Answer:
price elasticity of demand
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.
If this change in price (a 25% increase) leads to a 50% decrease in quantity demanded, demand is elastic and revenue would fall if price is increased
If this change in price (a 25% increase) leads to a 10% decrease in quantity demanded, demand is inelastic and revenue would increase if price is increased
Answer:
A) quantity supplied will decrease, the equilibrium price will increase, eventually the quantity demanded will decrease - due to the decrease in the milk production
B) quantity demanded will increase, the equilibrium price will increase, eventually the quantity supplied will increase - due to positive benefits of chocolate
C) quantity demanded will decrease, the equilibrium price will decrease, eventually the quantity supplied will decrease - due to the lower price of a substitute product
D) the equilibrium price will decrease, eventually the quantity supplied and demanded will increase - due to the lower manufacturing price
Answer:
1,066,000
Explanation:
it is 6.6% of the money added to 1,000,000
A lack of credibility. Sally hasn't built up a credible work history because she is new too the team and doesn't show understanding because she asks too many questions, so Ellen shows a lack of trust in her abilities.
Answer:
The equivalent units of production for conversion costs are 464,760 units
Explanation:
The computation of the equivalent unit is shown below:
= (Completed and transferred units × completed percentage) + (ending work in progress units × completed percentage)
= (444,600 units × 100%) + (50,400 units × 40%)
= 444,600 units + 20,160 units
= 464,760 units
For computing the equivalent units,we have to consider both the units which are mentioned in the question.