You sell t-shirts in the street corner in order to support some of your tuition costs. Around the middle of the semester, your friend Carlos gives you the following advice: "if you increase the price of each t-shirt you sell you will be able to make a lot more money selling your t-shirts". For Carlos to be right, the price elasticity of t-shirts must be price:
a) constant
b) elastic
c) unitary
d) inelastic
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “You sell t-shirts in the street corner in order to support some of your tuition costs. Around the middle of the semester, your friend ...” 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
The passage is primarily concerned with (A) evaluating a method used to test a particular scientific hypothesis (B) discussing explanations for an unexpected scientific finding (C) examining the assumptions underlying a particular experiment (D)
Answers (1)
In two companies making the same product and with the same total sales and total expenses, the contribution margin ratio will be lower in the company with a higher proportion of fixed expenses in its cost structure. A. True B. False
Answers (1)
The business earns $700 of consulting revenue. How would these earnings affect the total equity of a business? a. Liabilities are decreased, so total equity is increased. b. Revenues would be decreased, so equity would be decreased. c.
Answers (2)
3. Why does the infant mortality rate relate to a country's level of development? A The rate is a predictor of the adult literacy rate. O B The rate is an indicator of nutrition and health care. The rate is high in some very industrialized countries.
Answers (2)
a period of time against which costs of the market basket in other periods will be compared in computing a price index is called
Answers (1)
New Questions in Business
Which type of workplace culture emphasizes the development of new skills? a. achievement-based b. adaptive-based c. involvement-oriented d. consistency-oriented
Answers (2)
Jones Co. started the year with no inventory. During the year, it purchased two identical inventory items at different times. The first purchase cost $1,240 and the other, $1,570. Jones sold one of the items during the year.
Answers (1)
The culture of UPS places service to the customer among the company's highest business objectives, which is reflected in their use of information systems to enable customer tracking of their packages.
Answers (1)
Employers bond employees who handle cash receipts because fidelity bonds reduce the possibility of employing dishonest individuals and Deter dishonesty by making employees aware that insurance companies may investigate and prosecute dishonest acts.
Answers (1)
1. A complaint of sexual harassment by a part-time worker in a hardware business was upheld when the Tribunal found that the employer had failed to take sufficient action in relation to the employee's report of inappropriate behaviour.
Answers (1)