When demand curves intersect, the curve with the larger slope in absolute value (the steeper demand curve) is more elastic?

Country A had a population of 2,000, of whom 1,300 worked an average of 8 hours a day and had a productivity of 5. Country B had

SpyIntel [72]

Answer:

Country

c. B had the higher level of real GDP and Country A had the higher level of real GDP per person

Explanation:

Country A's population 2,000, worked 1,300 with 8 hours a day with a productivity of 5 = 52,000 units of something produced. GDP per capita = 52,000 / 2,000 = <u>26 per capita</u>

Country B's population 2,500, worked 1,700 with 8 hours a day with a productivity of 4 = <u>54,400 units</u> of something produced. GDP per capita = 54,400 / 2,500 = 21.76 per capita

3 0

3 years ago

If there is no written designated agency relationship, a client of Meramac Realty has what kind of relationship with Meramac

LuckyWell [14K]

Answer: c. A nonagency relationship with everyone in the office.

Explanation:

For an agency relationship to exist in the eyes of the law, there must be a contract with a written designated agency relationship between the client and Meramac Realty.

With no such contract in existence, the law recognizes no agency relationship between Meramac and any of its affiliates with the client. There is therefore a non-agency relationship with everyone in Meramac.

5 0

2 years ago

A small market orders copies of a certain magazine for its magazine rack each week. Let X 5 demand for the magazine, with pmf Su

Oksanka [162]

Answer:

See explanation below.

Explanation:

Let X the random variable that represent the demand for the magazine, the pmf for X is given by:

X 1 2 3 4 5 6

P(X) 1/15 2/15 3/15 4/15 3/15 2/15

3 magazines

For this case the total spent is 2*3 = $ 6

And the net revenue for this case would be:

$4-$6 = -$2 , X=1 (demand 1)

$4*2-$6 = $2 , X=2 (demand 2)

$4*3-$6 = $6 , X=3 (demand 3)

For the values of X=4,5,6 the net revenue will be $6 since the number of magazines is 3

And the expected value for the net revenue would be:

$E(R) = \frac{1}{15} *(-2) +\frac{2}{15} *(2) +\frac{3}{15}*(6) + \frac{4}{15}*(6) +\frac{3}{15}*(6) +\frac{2}{15}*(6) = \frac{74}{15}=4.93$

4 magazines

For this case the total spent is 2*4 = $ 8

And the net revenue for this case would be:

$4-$8 = -$4 , X=1 (demand 1)

$4*2-$8 = $0 , X=2 (demand 2)

$4*3-$8 = $4 , X=3 (demand 3)

$4*4-$8 = $8 , X=4 (demand 4)

For the values of X=5,6 the net revenue will be $8 since the number of magazines is 4

And the expected value for the net revenue would be:

$E(R) = \frac{1}{15} *(-4) +\frac{2}{15} *(0) +\frac{3}{15}*(4) + \frac{4}{15}*(8) +\frac{3}{15}*(8) +\frac{2}{15}*(8) = \frac{80}{15}=5.33$

As as we can see we have a higher expected value for the case with 4 magazines.

5 0

3 years ago

A characteristic found only in oligopolies is products that are slightly different. interdependence of firms. break even level o

Delvig [45]

Answer:

The correct answer is the interdependence of firms.

Explanation:

An oligopoly market is a market structure where there are a few firms. these firms are interdependent. Price and output decisions of a firm affect its rivals. An oligopoly firm faces a downward-sloping demand curve.

In other market structures like monopolistic or perfect competition, the firms are not interdependent.

7 0

3 years ago

What are closing costs?

I am Lyosha [343]

Answer:

fees paid at the end of a real estate transaction.

4 0

3 years ago

When demand curves​ intersect, the curve with the larger slope in absolute value​ (the steeper demand​ curve) is more elastic?

When demand curves intersect, the curve with the larger slope in absolute value (the steeper demand curve) is more elastic?