Which of the Following Is Likely to Have the Most

question 163

Multiple Choice

Which of the following is likely to have the most price elastic demand?

• A)clothing
• B)blue jeans
• C)Tommy Hilfiger jeans
• D)All three would have the same elasticity of demand because they are all related.

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Definitions:

Collection Float

The time period between when a check is deposited in a bank and when the funds are available in the account, impacting cash flow management.

Lockbox System

A lockbox system is a service offered by banks to companies for the receipt of payment from customers, utilizing a special post office box to speed up the collection and processing of check payments.

Lockbox System

A service offered by banks to companies for the receipt of payment from customers, involving the collection and processing of checks at a secure location.

Customer's Account

A record maintained by a business or financial institution that tracks an individual customer's purchases, balances, and transactions.