Answer:
The correct answer is: Increase the price in order to increase revenue.
Explanation:
To begin with, the price elasticity of demand for a product is the concept known in the economics that refers to the variation that happens in the quantity demanded of a product when the price of it changes a bit. Moreover, when the price elasticity of demand is 0.5 the product is relatively inelastic and therefore that if the price increases the quantity demanded will basically stay the same more less and that is why if the price increases the product will no suffer changes in its quantity demanded and that will cause the supplier to earn a higher total revenue.
Germany does not have a comparative advantage, which is the ability to do something better or more efficiently that someone else. Even though they are producing bananas, the industry is artificially supported by the tax incentives and not because Germany is an amazing banana-growing location.
The consequences for the economy are lost opportunity costs that could be producing things where they <em>do </em>have a comparative advantage (cars, for example). Another consequence is that the tax money could be better spent on other things.
Statistics is your answer i believe
Answer:
Availability Bias(Amber)
Representativeness Bias(Logan)
Sunk-Cost Bias(Katrina)
Anchoring and Adjustment Bias(Sue)
Confirmation Bias(Mike)
Overconfidence Bias(Bill)
Hindsight Bias(Kathy)
Framing Bias(Allison)
Escalation of Commitment Bias(Patrick)
Explanation:
Bias can as well be regarded as cognitive bias, it can be explained as tendency that comes in when making decisions or taking actions in ways that are illogical.It should be noted Decision making can often be biased as well as flawed process.
The fundamental decision making bias are been listed below as;
1)Availability Bias
2)Representativeness Bias
3)Sunk-Cost BiasAnchoring
3)Adjustment Bias
4)Confirmation Bias
5)Overconfidence Bias
6)Hindsight Bias
7)Framing Bias
8)Escalation of Commitment Bias
Answer:
120
Explanation:
There are 5 different errands and five different time slots for the errands. We are then required to find in how many ways these errands would be arranged in the time slots schedules.
The number of ways the errands can be arranged in the time slot is 5!
5! = 1×2×3×4×5= 120
Therefore there are 120 different ways to arrange the errands in the times slots schedules(5) available.