8.35=8
Any decimal point below 5 is rounded down; above 5 is rounded up
Ex: 10.6=11
Hope this helps!
Answer:
Inelastic; elastic
Explanation:
Goods with inelastic demand curves tend to raise more government revenue compared to goods with the elastic demand curve. An increase in price does not affect the demand of inelastic goods and it remains the same, that is why, governments usually increase the prices of goods that have inelastic demand curve, for example, petrol and toll tax, etc.
Answer:
32) - Option c i.e., $900.
33) - Option d i.e., 60.
34) - Option d i.e., 60.
35) - Option a i.e., $450.
Explanation:
32) - Mr. Barrick 's income as a corporation is $900.
Then, we apply the formula of profit maximization that is :
33) - While Mr. Barrick controlled the market, the total manufacturing production of N = 40 competitive companies was Q = 60.
In a reasonably marketplace, companies can sell where the marginal cost remains equivalent to the demand curve or that MC remains equivalent to the demand curve at 60.
34) - After the monopoly cost per unit raised by $60.
Price as well as quantity shall be determined by the monopoly where MR = MC. Price is determined mostly on demand curve relating to that same points where MR = MC has been 60 as well and the quantities are determined also on the y-axis that is 30.
35) -
You didn't give any choice. :(