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SSSSS [86.1K]
3 years ago
5

The difference between price elasticity of demand and income elasticity of demand is that A. income elasticity measures the resp

onsiveness of income to changes in supply while price elasticity of demand measures the responsiveness of demand to a change in price. B. income elasticity refers to a horizontal shift of the demand curve while price elasticity of demand refers to a movement along the demand curve. C. income elasticity refers to the movement along the demand curve while price elasticity refers to a vertical shift of the demand curve. D. income elasticity of demand examines how an​ individual's income changes when prices change and the price elasticity of demand examines how quantity demand changes when price changes.
Business
1 answer:
nikdorinn [45]3 years ago
6 0

Answer:

The difference between price elasticity of demand and income elasticity of demand is that income elasticity of demand examines how an​ individual's income changes when prices change and the price elasticity of demand examines how quantity demand changes when price changes.

Income elasticity of demand is the measures of the demand of a good or a service in response to the change in income. Whereas the price elasticity of demand refers to the change in the desire to buy a product with an increase in its price.

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On January 2, 2017, the board of directors of Michael declared a 10% stock dividend to be distributed on February 15, 2017. The
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the decrease in the value of the retained earning is $172,500

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The computation of the decrease in the value of the retained earning is given below:

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2 years ago
When input costs increase
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There is a movement up along an existing supply curve
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3 years ago
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The price elasticity supply of doctors could be considered ________ because it takes a minimum of four to six years of training
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The price elasticity supply of doctors could be considered relatively inelastic because it takes a minimum of four to six years of training to be able to work as a physician.

<h3>What is supply?</h3>

Supply can be defined as the part of a commodity or a service that is being placed in the market for the consumer to buy.

The price elasticity supply of the doctor will increase after their education, but the price will not be that much efficient as it produces relatively less elasticity.

The proportion variation inside a commodity's currency values in a substantially lower proportion variation in the amount desired.

Learn more about Supply, here:

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7 0
1 year ago
Mattice Corporation is considering investing $720,000 in a project. The life of the project would be 11 years. The project would
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Answer:

The Project should be rejected.

The Net present value is lower than zero. Meaning the returns on the investment yields a loss, as we are not able to cover our initial investments.

Explanation:

The Present value of the inflow and outflow should be considered before deciding the viability of the project.

Using the Net Present Value approach, we will want to consider against the outflows and at a certain cost of capital/rate of return if this projects meets at least the minimum threshold of breaking even. At this point the net cash flow would be at least zero for the project to be accepted.

Kindly review the document attached for detailed workings.

3 0
3 years ago
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