Answer:
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Explanation:
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Answer:
(a) How this episode is likely to affect the economic well-being of people in the country
In the short-run, there will be an increase in labor demanded, increasing jobs to build homes and repair the damage caused by the earthquake. In the long-run, things will begin to go back to normal.
(b) How this episode is likely to affect the economy’s measured GDP
In this case, GDP measurements will shift causing less of an input in private spending and an increase in government spending due to subsidies to increase home-building.
Answer: Elasticity of demand is 7.06
Explanation:
P1= $2,750
P2=$2,880
Q1=446,000
Q2=321,000
Elasticity = -0.76
Thus, elasticity of demand for laptops is 7.06. This means that laptops are highly price elastic as it is greater than 1.
The reason is <span>Marketing research is expensive.
</span>The established firm usually has a large amount of capital at its disposal, so they could do market research in order to strengthen their position.
Small business on the other hand, usually struggle to even barely continuing their operation for the next month.
Answer:
What is the probability that the next student to purchase a meal plan will be assigned to the Commons?a. 0.33
Explanation:
P(A) = (No. of ways A can occur)/(Total no. of possible outcomes)
P=1/3
P=0,333
