inflow of cash so when a country focuses on growing a specific type of crop for export instead of a wide variety of crops reflects the economic specialization of a country which helps them in achieving success.
Therefore, option C is appropriate.
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Perit Industries has $165,000 to invest. The company is trying to decide between two alternative uses of the funds. The alternatives are:
Answers
The net present value of project A that Perit Industies plans to undertake is $-79,009.91.
What is the net present value?
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Cash flow in year 0 = -165,000Cash flow in year 1 - 6 = 21,00Cash flow in year 6 = 9500I = 14%
NPV = $-79,009.91.
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1. You are shy and not confident of your abilities to contribute to the group project. You're not good with
writing, can't come up with ideas, and are scared to present. As a result, you have contributed very little to the assignment thus far and are reluctant to volunteer yourself for tasks.
Answers
First, it is important to remember that everyone has something valuable to contribute to a group project, and that contribution can take many forms.
What is a group project.?Generally, Even if you don't feel confident in your writing or presentation skills, there are still ways to make your mark.
You could offer to do research on the topic, help organize the project and break down tasks, or take on tasks that don't require writing or presenting, such as developing a budget or timeline. You could also suggest ideas or ask questions during group meetings.
Finally, if you are feeling overwhelmed, reach out to your group members and talk openly about how you're feeling. They may be able to provide reassurance and help you come up with ideas.
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an employee can be dismissed if their job surplus to requirements' outline why this state ment is false
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Which ancient civilization revered the tax professional as the most noble man in society? A. Greece B. Rome C. Egypt D. Incas
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The ancient civilization that revered the tax professional as the most noble man in society is C. Egypt.
What is Egypt?Egypt is a country situated in the north-eastern region of Africa. Its capital is Cairo, and it shares borders with Sudan to the south, Libya to the west, the Mediterranean Sea to the north, and the Red Sea to the east. Cairo, the capital of Egypt, is the largest city in Africa and the Middle East.
Furthermore, Egypt has one of the longest histories of any modern country, having been continuously inhabited for over 5000 years. Some of the world's most stunning ancient monuments, such as the Great Sphinx and the pyramids of Giza, can be found in Egypt.
In ancient Egypt, tax collectors were highly respected and considered an essential part of maintaining the stability of the society.
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With relevant examples discuss intangible business property that is protected by law and which an entrepreneur should consider when starting up a business
Answers
Answer:
Explanation:
Intangible property are useful resources, they are asset that are not physical but they produce much economic benefits to organization , entrepreneur.some of this asset are Goodwill, brand recognition, as well as intellectual property.
Some of these intangible asset are intellectual property and are protected by law from stealing away by those that are not authorized to it.
Examples of intangible business property that is protected by law are:
✓patent
✓copyright
✓ franchises
✓trade mark
✓Goodwill
✓tradenames
✓ trade secret
1)Patent is one of the intangible asset granted by government and protected to an inventor who is entrepreneur that exclude others from selling as well as using the invention for particular period of time. If an entrepreneur comes up with an invention it will be protected for him/ her. it can be categorized as utility, design, and plant. Example of invention that falls under utility is microwave oven. Other invention are light bulb, printing press.
2) copyright is another intangible property, in which the original works of authorship of an entrepreneur is protected, dramatic, musical work as well as computer software, and architecture of an entrepreneur is protected, this will help the entrepreneur to enjoy the benefits of his/her labor and to grow fast in term of finance.
3)trademark is another intangible property that is protected by law which includes design, expresion, sign that identifies the product of a company from another, when an entrepreneur is starting a business , trademark is important because his/her product will be easier to identify by consumer and this helps business to grow faster. Example is the logo that Apple( apple shape with a bite) uses as trademark on all their products, swoosh logo that Nike uses on their products
4)trade secrets is an intangible property as well as intellectual property that is been protected by law it contains processes, design, information with inherent economic values that are not generally known by everyone, this is important to enterprenurer because trade secret helps the individual with the secret to sustain his/her business without been hijacked. Example of trade secret is the
secret formula for Coca-Cola which other soft drinks producer doesn't know.
explain advertisement
Answers
Answer: Advertisement is a marketing communication. It is used to promote businesses and their products. Used to promote more effectiveness in a businesses profit and their sales. May be seen in the form of commercials or billboard announcements in everyday life.
the globalization of _____ is the term used to describe the merging of national markets into one large global place.
