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Anastaziya [24]
3 years ago
11

Suppose the price of tablets increases by 8 percent and producers respond by increasing the quantity supplied by 20 percent. The

price elasticity of supply for tablets is: a) 0.4 and producers are very responsive to the price change. b) 0.4 and producers are not responsive to the price change. c) 2.5 and producers are very responsive to the price change. d) 2.5 and producers are not responsive to the price change.
Business
1 answer:
zimovet [89]3 years ago
4 0

Answer:

The answer is: C) 2.5 and producers are very responsive to the price change.

Explanation:

The price elasticity of supply refers to what percentage does the quantity supplied change when the price of the good changes in 1%. It is calculated using the following formula:

  • price elasticity = % change in quantity supplied / % change in price

Price elasticity of supply of tablets = 20% / 8% = 2.5

For every 1% that the price increases, the quantity supplied will increase by 2.5%.

Since PES > 1, the supply is very price elastic.

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Answer:

The additional satisfaction from consuming one more unit of a good

Explanation:

Marginal utility falls as consumption increases.

The Marginal Rate of Substitution (MRS) is the rate at which consumers exchange quantities of units of one good number for another good at the same level of utility.

I hope my answer helps you

8 0
3 years ago
Chili's, the popular restaurant chain, supports St. Jude Children's Hospital annually by inviting its guests to color a pepper a
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c. social  

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Answer:

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<u>Explanation:</u>

We need to take note that Chili's support for St. Jude Children's Hospital isn't all about promoting their brand, but towards promoting a social cause, namely St. Jude's School Program which would ensure children receiving medical care in the hospital can stay up-to-date with their school assignments.

Their actions as a popular restaurant chain could go a long way by encouraging other companies to support social causes.

8 0
3 years ago
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ivann1987 [24]

Answer:

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Explanation:

It is an occupation related to dentistry which is in the field of health.

7 0
2 years ago
The two major types of transactions that affect the international flow of money are:
andre [41]
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4 0
3 years ago
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Explanation:

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