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bearhunter [10]
3 years ago
8

If the percentage change in the quantity of teapots demanded is greater than the percentage change in the price of teapots, then

: A) the price elasticity of demand for teapots is greater than 1 in absolute value. B) the demand for teapots is unit-elastic. C) the price elasticity of demand for teapots is equal to zero. D) the price elasticity of demand for teapots is less than 1 in absolute value.
Business
1 answer:
nalin [4]3 years ago
4 0

Answer:

The correct answer is option A.

Explanation:

The price elasticity of demand is the measurement of responsiveness of demand for a commodity to change in its price level.

The price elasticity is derived by the ratio of change in quantity to change in price.

If the change in the quantity demanded of the commodity is greater than the change in its price, in that case the price elasticity of demand will be greater than 1 in absolute value.

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Explanation:

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Assume that the marginal propensity to consume is 0.8 and that potential output is $800 billion. If real GDP is $850 billion, to
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The following policies would bring the economy to potential output is Decrease government spending by $10 billion.

<h3>What is Marginal Propensity?</h3>

The "Marginal Propensity" to consume is defined as calculate quantification of money that consumers are ready to spend.

The term "Marginal propensity" to consume is term used in economics. It measures monetary value which consumer is willing to spend to buy goods and services instead of saving it.

The "Marginal Propensity" to consume tends to increase economic activities of country by keeping cash flowing and by not keeping it stagnant. It also helps in increasing trade value and quality and cost of products because it increases healthy competition among companies and in which consumers are ultimately benefitted.

Therefore , we can conclude that the correct option is C.

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2 years ago
Smythe Co. makes furniture. The following data are taken from its production plans for the year. Direct labor costs $ 5,870,000
Elenna [48]

Answer:

$2.80 per chair

$2.25 per table

Explanation:

If cost is assigned at a rate based on direct labor hours, the total disposal cost for chairs and tables is, respectively:

D_c=\frac{254,000}{16,400+254,000}*\$630,000=\$591,789.94\\D_t=\frac{16,400}{16,400+254,000}*\$630,000=\$38,210.06\\

The respective disposal cost per unit is:

C = \frac{\$591,789.94}{211,000}=\$2.80/chair\\ T=\frac{\$38,210.06}{17,000}=\$2.25/ table

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Yuliya22 [10]

Answer:

parametric estimating

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Interactive online advertising, known as Blank______, often has drop-down menus, built-in games, or search engines to engage vie
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Interactive online advertising, is known as rich media. often has drop-down menus, built-in games, or search engines to engage viewers. This is further explained below.

<h3>What is Rich media?</h3>

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