Answer:
Correct option is (b)
Explanation:
Price elasticity of demand is the law that states that proportion of percentage change in demand due to percentage change in price only and not any other factors. Demand is perfectly elastic if quantity demanded changes tremendously with change in price. Demand is inelastic if there is no change in quantity demanded with increase in price.
Here, Get smart university plans to increase tuition fees assuming that there will be no change in demand for the seats offered by the university due to increase in price. So, it assumes that demand is inelastic.
Answer:
Falls:rises.
Explanation:
The MU/P (Marginal Utility/Price) ratio for good X is greater than the MU/P (Marginal Utility/Price) ratio for good Y. To achieve consumer equilibrium, the consumer reallocates dollars from the purchase of good Y to the purchase of good X. If the law of diminishing marginal utility holds, the marginal utility of good X falls and the marginal utility of good Y rises.
The law of diminishing marginal utility states that as the unit of a good or service consumed by an individual increases, the additional satisfaction he or she derives from consuming additional units would start decreasing or diminishing as the units of good or service consumed increases.
Also, the marginal utility of goods and services is the additional satisfaction that a consumer derives from consuming or buying an additional unit of a good or service.
Hence, the marginal utility of good X falls and the marginal utility of good Y rises because the consumer no longer derive satisfaction or benefits (utility) from the consumption of good X while he would switch to good Y for satisfaction.
Answer:
ill answer shortly just leaving it here os i dont forget about it
Explanation:
<span>It's an initiative by the United States Department of Agriculture to create School gardens, community gardens, urban farms, and small-scale agriculture projects in rural and urban areas, to benefit the community itself and help achieve sustainable development.</span>
The impression strategy that Alan is using is the self-promotion. The impression strategy of self-promotion tends a person to promote his or herself or in another term, the person would brag his or her accomplishments or the activities that he or she has done in a way which is forceful or a way that other people would think that he or she does not need to know about.
