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2 years ago

If the quantity supplied by producers is relatively insensitive to price changes, supply is ______. Multiple choice question.

Business

1 answer:

luda_lava [24]2 years ago

7 0

If the quantity supplied by producers is relatively insensitive to price changes, supply is price inelastic.

Inelastic demand is demand for which the change in quantity demanded is small due to changes in price. Demand is elastic if the formula yields an absolute value greater than 1. In other words, quantity changes faster than price. If the value is less than 1, demand is inelastic.

For example, consumers are less price relatively insensitive if the product or service is unique or has few alternatives. Consumers are less price sensitive when total costs are low relative to total revenues. The total effort compared to the total cost of the final product also influences price sensitivity.

Learn more about price inelastic at

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<em>Your question is incomplete. please read below to find the full content.</em>

If the quantity supplied by producers is relatively insensitive to price changes, supply is ______. Multiple choice question.

price inelastic.

quantity demanded.

relative price increase.

change in price.

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3 years ago

Beth is a retired teacher who lives in dallas and does some consulting work for extra cash. at a wage of $40 per hour, she is wi

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Price Elasticity of Supply. The price elasticity of supply is calculated as the percentage change in quantity divided by the percentage change in price.
Using the Midpoint Method
PES = ((Q2-Q1) / ((Q2 + Q1) / 2)) / ((P2-P1) / ((P2 + P1) / 2))
PES = (((10) - (7)) / (((10) + (7)) / 2)) / (((50) - (40)) / (((50) + (40)) / 2))
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the elasticity of beth's labor supply between the wages of $ 40 and $ 50 per hour is approximately 1.59
In this case, to 1% rise in price causes an increase in quantity supplied of 1.59%
answer:
the elasticity of beth's labor supply between the wages of $ 40 and $ 50 per hour is approximately 1.59
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3 years ago

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3 years ago

A drought in California destroys many red grapes. As a result of the drought, the consumer surplus in the market for red grapes

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Answer:

Explanation:

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3 years ago

A vending machine's coin box contains nickels, dimes, and quarters. The total number of coins in the box is 284. The number of

solong [7]

Answer:

there are 59 nickels, 12 quarters, and 213 dimes

Explanation:

let n = nickels
let q = quarters
let d = dimes

first step:

d = 3 (n + q) = 3n + 3q

d + n + q = 284

0.10d + 0.05n + 0.25q = 27.25

second step:

3n + 3q + n + q = 284

0.10 (3n + 3q) + 0.5n + 0.25q = 27.25

third step:

4n + 4q = 284

0.3n + 0.3q + 0.05n + 0.25q = 27.25

fourth step:

n + q = 71

0.35n + 0.55q = 27.25

fifth step:

replace q = 71 - n

0.35n + 0.55(71 - n) = 27.25

sixth step:

0.35n + 39.05 - 0.55n = 27.25

seventh step:

11.8 = 0.2n

eighth step:

n = 59

q = 71 - 59 = 12

d = 284 - n - q = 284 - 59 - 12 = 213

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3 years ago