Answer:
Based on the information supply of cards is more elastic (price sensitive) than that of roses
Explanation:
Price elasticity of supply is defined as the sensitivity of quantity supplied to changes in price.
The formula is given below
Price elasticity of supply= Change in quantity supplied ÷ Change in price
In this scenario the demand for both roses and cards increases, however the price of roses increases more.
This implies that the denominator in the formula is higher in roses resulting in smaller price elasticity of supply.
The elasticity of supply for cards is higher than that of roses, so it is more sensitive to changes in price.
Cards can be stored from year to year so the labour for maintaining a stock of cards is low with resultant low price.
On the other hand roses require care to grow. It requires watering, application of chemicals to treat infestation and so on. So suppliers tend to push the extra cost of growing roses to the buyers
Answer: um... Imma say 6 i guess i don't really know
Explanation:
Lender
which is usually the bank
Answer:
The statement is false because a change in the price of Coke would not change the demand for Coke.
Explanation:
A demand schedule is a table that shows the quantity demanded at different prices in the market. A demand curve shows the relationship between quantity demanded and price in a given market on a graph. The law of demand states that a higher price typically leads to a lower quantity demanded
Answer:
C. 13.6%
Explanation:
Given that
Net operating profit after tax = 48,032
Average net operating asset = 354,414
Recall that,
RNOA = net operating profit after tax/average net operating asset × 100
Thus,
RNOA = 48032/354414 × 100
= 0.1355 × 100
= 13.55%
= 13.6%.