Elastic Goods are sensitive to price change because of its natural element present. A. Sometimes false B. False C. True D. Sometimes true
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Elastic Goods are sensitive to price change because of its natural element present.
A. Sometimes false
B. False
C. True
D. Sometimes true
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- The excess cost of an item is the profit you would have made on it. True FalseAn unstable environment is one in which the number of external elements of the environment that lie in the firm's domain is very large. That means many environmental elements (e.g., customers, vendors, suppliers, investors, unions, policies etc.) can affect the firm but they may not necessarily change frequently. (Hint: The content on Stable-Unstable dimension of external environment may be relevant here) True FalseWhich of the following is not true in terms of contributing positively to the business model of leasing assets for a lessor? Select one: a. Often a lessor can sell an asset that is returned at the end of the lease for more than the residual value included in pricing the lease. b. A lessor cannot claim capital cost allowance on assets it leases. c. A lessor who manufactures assets can use leasing as a way to sell its inventory to lessees that otherwise would not be able to afford to purchase the asset from them outright. d. A lessor retains legal ownership of assets it leases which is important in situations where lessees do not honour their lease commitments. e. None of the above.
- Select one: O a. An increase in income causes an increase in the demand for a normal good. O b. An increase in income causes a decrease in the demand for an inferior good. O c. Adecrease in income causes the demand curve for a normal good to shift to the left. O d. Anincrease in income causes the demand curve for an inferior good to shift to the right.Value maximization is one of the main goal of the firm. It means a. maximizing the long term value of the firm b. maximizing the short term value of the firm c. maximizing the long term debts/loans of the firm d. maximizing the short term profit of the firmIf a good is characterized by easy exclusion, but many people or entities may concurrently use it without reducing the amount available for others, the good is known as an example of which of the following terms?
- MODIFIED TRUE or FALSE. Write "T" if the given statement is TRUE, correct and valid. Write "F", if otherwise. If your answer is either "T" or "F" explain, why is it true or false. Cite a theory, use a formula or graph to support your answers. 17. Other factors/determinants such as pests and diseases can affect largely the demand of the people for a specific good or service. 18. Price elasticity of either demand or supply measures the responsiveness of the quantity demanded or quantity supplied by buyers or sellers to changes in its own income 19. A perfectly inelastic demand exhibits a horizontal demand curve and n=∞. 20. A perfectly elastic supply exhibits a vertical supply curve and n=0. 21. In a monopolistic market, there are several suppliers in the market. 22. The given equation Q = 13 -0.25P is an example of a supply equation. 23. The formula to derive the elasticity of either for demand or supply is: O= _ x _ 24. Luxurious goods are considered inferior goods for minimum…A purchasing agent need not worry about a tiny difference in price when a large quantity is being bough; True or FalseA price that is too low may not generate enough interest or have enough of a margin for profit. Set the price too high and you may also lose customer's interest. True or False?
- All of the following statements concerning shortage costs are true Except: Shortage costs include loss of goodwill, loss of a sale, loss of a customer, loss of profits, and late penalties Shortage costs are difficult or impossible to measure with any accuracy High shortage costs favor small inventories It is the cost of having no items in the inventory when it is needed by customersIf the price elasticity of demand for a good is -0.3, then a 20 percent decrease in price results in a a. 0.015 percent increase in the quantity demanded. b. 0.5 percent increase in the quantity demanded. c. 6 percent increase in the quantity demanded. d. 9 percent increase in the quantity demanded.A customer's "Willingness to Pay" should always be below the price that is being charged by the firm in the industry. - True - False - Depends - Doesn't Matter which option is correct ?