Answer:
20%
Explanation:
if the advertising elasticity = 0.25 and you want to increase the quantity demanded by 5%, you will need to increase advertisement by = 5 / 0.25 = 20%
The advertising elasticity measures how much does a change in advertising changes the quantity demanded of a product or service.
Answer:
. All countries can gain from trade if they all specialize in production according to comparative advantage
Explanation:
Comparative advantage is when a country produces a product at a lower opportunity cost when compared with its trading partners.
Absolute advantage is when a country produces more quantities of goods and services than its trading partners.
A country can still have comparative advantage in production if opportunity cost is increasing once it's opportunity cost doesn't become greater than that of its trading partners.
A country can have comparative advantage without having absolute advantage.
I hope my answer helps you.
Answer:
False
Explanation:
What is a transportation company called?
- Courier companies are usually spin-offs from freight forwarders.
- There are various types of courier companies, such as airfreight courier companies or road couriers.
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Answer:
The correct answer is letter "B": increase; decrease.
Explanation:
Producer surplus is the difference between the price at which the manufacturer actually sells a product and the minimum price the manufacturer would have accepted. The surplus results from the producer being able to sell their goods at a market price higher than their minimum price.
So, <em>if producer A manufactures a product that is being sold at a higher price level abroad, its producer surplus will </em><u><em>increase</em></u><em>. However, the overall economic surplus with trade will </em><u><em>decrease</em></u><em> since the introduction to producer A to the market will allow consumers to purchase the goods at a lower price</em>.
Answer:
A)A sports team t-shirt:(Rivalrous and Excludable)
B)The air we breath (Nonrivalrous and nonexcludable)
C)Atlantic Bluefin Tuna in the Mediterranean Sea:(Rivalrous and nonexcludable)
D)A toll road in normal traffic:(Nonrivalrous and excludable)
Explanation:
Excludable goods can be regarded as goods whereby there is possibility of preventing consumers that has not paid for that good from accessing it.
Rivalrous goods are types of goods that can only be occupied by a person
there is competition created for their consumption.
Non-excludable goods can be regarded as public goods they are one
which are commonly available within a society for all people. These goods cannot be excluded from certain person.
Non-rivalrous goods can be regarded as public goods whereby the supply of that goods is not affected by consumption of people.
