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vladimir1956 [14]
3 years ago
13

The table above shows the demand schedules for looseminus−leaf tea of two individuals​ (sunil and​ mia) and the rest of the mark

et. at a price of​ $5, the quantity demanded in the market would be
Business
1 answer:
pogonyaev3 years ago
3 0
The answer to the table above would be 63 lbs
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When demand for a product changes because of its price, this product is said to be elastic.
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Answer:

When PED is greater than one, demand is elastic. This can be interpreted as consumers being very sensitive to changes in price: a 1% increase in price will lead to a drop in quantity demanded of more than 1%. When PED is less than one, demand is inelastic.

so it is true

Explanation:

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3 years ago
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An oil refinery is located 1 km north of the north bank of a straight river that is 2 km wide. A pipeline is to be constructed f
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Answer:

The point p should be located to 4.42 km far from the refinery

Explanation:

Minimum of these costs occurs when <em>x = 1/\sqrt{3}</em> , so <em>distance </em>should be <em>m</em> km to the east of the refinery.

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3 years ago
Greeting individual members of the audience before your presentation begins is an effective way to convey friendliness and confi
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2 years ago
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A firm will exit a competitive market when A. costs force the marginal cost curve to shift to the left. B. the longrun profit wo
kakasveta [241]

Answer:

B. the longrun profit would be negative.

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

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SLPS trade securities on their own behalf (not for someone else).

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