The price of a camera decreases from $200 to $180, and in response to the price change the quantity demanded increases from 60 to 70 units. Therefore, demand for cameras in this price range is inelastic.
An economic word known as "inelasticity" describes an item or service's unchanging quantity when its price varies. When prices rise, consumers' purchasing patterns essentially stay the same, and when prices fall, those same purchasing patterns still hold true. This is known as inelastic demand. When an item or service's quantity remains constant when its price increases, it is said to be "inelastic. "When a good or service's price increases or decreases, consumers' purchasing patterns essentially stay the same. The same is true when the price of the good or service decreases. The demand for an item or service that is totally inelastic would not fluctuate regardless of price; however, no such good or service exists. Elastic contrasts with inelastic.
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Answer:
(D) presumes that everyone can perform sound logical analysis at all times
Explanation:
Economics assumes that everyone is rational and will always choose an option that yields the highest utility in all cases. This accounts for the term "the rational human being" in Economics.
She works 8 hour and 30 minutes a day - 1hr of lunch break is 7hrs and 30 min
7hrs =$61.25
30min =$4.375
$61.25 + $4.375 =$65.625
62.625(money made in one day) x 7 days a week = $459.375
Answer $459.375
Answer:
True
Explanation:
An activity based costing (ABC) system assigns resources to the different production activities, and then unit costs are determined by the proportion of the production activities that every unit requires.
This is a much more complex costing method than just assigning overhead costs based on direct labor hours or machine hours.
Answer:
Varies
Explanation:
They can go against natural resources.
