Describe an example of a product that has highly elastic demand. Describe at least two factors that make this product's demand so elastic.

Answers

Answer 1

Answer: A good or service is said to be highly elastic if there is a a slight change in price this will cause a sharp change in the quantity. Usually these kinds of products are readily available in the market - example is jewelry. lottery ticket
The factors are - The govt that propose a law that is in favor of the industry
availability of substitutes
hope it helps

Answer 2

Answer:

ANSWER: GOLD JEWELERY

EXPLANATION: Gold Jewelery is a classic example of a product with highly elastic demand. Consumers often tend to sway away to substitute products or postpone buying the gold jewelery if the price increases by a very small amount.

Two factors which makes the product's demand so elastic are:

a. AVAILABILITY OF SUBSTITUTES: People often tend to shift to substitute products when the price of the product increases. For example, for Gold Jewelery, people often tend to shift to jewelery which are artificial in nature or are made up of comparatively cheaper metals like silver.

b. INCOME LEVEL: Income level of the consumer plays a very important role in the market. Buying Gold jewelery after price hike for a person who earns $1000 a month maybe a trouble but for someone who earns as handsome as $10,000 a month may not be burden.

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What are the characteristics of a Market Economy?

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In the United States, we have a market economy. A market economy is when all the resources are owned individually. Does that help?

Answer:

A market economy is when all the resources are owned individuallyExplanation:

Can cathy withdraw money from her ira savings account

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we would be able to answer that but we don't have enough information to

X Inc. expects net cash flow from operating activities to be $ 110 comma 000, and the company plans purchases of equipment of $ 80 comma 000 and repurchases of stock of $ 18 comma 000. What is Duckalo's free cash flow?

Answers

Answer: Duckalo's free cash flow = $30,000

Given:

Net cash flow from operating activities = $110,000

Purchases of equipment = $80,000

Repurchases of stock = $18,000

We can compute free cash flow as :

Free cash flow = Net cash provided by operating activities - cash payments for planned investments in long-term assets - cash dividends

Free cash flow = $110,000 - $80,000 - $0 =$ 30,000

The bank statement shows a balance of $4250, deposits in transit total $1200, and outstanding checks that equal $300. The check registar balance should be; A.2750? B.$3350 C.$4550 D.$5150 E.$5750