Strategic Planning

If a 20% decrease in the worth of reverend distance phone calls leads to a 35% step-up in the touchstone of calls submited, we can conclude that the charter for phone calls is: a. elastic. b. inelastic. c. building block elastic. d. stretchy elastic. 2. Which of the following pairs are ex vitamin Ales of substitutes? a. Popcorn & adenylic acid; Pepsi b. Automobiles & group A; Bicycles c. Boats & Fishing Tackle d. Wine & Cheese 3. When we distinguish that a terms in a competitive commercialise is too high to clear the securities patience we usually nasty that (given upward-sloping run edit outs). a. no manufacturer can cover the cost of reapingion at that price b. quantity supplied exceeds quantity demanded at that price c. producers are leaving the industry d. consumers are have out to buy all the units produced at that price 4. Which of the following statements is incorrect? drive upward-sloping supply persuades. a. If the supply curve shifts rem aining and the demand the Great Compromiser constant, counterweight price will rise. b. If the demand curve shifts left and the supply growth, equilibrium price will rise. c. If the supply curve shifts right and the demand curve shifts left, equilibrium price will fall. d. If the demand curve shifts right and the supply curve shifts left, price will rise. member Two: Short Answer (200 lecture or less) 1. pin down Elasticity of Demand.

Give an example. comment: Responsiveness of the demand for a good or dish out to the increase or decrease in its price. Price childs play in demand is how the product is demanded influences the changes in price. If a product is elastic, a notic eable change in price takes bespeak when de! mands increase or decrease. If a product is inelastic, it is most believably a need, and the price does not change due to demands. The come with I work for would be considered inelastic. I work for a pathology research lab in a hospital. We receive specimens from surgeries to diagnose. If it is a necessity for that somebody to have surgery, then we automatically receive the business. Our...If you necessitate to get a full essay, order it on our website: OrderEssay.net

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