The agent of Lisa would likely tell her about the process and the rules in regards of the disability buy and sell insurance. The agent would likely explain that if she acquired this type, the insured person would likely be protected when the person has exhibit a disability and that having this type of insurance have benefits and are likely to be tax free.
If the quantity supplied by producers is relatively insensitive to price changes, supply is price inelastic.
Inelastic demand is demand for which the change in quantity demanded is small due to changes in price. Demand is elastic if the formula yields an absolute value greater than 1. In other words, quantity changes faster than price. If the value is less than 1, demand is inelastic.
For example, consumers are less price relatively insensitive if the product or service is unique or has few alternatives. Consumers are less price sensitive when total costs are low relative to total revenues. The total effort compared to the total cost of the final product also influences price sensitivity.
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If the quantity supplied by producers is relatively insensitive to price changes, supply is ______. Multiple choice question.
price inelastic.
quantity demanded.
relative price increase.
change in price.
Answer:
$3 trillion and $2 trillion, respectively
Explanation:
Private savings in (Income - Taxes) -Consumption
National/Public Savings are (taxes - expenditures)
Answer:
C = 0.05*x + 34
Explanation:
There are several ways to approach this problem. However, we will follow a logical and simple procedure.
It is always possible to write any linear equation as:
y = mx + b, where:
m = slope
b = y-intercept (value when x = 0)
The problem statement guarantees us that b=34, because if we do not drive any mile (x=0), then the cost should be equal to $ 34. Also, we know that m=0.05, because every driven mile (increase in x by 1) the cost should increase by $5. Therefore, we can write the linear equation as:
y = 0.05x + 34
Changing the dependent variable y for C (to relate it with the cost) we have that:
C = 0.05x + 34