Consumers make that affect the decisions of the suppliers.
We can conclude that labor demand is unit elastic.
<h3>What is unit elastic demand for labor?</h3>
The elasticity of demand for labor measures how the quantity of labor demanded when there is a change in the wages of labor. The the elasticity of demad is unit elastic, it means that when the ratio of the percentage change in quantity demanded to the percentage change in wage is 1.
The elasticity of demand for labor = percentage change in quantity of labor demanded / percentage change in wages
10% / 10% = 1
Here are the options:
labor demand is highly elastic.
the coefficient of labor demand elasticity is less than 1.
labor demand is unit-elastic
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Modeling is the analytics feature relies on machine learning for measuring conversions that can't be spotted through direct observation.
<h3>What do analytics mean in everyday language?</h3>
Analytics is a subfield of computer science that employs mathematics, statistics, and machine learning to find meaningful patterns in data. The process of sifting through massive data sets to discover, comprehend, and disseminate new information is known as analytics, also referred to as data analytics.
<h3>What is the definition of "analytics"?</h3>
Data analytics is the process of examining data sets to spot trends and draw conclusions about the information they contain. More and more often, data analytics is done with specialized hardware and software.
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<u>Explanation:</u>
a. Formerly, these manufacturers have to provide storage space to display their inventory of mattresses, however, online retail sellers have taken up this activity by holding the various sizes of the available inventory, and then simply display them on photos/videos on their website.
b. No. The decision to purchase a car direct from the manufacturer without seeing the product in person or testing the product isn't the most preferred option for many, however, an expensive refrigerator could be purchased without seeing or testing it out. Usually, the following factors are considered:
- Would this product match the description stated?
- Would the cost of return be worth it if there happens to be a problem with the product?
Answer:
Equivalent units for the month = 18,720
Explanation:
Provided that
Opening units of work in process = 3,080 units
Which are 100% complete to materials as the materials are added fully initially.
Completed and transferred during the period = 19,400
Since not provided assumed these are added during the period, and includes opening work in process.
Closing Work in process = 2,400 units.
For the period equivalent units = During the month + Closing - Opening
= 19,400 + 2,400 - 3,080 = 18,720 units
