sonyaabernathy09 sonyaabernathy09

21-06-2024
Business

Answered

For a good that is a luxury, demand
a.tends to be inelastic.
b.tends to be elastic.
c.cannot be represented by a demand curve in the usual way.
d.has unit elasticity.

Answer :

readmymail2003 readmymail2003

21-06-2024

Answer:

b. tends to be elastic.

Explanation:

Luxury goods are typically non-essential or non-necessary items that consumers can easily reduce their consumption of when their income decreases or when prices rise. In economic terms, this means that the quantity demanded of luxury goods is more responsive to changes in price compared to essential goods (like basic food items or utilities). Therefore, the demand for luxury goods tends to be elastic.

Answer Link

Other Questions

[1] The following are situations that may violate the Code of Professional Conduct. Assume, in each case, that the CPA is a partner, unless stated otherwise. Di

Seen our team mention MTBF a lot , mostly just what the expected MTBF is for each of our products. How does a high MTBF impact a product? a. Randall Davis Inter

Find the indefinite integral.∫8x(3x)x for x>0∫8x(3x)x=__ for x>0

Seema has gone to a software consultant to find which word processor she should purchase. The software consultant guided her to go for OpenOffice by telling its

1. Find [tex]\frac{3}{7} + \left(\frac{-6}{11}\right) + \left(\frac{-81}{21}\right) + \left(\frac{-5}{22}\right)[/tex].Solution:[tex]\[ \begin{array}{l} \frac{3

What approximate percent of all bacteria are harmless and can even be beneficial to humans?

Find the value of x that makes lines u and v parallel.

If a feature or structure is similar among organisms due to homoplasy, then that means that the feature or structure (was passed down from the ancestor of those

Create a short documentary highlighting the diverse wildlife and natural vegetation in a particular region. This can involve research, scriptwriting, and video

Parte 1. Complete la tabla.\begin{tabular}{|c|c|}\hline Raíz & Procedimiento \\\hline[tex]$\sqrt{4}=$[/tex] & [tex]$\sqrt{2 \times 2}=\sqrt{2^2}=2^{\fra

At position 8 you are making an app that needs to take spanish input from a microphone and turn it into english text in real time. Which service should you use?

Human interaction that expands and advances understanding, often through words that one person uses to explain something to another, is referred to as:A. social

There are three important properties of cues to be integrated in making a diagnosis. Which of the following is NOT one of these?A. DiagnosticityB. SalienceC. Av

Octets are generally considered to give molecules the most stable formations. This is true for most atoms, except hydrogen and helium which have duets.A. TrueB.

During early globalization efforts, outsourcing was typically confined to __________ activities. a. agricultural b. financial c. legal d. manufacturing e. servi

________ is learning in which a voluntary response is strengthened or weakened, depending on its favorable or unfavorable consequences.A) Classical conditioning

c*(a+bc)*ubahlah ekspresi reguler tersebut menjadi mesin dfa

Which point would map onto itself after a reflection across the line [tex]\(y = x\)[/tex]?A. [tex]\((-4, -4)\)[/tex]B. [tex]\((-4, 0)\)[/tex]C. [tex]\((0, -4)\)

According to Yang's (2000) book, what is the main difference between the Anglo-conformity perspective (assimilation theory) and the cultural pluralism perspecti

Consider the following sets of sample data: A: $34,500 , $37,100 , $23,900 , $24,400 , $26,000 , $31,800 , $29,400 , $22,800 , $34,300 , $23,600 , $31,300 , $26