If good X has 7 substitutes and demand is inelastic, then if there are 9 substitutes for
Question:
If good X has 7 substitutes and demand is inelastic, then if there are 9 substitutes for good X, will demand be elastic? Explain your answer.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
No Moving from 7 to 9 substitutes doesnt necessarily change demand from being inela...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
CANMNMM January of this year. (a) Each item will be held in a record. Describe all the data structures that must refer to these records to implement the required functionality. Describe all the...
-
Economics: Elasticity Explain shortly. Please do correctly and take your time. There is a written question at the bottom. There are total thirty one MC and one written. 1. What is the effect on total...
-
Let A, B be sets. Define: (a) the Cartesian product (A B) (b) the set of relations R between A and B (c) the identity relation A on the set A [3 marks] Suppose S, T are relations between A and B, and...
-
Calculate the managerial remuneration from the following particulars of Zen Ltd. the company has only one Managing Director. Net Profit Net Profit is calculated after considering the following:...
-
1. In 1998, MBAs from leading schools including Harvard turned down offers from outstanding firms such as McKinsey, Parthenon, and Goldman Sachs to join Enron. What made Enron so appealing? 2. How...
-
According to surveys, Gen-Y employees are the most disengaged of all workers, and 62 percent of employees under the age of 25 say they are unhappy with their jobs. What might be some reasons for this...
-
The number of units to be sold to reach a certain target profit is calculated as a. target profit unit contribution margin b. target profit contribution margin ratio c. (fixed expenses + target...
-
As you can see in the following table, demand for heart transplant surgery at Washington General Hospital has increased steadily in the past few years: The director of medical services predicted 6...
-
Who were some of the principal Portuguese explorers? What did they achieve and what were the ramifications of these voyages for Portugal, and the world?
-
Price elasticity of demand is predicted to be higher for which good of the following combinations of goods? a. Dell computers or computers b. Heinz ketchup or ketchup c. Perrier water or water...
-
Alexi says, When a seller raises his price, his total revenue rises. What is Alexi implicitly assuming?
-
A subsidiary that has a net operating loss carryforward is acquired. The related deferred income tax asset is $230,000. Because the parent believes that a portion of this carryforward likely will...
-
A truck cruising with the velocity 120 km/hour, collides elastically with a cow on the express way. What would be the cow's velocity in the frame of reference of the truck's driver? Why? Two billiard...
-
In the swing carousel amusement park ride, riders sit in chairs that are attached by a chain to a large rotating drum as shown in (Figure 1). As the carousel turns, the riders move in a large circle...
-
1. A uniform plane wave of 200 MHz traveling in free space strikes a large block of o=0 normal to the surface located at y = 0 as materials having &, 4, , 9 and shown below. H HA = ni E H a=0 X + =...
-
Consider a classical gas consisting of N impenetrable hard sphere particles of radius R. If the gas is placed in a relatively large container of volume V, a. (5%) determine the dependence of (N,V, E)...
-
10) An object was a mass of 10.0 kg is at rest at the top of a frictionless inclined plane of length 8.00 m and an angle of inclination 30.0 with the horizontal. The object is released from this...
-
The U-tube in Fig P2.151 is open at A and closed at D. What uniform acceleration ax will cause the pressure at point C to be atmospheric? The fluid is water. ft 1 ft
-
You deposit $10,000 in a savings account that earns 7.5% simple interest per year. What is the minimum number of years you must wait to double your balance? Suppose instead that you deposit the...
-
You wish to build a parallel-plate reactor to continuously perfuse cells in a monolayer of the bottom plate. The reactor has a height of 250m (h), a width of 2.5cm (w) and a length of 4cm (l). The...
-
Elephants can create and detect infrasonic sounds sounds with frequencies lower than about 2 0 Hz which can travel long distances. They create these sounds using the cavity that extends from their...
-
An object with mass of 5 kg, specific heat of 300 J/kgC, surface area of 0.02 m2 , and initial temperature of 25C is placed in a convection oven with internal temperature of 200C and heat transfer...
Study smarter with the SolutionInn App