Answer:
The price elasticity of a product shows how many percent the requested quantity changes as the price increases by one percent. In the normal case, the elasticity is a negative number, as demand decreases as the price increases; the reverse is extremely unusual.
In the case of large companies, however, the price elasticity of demand is usually much larger. This is so because not only characteristics such as the quality of the product are weighted, but also the brand itself has a value in itself, which sustains the variations in price. Thus, trendy brands such as Starbucks have an established clientele that will not vary due to small price variations. On the other hand, these companies offer a high variety of products, which liquefy said possibility of falling demand, granting greater elasticity.
Choose a product you're familiar with, and then write answers to the following.
a. Give an example of natural capital that is used to make this product. (Complete
sentences are not necessary. 2.0 points)
b. Give an example of human capital that is used to make this product. (Complete
sentences are not necessary. 2.0 points)
A.) 120 - 2.5t = 1.5t
Adding 2.5t to both sides,
120 - 2.5t + 2.5t = 1.5t + 2.5t
120 = 4t
Dividing both sides by 4,
t = 120 ÷ 4
t = 30
B.) The solution represents the fact that at 30 seconds, James and Brianne are at the same height after 30 seconds of riding the elevator and running up the stairs respectively.
C.) Assuming it takes 1 second to complete 1 feet, and after 30 seconds, they have completed 30 feet, the height above the ground floor when they are at the same height at the same time will be 120 - 30 = 90feet.
