<u><em>Capitalists want to make money . . . the best way to do that is to make businesses/production more profitable by increasing production to a large scale (i.e. industrialization)</em></u>
Answer:
The answer is: C) 2.5 and producers are very responsive to the price change.
Explanation:
The price elasticity of supply refers to what percentage does the quantity supplied change when the price of the good changes in 1%. It is calculated using the following formula:
- price elasticity = % change in quantity supplied / % change in price
Price elasticity of supply of tablets = 20% / 8% = 2.5
For every 1% that the price increases, the quantity supplied will increase by 2.5%.
Since PES > 1, the supply is very price elastic.
Answer:
.
Explanation:
Entrepreneurs innovate sometimes by commercializing inventions and ideas. They look for new business opportunities and find resources they can use in exploiting them. Commercializing an invention was done by Jeff Bezos in this instance. He saw the distribution opportunities available in the internet, and with the growing percentage increase of the internet users per month, he decided to create Amazon. He transformed the invention of the internet into the innovation of Amazon.
The ability to posses this characteristics is one of the qualities of a good entrepreneur.
Answer:
$1 million
Explanation:
Section 179 deduction of the IRS code was enacted to help small business owners take depreciation deductions for certain assets ( capital expenditure I.e. the money spent on acquiring and maintaining fixed assets such as buildings and equipments ) in one year rather than continuous depreciation over a long period of time.
The new law increased the maximum deduction from $500,000 to $1 million.
For example: lets say you buy a computer for your office, under section 179 you can deduct the full cost of your computer in one year. This a very okay because the life span of your computer is short
Percent markup based on the selling price: 28.1%
Explanation:
The cost of the TV for the seller was
Of this, the markup of this price was 39%. Therefore, the value of the markup (in dollars) with respect to the cost for the seller was
So, this was the markup relative to the cost for the seller.
The price paid by the purchaser instead is
Therefore, the percent markup based on the selling price (paid by the purchaser) is:
Learn more about percentages:
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