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The globalization of market is used to describe the merging of national markets into large global place.
What exactly is meant by market globalization?Globalization has increased the interdependence of markets. the globalisation of economies; the increasing frequency of cross-border sourcing, manufacturing, trading, and investment activities
Manufacturing costs are typically reduced by globalisation. Because of this, companies can sell their goods to customers for less money. The cost of goods on average plays a significant role in rising standards of living. Customers can choose from a wider variety of goods as well.
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Sales tax in your community is 7.5%. If you go to Becks and buy a polar pop for $0.99, slice of pizza for $2.25, and chips for $0.75, what amount will you pay once the sales tax is added to your purchase?
Answers
Answer:
$4.29
Explanation:
Sales tax is a type of consumption tax. It is levied by the government or an agency of the government on the sales. Taxes increase the prices of goods and services
Total amount paid = total price of items purchased + tax amount
total price of items purchased = $0.99 + $2.25 + $0.75 = $3.99
Tax amount = 0.075 x $3.99 = $0.299
Total amount paid = $4.29
When you finish your budget, you should have:
A: money left over
B: more bills to pay
c: a zero balance
D: All of the choices
Answers
Answer:
Zero balance
Explanation:
Because you finished all your money.
The federal reserve can affect you through
Answers
As the Federal Reserve conducts monetary policy, it influences employment and inflation primarily through using its policy tools to influence the availability and cost of credit in the economy.
Someone you look up to? And why?
Answers
Answer:
I look up to elon musk. I feel like he's going to do the impossible and excited to what he will do next!
Answer: Oprah Winfrey
Explanation: She's inspiring and makes me wanna do good things in life
refer to table 13-1. what is total output when 4 workers are hired? Number of Workers Total Output Marginal Product0 0 1 302 403 504 405 30
Answers
Referring to table, based on the marginal product, the total output when 4 workers are hired is 185.
The given tables state that:
Number of Workers Marginal Product Total Output
0 N/A 0
1 30 30
2 45 75
3 60 135
4 50 185
5 40 225
Total output can be determined as the sum of the values of final goods and services produced and as the sum of values added at each stage of production. Marginal product refers to the additional output which is produced as a result of employing an additional unit of the variable factor input.
Based on the table, the total output when 4 workers are hired is 185. This can be found by adding the marginal product of each worker together. The marginal product of the first worker is 30, the second worker is 45, the third worker is 60, and the fourth worker is 50. Adding these together gives us a total output of 185.
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According to exodus 31:15 in whose honour we spend the Sunday?
Answers
Answer:
God
Explanation:
On sunday is sabbath of complete rest, it is something holy to God
In the accounting equation, assets are equal to which two things?
A. Debits + equity
B. Debits + accounts
C. Liabilities + equity
D. Liabilities + accounts
Please select the best answer from the choices provided
A
B.
OOOO
С
D
Answers
Answer:
C. Liabilities + equity
Explanation:
Edg 2021 ...
The market demand curve is ______ and the demand curve facing a perfectly competitive firm is ______
Answers
The market demand curve is downward sloping and the demand curve facing a perfectly competitive firm is Perfectly Elastic.
Perfect Competition:
Perfect competition is a market type where there are many buyers and sellers who deal with inhomogeneous products. As a result, no individual unit is able to influence the price of the product, and the firms must quote the price that is currently in effect in the market because the customers are aware of the price.
As competing firms pressure them to accept the market's current equilibrium price, a perfectly competitive firm is referred to as a price taker. The demand curve of a firm that is perfectly competitive is horizontal at the market price. As a result, every unit sold will result in it receiving the same price.
