C. Especially art is what they look for
A price ceiling is when a government decides what the maximum price for a certain commodity or a product can be. It can be put to good use if the people are poor and cannot purchase a necessary product such as flour or water or similar. Then the government can help them procure it with a price ceiling.
Answer:
B) 0.7; inelastic
Explanation:
The computation of the absolute value of the price elasticity of demand is shown below:
Elasticity is
= [(Sales - prior sales) ÷ ( Sales + prior sales) ÷ 2] ÷ [(price - dropped price) ÷ (price - dropped price) ÷ 2
= [(1,040,000 - 890,000) ÷ (1,040,000 + 890,000) ÷ 2] ÷ [(25,000 - 20,000) ÷ (25,000 + 20,000) ÷ 2]
= (150,000 ÷ 965,000) ÷ (5,000 ÷ 22,500)
= 0.15 ÷ 0.22
= 0.7
It is less than one so the demand is inelastic
I think the correct answer from the choices listed above is option A. The loan type that requires you to make loan payments while you’re attending school would be unsubsidized federal loan. For this type, y<span>ou are responsible for paying the interest on a Direct Unsubsidized Loan during all periods. Hope this answers the question.</span>
