A large increase in gas prices creates a demand for cars with good gas mileage. It takes months for car companies to make these cars. How do you describe this market for cars? A. inelastic B. elastic C. static D. inferior

Question and answer

Question

Asked 2/7/2013 2:50:18 PM

Updated 65 days ago|11/14/2020 7:51:17 PM

1 Answer/Comment

Get an answer

Search for an answer or ask Weegy.

Original conversation

[object Object]User: A large increase in gas prices creates a demand for cars with good gas mileage. It takes months for car companies to make these cars. How do you describe this market for cars? A. inelastic B. elastic C. static D. inferior

Weegy: A. inelastic
abhik1100|Points 685|

User: Which is a fixed cost? A. rent B. labor C. raw materials D. heating fuel

Weegy: A. Rent. A fixed cost is A cost that does not vary depending on production or sales levels, such as rent, property tax.
mirajane|Points 156|

User: Which of these products or services is likely to have an inelastic supply in the short run? A. cargo ships B. haircuts C. newspapers D. staples

Weegy: A product with elastic supply is one where the price you offer will have a strong impact on whether the seller will sell. A. cargo ships
sarah143|Points 21|

User: Businesses often use information such as age, income level, and occupation to sell products to certain groups of people. What is this type of information called? A. revenues B. complements C. markets D. demographics

Weegy: The answer is D. demographics
Expert answered|daniel12426|Points 20|

User: Due to an increase in her rent, Isa needs to cut back her spending on other items. Which of the following types of goods will Isa consume less of? A. substitutes B. normal goods C. inferior goods D. complements

Weegy: Due to an increase in her rent, Isa needs to cut back her spending on other items. She will consume less: B. normal goods. [ Normal goods are the products or services for which demand grows when consumers' purchasing power rises, and shrinks when purchasing power falls, with the price remaining stable. For example, quality alkaline batteries are a normal good: people prefer them over inferior batteries when their income allows them to spend additional money on them, but their price is set. The term "normal" is used to suggest that these goods are what all consumers would "normally" purchase if their income was enough. Read more: Normal Goods in Economics | eHow.com ]
Expert answered|daniel12426|Points 20|

User: A steel mill has fixed costs of $100 per hour and variable costs of $50 per hour. What will happen to these costs if the mill closes? A. Both fixed and variable costs will remain the same. B. The mill will have no fixed costs or variable costs. C. The fixed costs will decrease, but the variable costs will increase. D. The variable costs will drop, but the fixed costs will stay the same.

Weegy: A steel mill has fixed costs of $100 per hour and variable costs of $50 per hour. these costs if the mill closes The variable costs will drop, but the fixed costs will stay the same. [ [ The variable costs will essentially drop to zero because the mill will be operating for zero hours. However the fixed costs will remain the same, as the steel mill must have opened before it can close. ] ]
Expert answered|daniel12426|Points 20|

User: If prices rise but income stays the same, what is the effect on the quantity demanded? A. Quantity demanded increases. B. Fewer goods are bought. C. More goods are bought. D. Demand stays the same.

Question

Asked 2/7/2013 2:50:18 PM

Updated 65 days ago|11/14/2020 7:51:17 PM

1 Answer/Comment

New answers

Rating

emdjay23

If prices rise but income stays the same, the effect on the quantity demanded is that fewer goods are bought.

Added 65 days ago|11/14/2020 7:51:17 PM

This answer has been confirmed as correct and helpful.

Comments

There are no comments.