Why might the demand for business products be inelastic, while the demand facing individual sellers of those products is extremely elastic?
A. because total demand for business products often exceeds supply
B. because the industry demand is rising
C. because the demand for business products is derived, and some industries have many sellers of essentially homogeneous products
D. because most business producers use haggling in their buying
E. None of these answers is correct.
Answer: C
You might also like to view...
There is no federal requirement for businesses to disclose the presence of certain chemicals to their community.
Answer the following statement true (T) or false (F)
There's an old saying, "The job is not finished until the paperwork is done." From an activity network standpoint, this does not necessarily mean that the paperwork can't begin until the last non-paperwork activity is completed
It might be possible to work on some paperwork as early activities are completed. In order to depict this in an activity network: A) Hammock activities could be drawn. B) Subroutines could be added. C) Shortcuts can be added to the network. D) Laddering could be used to redraw the network.
MFL Sales expects to sell 460 units of Product A and 450 units of Product B each day at an average price of $15 for Product A and $33 for Product B The expected cost for Product A is 38% of its selling price and the expected cost for Product B is 57% of its selling price. MFL Sales has no beginning inventory, but it wants to have a six-day supply of ending inventory for each product. Compute the budgeted cost of goods sold for the next (seven-day) week. (Round the answer to the nearest dollar.)
A) $67,032 B) $66,519 C) $130,500 D) $77,606
Visionary companies are able to outperform their competitors because
A. their vision statements are more product-oriented. B. they isolate internal stakeholders in defining their visions. C. they provide more aspirational visions. D. their visions are primarily financial.