Weegy: If both income and substitution-effects are strong, this region of the demand curve must be relatively price elastic.
User: If a company’s asset turnover rate increased from 2005 to 2006, which of the following conclusions can be made?
Options
a.The company was less efficient during 2006 in using its assets to produce profits.
b.The company produced more sales in 2006 for each dollar invested in assets.
c.The company was more profitable in 2005.
d.The company is over-invested in assets in 2006.
Weegy: The answer would be letter C. [ The company produced more sales in 2006 for each dollar invested in assets.
]
User: If a good has close substitutes,
Options
a.Its demand curve will be relatively elastic.
b.Its demand curve will be relatively inelastic.
c.Its demand curve could be unit-elastic.
d.Either (a) or (c).
Weegy:
If a good has close substitutes, Its demand curve will be relatively elastic.
User: The demand for most products varies directly with the change in consumer income. Such products are known as
Options
a.Normal goods.
b.Prestigious goods.
c.Complementary goods.
d.Inferior goods.
User: Which of the following statements is true with regard to price elasticity of demand?
Options
a.Elasticity remains constant throughout the demand curve.
b.Elasticity increases with increase in quantity demanded.
c.Elasticity increases as the price decreases.
d.Elasticity is equal to the slope of the demand curve.
(More) 