For a good that is a necessity, a. quantity demanded tends to respond substantially to a change in price. b. demand tends to be inelastic. c. the law of demand does not apply.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “For a good that is a necessity, a. quantity demanded tends to respond substantially to a change in price. b. demand tends to be inelastic. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
George Scott hires Shannon Lang to sell his house, with the condition that he will not be the first one in the neighborhood to sell to members of a certain ethnic group. What should Shannon do about this condition
Answers (1)
When a periodic inventory system is used a. both revenue and cost of goods sold are recorded each time a sale is made. b. only the cost of goods sold is recorded each time a sale is made. c.
Answers (1)
Which statement regarding strategies is true? A. Strategies facilitate hierarchies. B. Strategies are simple. C. Strategies facilitate objectives. D. Strategies are complex.
Answers (1)
Teri, Doug, and Brian are partners with capital balances of $36,300, $29,300, and $56,100, respectively. They share income and losses in the ratio of 3:2:1. Revenue accounts for the period total $304,200.
Answers (1)
Explain how the increase in the supply of money affects the real and nominal interest rate
Answers (1)
New Questions in Business
Leesburg sold a machine for $2,200 on november 10th of the current year. the machine was purchased for $2,600. leesburg had taken $1,200 of depreciation deductions on the machine through the date of the sale.
Answers (1)
Which type of training would be considered vocational training?
Answers (2)
Which of the following is not a step in creating operating department income statements? eliminate the uncontrollable costs for each department. allocate indirect expenses across departments. prepare the departmental income statements.
Answers (1)
Suppose the supply equation is: Upper Q equals 12 plus 0.30 p. What is the price elasticity of supply if the market price is $16 ? nothing (round your answer to three decimal places ).
Answers (1)
This type of credit occurs when you charge a purchase at the time you buy the good or service
Answers (1)