Answer:
total revenues would fall
Explanation:
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one. If demand is inelastic, there would be little or no change in the quantity demanded.
Due to the subsidy, there would be an increase in supply.
The increase in supply would lead to excess supply and a fall in price. Since demand is not sensitive to price. there would be no change in demand as a result of the fall in price.
Thus, price would be lower and quantity would remain the same. This would lead to a fall in price.
Answer:
B. GDP includes non market production and is therefore a good measure of a nation's overall welfare
Explanation:
- A GDP is a total values of the goods and the services that are produced within a given country border and thus is the most common measure of measuring the country in terms of the size of the economy.
- Thus can tell the health of the country and is the monetary value of all the goods and services. The non market activities include the production of the food at homes these services don't account for the in-country GDP.
Answer:
$21,000
Explanation:
The new bridge would take 30 man hours of labor at $50 per hour, in activity based costing, this means that ,
30*50 = 1500.
Now, it will require 14 piers to support it each time a pier is sunk into the harbor,hence the final calculation will be:
30*50*14 = 21000.
Hope this Helps.
Goodluck.
Answer: the proportion of a country's people that can read and right
Explanation:
originally literacy rate is based on the number of LITERATE persons in a give age group.
