Inelastic demand Study guides, Class notes & Summaries
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ECS2604 EXAM PACK 2023
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7.5 Assignments 
7.5.1 First semester assignments 
SEMESTER 1 
ASSIGNMENT 01/2018 
CLOSING DATE: 02 March 2018 
UNIQUE NUMBER: 
WEIGHT: 40% of semester mark 
TL501: Learning units 1 – 4 
Prescribed Book: Chapters 1 – 4 
This assignment contributes 40% towards your semester mark. 
Please ensure that this assignment reaches the University before the due date. 
Answer all the questions on a mark-reading sheet or on myUnisa. 
IMPORTANT! The first ten multiple choice questions of thi...
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ECON 2106 Exam 2 Questions with complete solutions
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Define elasticity: Correct Answer-A dimensionless measure of sensitivity or responsiveness. EX: How responsive is the quantity of oil demanded to a change in the price of oil? 
 
Define the price elasticity of demand: Correct Answer-A measure of the responsiveness of quantity demanded to a change in price. More responsive equals more elastic. 
 
Price elasticity of demand = percentage change in quantity demanded / percentage change in price. 
 
Define the price elasticity of supply: Correct Answ...
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ASU MKT 300 EATON EXAM 4
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Internal/External Factors of Price - Answer-Internal Factors of Price: 
1. Marketing Objective 
2. Marketing Mix Strategy 
3. Cost 
 
External Factors of Price: 
1. Demand for your product. 
2. Competition 
3. Economy 
 
Price Elasticity - Answer-Elastic - Consumers buy more or less of a product when the price changes 
 
Inelastic- An increase or decrease in price will not significantly affect demand 
 
What happens to price/revenue when the demand is elastic/inelastic - Answer-Demand is... Pr...
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American Military University ECON 101: ECON 101 Tests 1-3.
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Question 1 10 / 10 points 
The branch of economics that examines the impact of choices on aggregates in the economy is: 
Question options: 
positive economics. 
normative economics. 
macroeconomics. 
microeconomics. 
Question 
2 
10 / 10 
points 
When we are forced to make choices we are facing the concept of: Question options: 
ceteris paribus. 
free goods. 
scarcity. 
the margin. 
Question 
3 
10 / 10 
points 
An economic system is the set of rules that define _______ and _______ . Question op...
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RECA Commercial Real Estate Management Certification Exam (2024) || With 100% Verified Questions & Answers
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RECA Commercial Real Estate Management Certification Exam (2024) || With 100% Verified Questions & Answers 
RECA Commercial Real Estate Management Certification Exam (2024) || With 100% Verified Questions & Answers 
 
Commercial real estate assets have a number of attributes that make them unique relative to other types of investments. These attributes include the following: (x10) - ANSWER - 1. They involve land 
2.Transaction time frames are long 
3. Transaction costs are high 
4. they are expe...
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MKTG 351 CSUF Exam #2 2023 with 100% correct answers
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Consumer Product - correct answer -Satisfies a want or a need 
 
business product - correct answer -a product used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers 
 
content marketing - correct answer -a strategic marketing approach that focuses on creating and distributing content that is valuable, relevant and consistent 
 
Relationship Marketing - correct answer -a strategy that focuses on keeping and improving relationships...
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RECA Commercial Unit 2 (A+ Guaranteed) Latest Update 2024
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Commercial real estate assets have a number of attributes that make them unique relative to other types of investments. These attributes include the following: (x10) correct answers 1. They involve land 
2.Transaction time frames are long 
3. Transaction costs are high 
4. they are expensive 
5. They are long lasting 
6. Highly regulated 
7. have a long production cycle 
8. are management intensive 
9. are heterogeneous 
10. Involve measuring return on investment 
 
 
 
1. Long-lasting, Durable ...
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ECO Midterm Exam Poss. Questions & Answers 2024
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ECO Midterm Exam Poss. Questions & Answers 2024 
 
 
Buying stock on the margin is a way to use leverage. - ANSWER-True 
 
Austrian economists tend to favor free market solutions to economic problems, and Keynesians tend to favor an active government. - ANSWER-True 
 
If a product faces an elastic demand curve, total revenue will increase when the price increases. - ANSWER-False 
 
Opportunity cost is - ANSWER-that which you give up in the best alternative choice when making a decision 
 
An in...
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RECA Commercial Unit 2 Questions and Answers Graded A+
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RECA Commercial Unit 2 Questions and 
 
Answers Graded A+ 
 
Commercial real estate assets have a number of attributes that make them unique relative to other 
types of investments. These attributes include the following: (x10) 1. They involve land 
2.Transaction time frames are long 
3. Transaction costs are high 
4. they are expensive 
5. They are long lasting 
6. Highly regulated 
7. have a long production cycle 
8. are management intensive 
9. are heterogeneous 
10. Involve measuring return ...
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BUS-M300 Final Exam Questions And Correct Answers
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BUS-M300 Final Exam Questions And Correct Answers 
 
When is Price Promotion effective? 
When the customer is sensitive to price. 
Inelastic 
% change in demand is LESS THAN % change in price. 
Elastic 
% change in demand is GREATER THAN % change in price. 
-Price increases, revenue decreases 
-Price decreases, revenue increases 
Promotional Pricing 
Price below list or cost for short run sales (discounts and rebates). 
Everyday Low Pricing Strategy 
For price sensitive. 
Customary Pricing 
Tra...
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