Answer:
b. a 20% decrease in the price of foreign travel will increase the quantity demanded by 80%.
Explanation:
A price elascitiy of 4 means demand is elastic. Price elasticity greater than 1 indicates demand is elastic.
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price.
Elastic demand is when a change in price leads to a change in quantity demanded.
If price increases and demand is price elastic, the quantity demanded falls.
If price falls and demand is price elastic, the quantity demanded rises.
If price elasticity is 4, 20% decrease in the price of foreign travel will increase the quantity demanded by 80%.
Inelastic demand is when price elasticitiy is less than 1.
I hope my answer helps you
A type of <u>group</u> that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called an association or labor group. This is further explained below.
<h3>What is a constitution?</h3>
Generally, the government is guided by a set of basic principles or precedents that are accepted by the public.
In conclusion, Association and labor groups are two types of groups that have a constitution and <em>bylaws</em> and have been formed for a reason other than getting insurance.
Read more about the constitution
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I believe the correct answer is Theory X.
It is a rather pessimistic point of view which suggests that workers have no ambitions whatsoever and are constantly in need of someone to pat their shoulders and tell them they did a good job. They always need approval even though they are not interested in the work they do.
Answer: $5,500
Explanation:
The Cost of Goods available for sale is the price of the inventory and purchases that the company intends to sell.
June 1 Inventory = $1,000
June 12 Purchase = $2,400
June 23 Purchase = $2,100
Cost of goods available for sale = 1,000 + 2,400 + 2,100
= $5,500
