Cars Are _________ Than Yachts Because _______________

question 96

Multiple Choice

Cars are _________ than yachts because _______________.

• A)less price elastic;they have more available substitutes
• B)more price elastic;they have more available substitutes
• C)less price elastic;they are more of a necessity good
• D)more price elastic;they are more of a necessity good

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Definitions:

Retroactive Change

A change applied to past periods or transactions in financial records or systems, typically to correct errors or implement new information.

Revised Estimated

Revised estimated refers to the updated projection or calculation of a particular metric, budget, schedule, or plan based on new information or changes in circumstance.

Salvage Value

The calculated end-life value of an asset after its utility period is over.

Double-Declining-Balance Method

An accelerated method of depreciation that doubles the regular depreciation rate, reducing the asset’s book value more quickly in the early years of its life.