Answer:
Principal broker
Explanation:
A principal broker is also the managing broker. An individual with this position is one who has the legal requirements or capacity to go into agency contracts with consumers. He is also legally responsible for the activities of the entire firm. He is higher than the broker in rank as he supervised the broker. He has a greater license than the broker when it comes to real estate.
Answer:
1) Equal to
2) Efficient
3) Equal to
4) Total
Explanation:
1) Marginal cost pricing is when you price the good equal to the extra cost of producing an extra good, so for example if I am a shoe manufacturer and the cost of producing an extra pair of shoe is $4 and I price the pair of shoe at $4 I am using marginal cost pricing.
2) When the producer is using marginal cost pricing the output produced is efficient as there is no dead weight loss and efficient level of output is produced.
3,4) If I produce 10 pairs of shoes and they cost me $500 then my average total cost for the pair of shoes is 500/10 = $50 and if I keep the price of the shoe at $50 I am using average cost pricing, so average cost pricing is keeping price equal to the average total cost.
Answer:
Price elasticity of demand = 1.2
Explanation:
Given:
Old price (P0) = $2
New Price (P1) = $3
Old quantity (Q0) = 4,200
New quantity (Q1) = 3,000
Price elasticity of demand = ?
Computation of Price elasticity of demand :
Price elasticity of demand = % change in quantity / % change in price
Price elasticity of demand = [(4,200-3,000)/3,000] / [(3-2)/3]
Price elasticity of demand = 1.2