Answer:
When silo gimp graduated from college with a degree in flower growing. He was voted AS THE FLORIST OF THE YEAR
Explanation:
Anyone that studies flower growing or horticulture is a florist or could be voted as one which made Silo to win such an award.
Answer:
The output growth rate is 3%.
Explanation:
Use the growth accounting equation as follow
ΔA% = ΔY% - αΔK% - βΔL%
Where
∆A = change in productivity = 2%
∆K = growth in capital =
∆L = growth in labor =
α = elasticity of capital = 0.2
β = elasticity of labor = 0.8
∆Y = change in output = ?
Placing values in the formula
2% = ΔY% - ( 0.2 x 1% ) – ( 0.8 x 1% )
2% = ΔY% - 1%
ΔY% = 2% + 1%
ΔY% = 3%
Hence, the output growth rate is 3%.
Depends upon what you call entry level jobs and where you're at i've seen anything from 30k to 70k
Answer: please refer to the explanation section
Explanation:
Assume we have two accompanies in the market Firm A and Firm B and the Demand curve be Dq. When Firm A and Firm B form a Monopoly through Collusion the will split the demand in half, each firm will act as if its demand curve is Dq/2.
Firm A = Dq/2, Firm B = Dq/2. Firm A will supply Q/2 units and Firm B will supply Q/2 units. The Market Demand curve will the combined demand curves of both firms. Market Demand Curve = Dq/2 + Dq/2 or simply Dq
When a 1 percent decrease in price produces more than a 1 percent increase in quantity sold, the product or service is an Elastic Demand.
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What is an Elastic Demand?</h3>
- Elastic demand is measured by its percent of change in demand divided by its percent of change in price, provided all other factors remain the same.
- If the change in price and change in demand is proportionate, the item is neither elastic nor inelastic.
- An item has elastic demand if its demand changes more than its price changes.
- For example, if two stores sell identical products of the same amount for different prices, incase of a perfectly elastic demand nobody would buy from the seller with higher priced product.
Learn more about Elastic Demand here:
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