Answer:
Option (c) is correct.
Explanation:
Given that,
Price elasticity of supply for cheese = 0.6 in the short run
Price elasticity of supply for cheese = 1.4 in the long run
If an increase in the demand for cheese causes the,
Price of cheese to increase by 15%
In short run,
Price elasticity of supply for cheese = Percentage change in the quantity supplied ÷ Percentage change in the price
0.6 = Percentage change in the quantity supplied ÷ 15
0.6 × 15 = Percentage change in the quantity supplied
9% = Percentage increase in the quantity supplied
In long run,
Price elasticity of supply for cheese = Percentage change in the quantity supplied ÷ Percentage change in the price
1.4 = Percentage change in the quantity supplied ÷ 15
1.4 × 15 = Percentage change in the quantity supplied
21% = Percentage increase in the quantity supplied
Answer:
Unsuccesful outcomes
Negative Respponses from others
The answer is A. direct loans, and C. work-study programs.
A business is a productive organization—an organization whose purpose is to create goods and services for sale, usually at a profit. Business is also an activity. One entity (e.g., a person, an organization) “does business” with another when it exchanges a good or service for valuable consideration. Business ethics can thus be understood as the study of the ethical dimensions of productive organizations and commercial activities. This includes ethical analyses of the production, distribution, marketing, sale, and consumption of goods and services