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is 1 a prime number
tell me pls im to dumm
Answers
Answer:
No
Explanation:
All prime numbers most be more then 1.
Caitlyn wrote the following sentences:
Angelo is my big, fat cat. He became big and fat when we fed him the wrong food. The veterinarian said he was too big and fat and needed an exercise program.
Why does Caitlyn need a thesaurus?
a.
The sentences repeat the same words
c.
The words used lack creativity
b.
The sentences all begin with the same word
d.
None of these
Please select the best answer from the choices provided
A
B
C
D
Answers
Answer: The sentences repeat the same wordds
the process by which companies get new customers, keep the customers they already have, and grow the business by increasing their share of customers' purchases is referred to as multiple choice relationship marketing. lifetime value marketing. customer segmentation analysis. share of customer. customer relationship management.
Answers
The process by which companies get new customers, keep the customers they already have, and grow the business by increasing their share of customers' purchases is referred to as Customer Relationship Management (CRM).
Customer Relationship Management, or CRM, is a comprehensive approach that businesses use to manage and analyze customer interactions and data throughout the customer lifecycle. The goal is to improve customer service, retain customers, and drive sales growth. CRM involves using various strategies and technologies to compile customer information and analyze customer behavior, enabling companies to personalize and enhance customer interactions. This approach allows businesses to understand their customers' needs and preferences better, ultimately leading to stronger and longer-lasting customer relationships. Some examples of CRM strategies include email marketing, loyalty programs, and personalized offers. By focusing on CRM, companies can target and retain their most valuable customers and increase their share of customer purchases.
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15 points In a paragraph of 125 words, explain the importance of market research, being sure to include the four basic steps and the two ways to gather information.
Answers
Answer: Marketing research can give a business a picture of what kinds of new products and services may bring a profit. For products and services already available, marketing research can tell companies whether they are meeting their customers' needs. By researching the answers to specific questions, small-business owners can learn whether they need to change their package design or tweak their delivery methods--and even whether they should consider offering additional services.
Collecting primary research can include:
Interviews (either by telephone or face-to-face)
Surveys (online or by mail)
Questionnaires (online or by mail)
Focus groups gathering a sampling of potential clients or customers and getting their direct feedback
Two ways to gather this information would be asking questions and gathering data from trusted sites or books.
Explanation:
Market research is crucial for businesses to make informed decisions, create products and services that meet the needs of their customers, and stay ahead of the competition. It helps to reduce business risk, improve marketing strategies, and stay up-to-date with the latest market trends.
What is the scope of marketing research?The areas or components that are examined within marketing research are referred to as their scope. To put it another way, it suggests the domains or contexts in which marketing research can be used. Marketing research actually has an impact on practically every aspect of marketing management.
Market research is the process of gathering and analyzing information about the target market for a product or service. It is a crucial step in the business decision-making process as it helps companies to understand the needs, preferences, and behavior of their target audience.
Market research helps companies identify the needs and preferences of their target audience. This helps companies to create products and services that meet the needs of their customers, leading to increased sales and customer satisfaction.
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true or false,according to mr. cochran, there is a strong, significant positive relationship between diversity and corporate innovation.
Answers
True. According to mr. cochran, there is a strong, significant positive relationship between diversity and corporate innovation.
How does diversity create innovation?Diversity is an important driver of innovation because it allows teams to draw on a wide range of perspectives and experiences. When people from different backgrounds and cultures collaborate, they each bring their own set of ideas and approaches to problem solving. This diversity of thought can spark creativity and lead to breakthroughs that would not be possible in a homogeneous team. A diverse team is also more capable of identifying and meeting the needs of a diverse customer base, that can lead to new market opportunities and increased revenue. Furthermore, diverse teams are more adaptable and resilient because they can navigate complex challenges and respond to changing circumstances better. By promoting diversity and inclusion, organisations can foster a culture of innovation and unlock the full potential of their teams.
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