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mixas84 [53]
3 years ago
15

Suppose the demand for wheat increased dramatically between 1950 and 2000 but the equilibrium quantity increased only slightly.

Absent any other​ changes, what could explain the small increase in the equilibrium​ quantity? The equilibrium quantity of wheat could have increased only slightly given a dramatic increase in demand because
Business
1 answer:
Dahasolnce [82]3 years ago
4 0

Answer:

Because Demand is more Inelastic.

Explanation:

Market Equilibrium is determined where Market Demand = Market Supply & upward sloping supply curve, downward sloping demand curve intersect .

If Demand is more inelastic (less respondent to price) , the demand curve is steeper. This implies massive increase i.e rightwards shift in demand curve - would establish new equilibrium with equilibrium quantity increased slightly.

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Many manufacturers have quality control programs that include inspection of incoming materials for defects. Suppose a computer m
zimovet [89]

Answer:

Explanation:

There are total 5 batches and two boards are selected from each batch for inspection.

Let the boards are numbered from 1 to 5.

If the selected boards are 1 and 2, then it is represented in pair as (1, 2).

If the selected boards are 1 and 3, then it is represented in pair as (1, 3).

Similarly, other pairs can be obtained.

a) Let X be the number of defective boards observed among the two inspected.

If the boards 1 and 2 are the only defective boards in a lot of five, then

(1,2),x=2; (1,3),x=1; (1,4),x=1; (1,5),x=1;

(2,3),x=1; (2,4),x=1; (2,5),x=1;

(3,4),x=0;\ (3,5),x=0;\ (4,5),x=0.(3,4),x=0; (3,5),x=0; (4,5),x=0.

P(X=0)=  3/10 =0.3

P(X=1)={6 \over 10}=0.6P(X=1)=  6/10 =0.6

P(X=2)={1 \over 10}=0.1P(X=2)=  1/10 =0.1

b)

x                  0               1                    2

p(x)            0.3           0.6                0.1

​

​μ  X  =0⋅0.3+1⋅0.6+2⋅0.1=0.8

σ  X ² =(0−0.8)²  ⋅0.3+(1−0.8)²  ⋅0.6+(2−0.8)² ⋅0.1=0.36

μₓ=0.8, σX  =0.6

 

​

5 0
3 years ago
McDonald's is planning to introduce its own plant based product called Mc Plant. McDonald's marketed the new product in selectiv
zheka24 [161]

Test Marketing E

Explanation:

Its not development or concept testing and pretesting would be like a survey and product launch it hasn't fulled launched yet so its test marketing to see if its good enough to launch in US its also selective stores E

5 0
3 years ago
1 point
Alenkinab [10]
Capital

Have a good day
6 0
3 years ago
A frequent complaint about matrix organizations is that communications are? Hard to automate Closed and inaccurate Complex Misle
SIZIF [17.4K]

Answer:

Complex

Explanation:

An organizational structure can be defined as the process which typically involves dividing an organization into various functional units.

A matrix organizational structure is a type work structure where reporting relationships between employees are set up as a matrix rather than the conventional hierarchy approach.

This ultimately implies that, there are two (2) chains of command; employees have dual reporting relationships to both a project and functional manager.

Basically, the matrix organizational structure can be classified into three (3) categories, these are;

1. Weak matrix structure.

2. Balanced matrix structure.

3. Strong matrix structure.

One of the frequent complaint about a matrix organizational structure is that the exchange or dissemination of informations (communications) are complex because there exist a dual reporting relationships.

7 0
3 years ago
On January 1, 2020, Pharoah Corporation redeemed $640,000 of bonds at 99. At the time of redemption, the unamortized premium was
marusya05 [52]

Answer:

The Journal entry is as follows:

Bonds Payable A/c Dr. $640,000

Premium on Bonds Payable A/c Dr. $19,200

               To Gain on Redemption of Bonds            $25,600

               To Cash                                                       $633,600

(To record the re-acquisition of the bonds)

Working notes:

Cash = $640,000 × 0.99

         = $633,600

7 0
3 years ago
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