Answer:
a.Elasticity of demand is p = k/q (an inverse relationship between the price and quantity)
b.My answer in part (a) means that an increase in the price of the item will lead to a decrease in its demand, hence the following applies
1.All prices are critical points of the revenue function.
2.Revenue is increased by lowering the price
Answer:
The correct answer is option b.
Explanation:
A production possibilities frontier shows the maximum possible bundles of two goods that an economy can produce using its given resources and level of technology.
Because of the scarcity of resources, the production of a good can be increased only by decreasing the production of the other good.
It is possible to increase the production of a good without reducing the production of the other only if the economy is producing at a point below the production possibilities curve.
Employee Retirement Income Security Act is established in 1974 mainly to protect the employee pension system from employer fraud.
<h3>What is Employee Retirement Income Security Act?</h3>
The Employee Retirement Income Security Act serves as an act of 1974 that contains rules on the federal income tax to favor employees.
This act, provides employee with benefit plans and a protection against wicked employers.
Learn more about Employee Retirement Income Security Act at;
brainly.com/question/1083892
Answer:
Answer is explained in the explanation section below.
Explanation:
Solution:
a.
Unleaded fuel prices are expected to fall by June 2019 according to future demand forecasts.
Since the future price is less than the spot price, it would be better for long-term buyers who can wait for the price to increase because the market is currently in BACKWARDATION. This happens due to a short-term disparity in demand and supply.
b.
If the information in this sector is reliable and impartial, the expected June price will most likely be similar to the real price we will see in June.
It is reliable if the market is accurate and impartial, i.e. the market research on which knowledge flows.
The prices of goods are either integrated or expressed in such a flow of knowledge.
So, if it's unbiased and reliable, the forecast prices would be reasonably similar to the real future price.
Answer:
Demographic
Explanation:
A market segment is a portion of a large market in which the individuals, groups or organizations share one or more characteristics that cause them to have relatively similar products needs.
A market segment consist of a group of customers that share a similar set of needs and wants.
Are four categories of segmentation:
-Geographic
-Psychographic
-Behavioral
-Demographic. The process of dividing a market through variables such as age, gender, education level, family size, occupation, income, and more. This is one of the most used strategies amongst marketers.
