If the price of milk rises, when is the price elasticity of demand likely to be the lowest?

a. one year after the price increaseb. one month after the price increasec. immediately after the price increased. three months after the price increase

Answers

Answer 1

Answer: (A)

One year after price increase

Explanation:

Price elasticity refers to how sensitive the demand for a product is to changes in its price. A product can be either price elastic or inelastic. If an increase in price does not affect the demand, then that product is inelastic. Demand for essential goods such as milk, oil, salt, and gas is inelastic.

An increase in the price of milk will have little effect on the quantities demanded. Milk is an essential commodity; customers will adjust to the high costs over time. After one year, the demand for milk will be the same before the price increase.


Related Questions

A standard is a:
A.level of quality or performance that people accept as normal.
B.a document with specific rules and regulations.
C.set unit of measurement for a particular purpose.
D.normal way of addressing business letters.

Answers

The answer is A) A level of quality or performance that people accept as normal.
Explanation: because it’s a standard. The basis.

Answer:

A standard is a: Level of quality or performance that people accept as normal

Explanation:

Just did this and got it right.

when completing a worksheet, the


A. beginning inventory amount appears in the balance sheet debit column of the worksheet.


B. ending inventory amount appears in the unadjusted trial balance debit column of the worksheet.


C. Beginning inventory amount appears in the adjustment credit column.


D. ending inventory amount appears in the income statement debit column


its not D

Answers

The answer for this is A.
Final answer:

In a financial worksheet, the beginning inventory amount appears in the balance sheet debit column (correct option is A). The other options B, C, and D have inaccuracies relating to where inventory amounts typically appear in financial worksheets.

Explanation:

When completing a financial worksheet for a business, option A is correct. The beginning inventory amount appears in the balance sheet debit column. This is the value of the inventory that the company had at the start of the accounting period. This inventory is considered an asset, therefore, it is placed on the debit side of the balance sheet.

The ending inventory amount will not appear in the unadjusted trial balance debit column (option B). Generally, the ending inventory is recalculated after the adjustments for the period have been made.

The beginning inventory amount does not appear in the adjustment credit column (option C). Adjustments, including beginning inventory, usually don't appear in the credit column.

You're correct indicating that the ending inventory does not appear in the income statement debit column (option D). The income statement typically includes revenues and expenses, not inventory amounts.

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A professional does specialized work that's primarily: degree based. medical or legal. well paying. intellectual and creative

Answers

A professional, generally does specialized work that’s primarily (A) degree-based.

Some occupations that are included in this category are teachers, IT specialists, and doctors. People who are considered as professionals use advanced knowledge that they have received from specialized instructions to solve complex problems that they face in their working environment.

A professional's work is primarily intellectual and creative, often related to higher educational achievements and specialized training. Professional jobs, such as those in law, medicine, or business, come with a salary and are typically associated with the upper-middle or upper class. These positions are lucrative career choices but require a significant investment in education and development.

A professional does specialized work that is primarily intellectual and creative, often requiring a high degree of education and training. The notion of a 'professional' typically encompasses a range of highly skilled occupations, such as doctors, lawyers, and CEOs. These roles are not only associated with higher educational attainments, such as professional degrees like the JD, MD, or MBA, but are also linked to higher social stratification, often being considered as roles for the upper-middle or upper class. Professionals benefit from the mastery of complex knowledge and skills obtained through prolonged training and practical experience.

The work of professionals is commonly self-directed and compensated with a salary, in contrast to hourly wage earnings. Additionally, professional fields like healthcare, technology, and trades that require licensing or certification usually command higher salaries due to the significant education and training involved. One of the most significant areas of job growth exists within the health field, reflecting the demands of an aging population and the need for a wide variety of healthcare services.

It's important to note that while these roles tend to be lucrative career choices, they require a considerable investment in education and career development. Professionals in these fields also tend to experience benefits beyond financial compensation, such as increased job security and more autonomous working conditions.

Which of the following statements bes explains why the red bar goes up awhen the blue goes up?

Answers

You did not add a statement/picture, however If you want to learn for yourself you could look up: Newton's law of universal gravity

Thomas asked a co-worker out on a date. The co-worker laughed and started making fun of him in front of other employees. For Thomas, this is an example of ____________?

Answers

Bullying or Being mean/rude. Making fun of others is not pleasant so to the victim, this would be bullying and or being rude/mean

Thomas asked a co-worker out on a date. The co-worker laughed and started making fun of him in front of other employees. For Thomas, this is an example of workplace harassment.

Workplace harassment involves unwelcome and inappropriate behavior that creates a hostile or intimidating work environment. In Thomas's case, the co-worker's actions of laughing and making fun of him publicly constitute harassment, as they undermine his dignity and contribute to a negative atmosphere.

Harassment can lead to emotional distress and decreased job satisfaction, impacting an individual's mental health and work performance.Employers are responsible for preventing and addressing such behavior to maintain a respectful and supportive workplace, ensuring all employees feel safe and valued.

when compared with last development countries a higher proportion of people in developed Nations fall into which age group

A. infants

B. older than 65

C. children between the ages of 5 and 10

D. of the child-bearing age

Answers

Children between ages of 5 and 10.

Answer:

The answer is older than 65

Explanation:

gradpoint

What causes changes from one phase of the business cycle to another?

Answers

If you look it up your question on google your answer will come up and click on the very top link.
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