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Irina-Kira [14]
3 years ago
8

As price elasticity of supply increase the supply curve?​

Business
1 answer:
egoroff_w [7]3 years ago
6 0

Answer:

As price elasticity of supply increase the supply curve will be closer to the horizontal axis thus shallower.

Explanation:

The price elasticity of supply can be defined as a measure of how much the price of a good or service changes with a corresponding change in the supply of that specific good or service. This means that a good or service can be described as either elastic or inelastic depending on how it's price and supply parameters behave. Inelastic goods are those goods whose price change with reference to their supply do not change much. These goods are sometimes referred to as essentials since people tend to buy them even if the prices are high. On the other hand, elastic goods are those ones whose price fluctuates depending on the supply. These goods are called luxuries, since people buy them only when their prices are low, and avoid them when the price rises.

The price elasticity of supply can be determined using the expression below;

E=%Q/%P

where;

E=elasticity of supply

%Q=percentage change in quantity supplied

%P=percentage change in the price for the corresponding changes in quantity supplied

The supply curve generally represents changes in price verses the changes in quantity supplied. The price is plotted on the left vertical axis, against a corresponding quantity supplied on the horizontal axis.

A product that has more price elasticity of supply will cause the supply curve to be shallower: closer to the horizontal axis. On the other hand a product with less elastic supply will make the supply curve to be steeper: closer to the vertical.

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KIM [24]

Answer:  

Direct Method

          Operting Activities

$1,390 Cash Collected from Services

-$7,864 Cash to rent Equipment

-$0,864 Cash to repair facilities

$24,285  Collected from customers  

        Financing Activities

-$0,150  Repaid Long Term  

$16,797  Net Cash  

Explanation:

These others activities are not included because doesn't inclulde movements of cash.

(2) Purchased new equipment costing $3,434; signed a long-term note.

8 0
3 years ago
Enter a logical function in cell F5 that calculates employee FICA withholding. If the employee is full-time and has at least one
mixer [17]

Answer:

the formula in cell F5 =IF(AND(B5="FT",C5>0),0.07*(D5-E5),0.05*(D5-E5))

Explanation

Check attachment for the given data and solution data

3 0
3 years ago
The freeze which destroyed a good portion of the South American coffee crop in the mid-1970s increased the price of tea. Explain
Anarel [89]

Answer:

attached diagrams

Explanation:

As the freeze decrease teh output of coffee the supply decreased heavily. This make the price of coffee go up which decreased demand. This makes consumer move to substitute goods like tea making increase their demand. This ended with a greater price of both, coffee and tea.

6 0
2 years ago
Shaq and Kobe are parties to a business contract containing a binding arbitration clause. A dispute between Shaq and Kobe is sub
sveta [45]

Most likely, Shaq will ask that the court overturn the award based on the acceptance of the bribe by Pat.

Option - b

<u>Explanation: </u>

Arbitration is a method to solve quarrels outside the court. The quarrel will be decided by the arbitral tribunal which gives the arbitration award. This award is lawfully compulsory from both the parties and enforceable in the courts.

The court can impose but these awards will be overturned by the court only in special cases. The court will declare void, or ignore to accept an arbitration award if it is a fraud product or misbehavior by the arbitrator.

7 0
2 years ago
What is an example of a consumer good that you could also use as an industrial good to start a business?
Karolina [17]

Answer:

lets say the Sugar

Explanation:

Sugar is a consumable good as u can use to make tea, it also can be used in the production of many industrial goods eg beverage, brewery, etc

6 0
2 years ago
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