When a one percent change in price causes a change in quantity demanded greater than one percent, demand for the product is
a. relatively elastic.
b. unitary elastic.
c. perfectly elastic.
d. relatively inelastic.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “When a one percent change in price causes a change in quantity demanded greater than one percent, demand for the product is a. relatively ...” 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
On april 2, jennifer elston uses her jcpenney company credit card to purchase merchandise from a jcpenney store for $1,200. on may 1, elston is billed for the $1,200 amount due. elston pays $600 on the balance due on may 3.
Answers (1)
What will be the result when managers use new forms of organizing?
Answers (1)
Which of the following is not a benefit of an international business? less expensive labor and production costs opportunities to outsource manufacturing expansion of markets cultural and ethnic differences of customers
Answers (1)
Which one of the following best describes the concept of erosion? a. The cash flows of a new product that come at the expense of a firm's existing cash flow. b. Expenses that have already been incurred and cannot be recovered. c.
Answers (1)
The nominal exchange rate is A. the difference between the interest rate in one country and the interest rate in another country. B. the price of one country's currency in terms of another's.
Answers (1)
New Questions in Business
An investor would like to invest $60,000 in two stocks from a list of six suggested by a broker. how many investments are possible if the investor wants to invest $50,000 in one stock and the rest in another
Answers (1)
Hubbard Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During January, the kennel budgeted for 2,100 tenant-days, but its actual level of activity was 2,060 tenant-days.
Answers (1)
Explain how to determine gross profit on an income statement by selecting the correct statement below. Cost of goods sold is added to net sales. Cost of goods sold is added to sales discounts. Sales is subtracted from cost of goods sold.
Answers (1)
Which of these is a disadvantage of banking with national retail banks
Answers (1)
Emily has been waiting for a promotion to a management position for almost five years. She notices that men fill most of the higher-level jobs in her company. She suspects she is not being promoted because she is female. What term describes this? A.
Answers (1)