Productivity, hope this helps:)
Answer:
The correct answer is option d.
Explanation:
If a demand curve is linear and downward sloping, different points on the line can show different values of slope. The value of slope will be equal to the ratio of change in price to change in quantity demanded. The value of slope will be the same throughout the line.
The price elasticity is the ratio of change in quantity to change in price. The price elasticity can be different for different points on the demand curve.
The points on the lower parts are more inelastic while the points on the upper portion are more elastic. The midpoint represents unit price elasticity.
Since the upper portion is more price elastic, an increase in price will cause a more than proportionate decrease in the quantity demanded. This will cause the total revenue to decrease.
Answer:
The price elasticity of supply is 1.22
Explanation:
Please refer to the attached file
Since smoking is very popular. (1 billion people smoke) It would be very important if they start with researching about smoking, so they can hopefully reduce the amount of smokers in the world.
