Answer:
The quantity demanded will decrease by 2%.
Explanation:
This can be determined using the elasticity formula as follows:
e = Percentage change in quantity demanded change / Percentage change in price ........ (1)
Where;
e = elasticity of demand for college textbooks = -0.1
Percentage change in quantity demanded change = ?
Percentage change in price = 20%
Substituting the values into equation (1) and solve for Percentage change in quantity demanded change
-0.1 = Percentage change in quantity demanded change / 20%
Percentage change in quantity demanded change = -0.1 * 20% = -0.02, or -2%
Since the Percentage change in quantity demanded change is negative 2%, it implies that the quantity demanded will decrease by 2%.
The company used straight line depreciation based on number of units produced. This can be shown as follows:
Cost = $100,000
Life = 5 years or 18,000 units
Salvage value = $10,000
By straight line method;
Depreciation cost per unit = (100,000-10,000)/18,000 = $5
After producing 4,400 units, depreciation expense = 4,400*5 = $22,000.
Answer:
Having a wedding gown altered
Getting your hair done for a wedding
Explanation:
A service is rendered when there is no exchange of physical goods between the buyer and seller
When a wedding gown is altered and when my hair is done, there is no exchange of a physical good
<span>Two oil shocks, an expansive monetary policy, and growing competition as Europe and Japan recovered from the devastation of World War II.
By the end of the decade, the country went into what came to be called
stagflation, a combination of no growth and rising inflation. In effect, the country had the worst of both worlds.
President Carter’s appointment of Paul Volcker as Federal Reserve Chair started the path to change. He restricted the money supply in a war that drove up unemployment but eventually tamed inflation.
The Reagan presidency started with cuts in spending and income taxes in what was called a ‘supply-side experiment.’
The intent was to stimulate saving, work, and investment. The emphasis that the supply-side approach put on incentives is now a more prominent part of economic thinking, but the experiment itself led to larger fiscal deficits.</span>
Answer:
C. as the supply for milk increases, the price of milk will also increase
