Answer: quantity demanded; price of the goods
Explanation:
Elasticity measures how much one economic variable responds to changes in another economic variable. The price elasticity of demand measures how responsive quantity demanded is to changes in price.
The price elasticity of demand is equal to the percentage change in quantity demanded divided by the percentage change in price. If the quantity demanded changes more than proportionally when price changes, then the price elasticity of demand is greater than 1 in absolute value, and demand is elastic. If the quantity demanded changes less than proportionally when price changes, then the price elasticity of demand is less than 1 in absolute value, and demand is inelastic. If the quantity demanded changes proportionally when price changes, then the price elasticity of demand is equal to 1 in absolute value, and demand is unit elastic.
Perfectly inelastic demand curves are vertical lines, and perfectly elastic demand curves are horizontal lines. Relatively few products have perfectly elastic or perfectly inelastic demand curves.
In terms of income elasticity of demand, a value greater than one implies that the percentage change in the quantity demanded of the good is greater than the percentage change in income.
it's known as fiscal policy
Answer:
$35
Explanation:
The computation of the expected value is shown below;
As we know that
= Estimated chance of damage percentage × dollar damage + Estimated chance of damage percentage × dollar damage + Estimated chance of damage percentage × dollar damage
= 3% × $350 + 5% × $250 + 12% × $100
= $10.5 + $12.5 + $12
= $35
We simply multiplied the estimated chance of damage percentage with the dollar damage and then added the other two so that the expected value could arrive
Answer:
The balance in Eve's prepaid insurance as of December 31, 2016 is $18,000
Explanation:
The computation of the balance of prepaid insurance is shown below:
= Per month policy one amount × total number of months in a year + Per month policy one amount × total number of months in a year
where,
Per month liability policy amount = Insurance amount ÷ given months
= $36,000 ÷ 18 months
= $2,000
Per month crop damage policy amount = Insurance amount ÷ given months
= $12,000 ÷ 24 months
= $500
Now put these values to the above equation
So, the value would equal to
= ($2,000 × 12 months) ÷ 12 months + $500 × 12 months
= $12,000 + $6,000
= $18,000
For computing the December 2016, we divided the 12 months from the liability policy
Answer: A) Remainderman
Explanation:
A Remainderman may sound like something from a horror movie but it is a property law term that refers to a person that is billed to take over or inherit an estate after the LIFE ESTATE of the previous owner is terminated.
Life Estate is an agreement where a person owns a property or asset for the duration of their life but as soon as they pass on, the asset or property reverts back to the original owner of a THIRD party.
The Remainderman is the person who the property reverts to.
In the above scenario therefore, the woman is in possession of a Life Estate but the Stepson is the Remainderman.
