Answer:
b. a 15 percent decrease in the price.
Explanation:
Differential in quantity / differential in price
0.12 Demand /X Price = 0.8
X supply = 0.12 / 0.8
price = 0.15
Answer:
Product by value analysis
Explanation:
product in descending order of their individual dollar contribution to the firm, as well as the total annual dollar contribution of the product.
Answer:
True.
Explanation:
When companies are initiating measures to boost profits for public interest, the public social welfare is increased. Companies do represent that the purpose of their business is not only to raise profits but also to serve society and their welfare. The statement is therefore true corporate social responsibility is not relevant when profits of organizations are aligned to the public interests.
Answer:
D
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases
Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.
Supply is perfectly inelastic if a small change in price has no effect on quantity supplied