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OverLord2011 [107]
3 years ago
12

Generally, we calculate elasticity as the: percentage change in quantity demanded/supplied divided by the change in price. perce

ntage change in price divided by the percentage change in quantity demanded/supplied. percentage change in quantity demanded/supplied divided by the percentage change in price. change in quantity demanded/supplied divided by the change in price.
Business
1 answer:
lozanna [386]3 years ago
5 0

Answer: Option (C) is correct.

Explanation:

Elasticity measures the responsiveness of percentage change in quantity demanded from percentage change in price.

Elasticity = \frac{Percentage\ change\ in\ quantity\ demanded/supplied}{Percentage\ change\ in\ price}

Types of elasticity:

(1) Perfectly elastic

(2) Inelastic

(3) Unitary elastic

(4) Less elastic

(5) More elastic

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What is the change due if a $5 bill is tendered for a charge of $4.21?
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What is the change due if a $5 bill is tendered for a charge of $4.21?

A.0.79

3 0
3 years ago
An increase price caused no change in quantity demanded. Thus, demand must be
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Answer:

Perfectly inelastic

Explanation:

A demand is perfectly inelastic when quantity demanded does not change in response to a change in price.

8 0
3 years ago
Suppose a competitive firm has​ cost, C​ = ​(0.002q3​) ​+ (22q)​ + 750, marginal​ cost, MC​ = 0.006q2​ + 22, and​ revenue, R​ =
aniked [119]

Answer:

 Options B and C are correct.

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Explanation:

At q = 150

R = 80q = 80(150) = 12,000

C = 0.002(150)3 + 22(150) + 750 = 6750 + 3300 + 750 = 10,800

R > C so first is incorrect.

MR = 80

MC = 0.006(150 x 150) + 22 = 135 + 22 = 157

MC > MR so B is correct.

Profit = TR - TC = 80(150) - 0.002(150)3 - 22(150) - 750 = 12000 - 10800 = 1200

Profit is positive.

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MR is Negative

3 0
3 years ago
Should Obama Care system be continued into the future ?? Yes or No and why ??
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I believe so considering an average of 20 million US citizens depend on it. Hope this helps.
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The managers in Julio's company sponsor monthly brainstorming sessions and reward employees with gift cards and recognition when
Evgesh-ka [11]

Answer:

Learning.

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In this scenario, the managers in Julio's company sponsor monthly brainstorming sessions and reward employees with gift cards and recognition when an out-of-the box idea leads to organizational improvements.

Hence, Julio's company is an example of a learning organization.

A learning organization is one which is typically characterized by creating an enabling environment for growth, training, and development of its employees. This opportunity and incentives help employees to engage in critical and creative thinking, research, and development. Consequently, employees would become more confident, brilliant, intelligent, knowledgeable and professionals in their assigned positions or roles, thus helping the organization to achieve its aim, goals and objectives.

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3 years ago
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