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Answer:
The elasticity of supply for hot cocoa is 1.43.
(D) Supply in the market for coffee is less elastic than supply in the market for hot cocoa
Explanation:
Using the midpoint formula,
Elasticity of supply for hot cocoa = (change in quantity supplied/average quantity supplied) ÷ (change in price/average price)
change in quantity supplied = 101 - 31 = 70
average quantity supplied = (101+31)/2 = 66
70/66 = 1.06
change in price = 9.75 - 4.5 = 5.25
average price = (9.75+4.5)/2 = 7.125
5.25/7.125 = 0.74
Elasticity of supply for hot cocoa = 1.06 ÷ 0.74 = 1.43. The supply for hot cocoa is elastic because the elasticity of supply is greater than 1.
Elasticity of supply for coffee = (73 - 31)/(73+31)/2 ÷ 0.74 = 42/52 ÷ 0.74 = 0.81 ÷ 0.74 = 1.09. The supply for coffee is elastic because the elasticity of supply is greater than 1.
However, supply in the market for coffee is less elastic than supply in the market for hot cocoa because the elasticity of supply for coffee is less than that of hot coffee.
The statement is "false".
The Employee Retirement Income Security Act secures the
retirement resources of Americans by executing rules that qualified plans must
take after to guarantee design trustees don't abuse plan resources. Under
ERISA, plans must provide members with data about arrangement highlights and
financing, and outfit data routinely and for nothing out of pocket.
ERISA additionally sets least benchmarks for interest,
vesting, advantage collection and subsidizing. The law characterizes to what
extent a man might be required to work before getting to be plainly qualified
to take an interest in an arrangement, to collect advantages and to have a non-forfeitable
appropriate to those advantages. It additionally sets up point by point
subsidizing decides that require design patrons to give sufficient financing to
the arrangement.
Explanation:
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