Answer:
-0.2; less elastic to price
Explanation:
Given that,
Percentage change in the price of gasoline = 5%
Percentage change in the quantity demanded = 1%
Therefore, the price elasticity of demand is as follows:
= Percentage change in the quantity demanded ÷ Percentage change in the price of gasoline
= (-1) ÷ 5
= -0.2
Hence, the demand for gasoline is less elastic to price because higher percentage change in prices will lead to lower percentage change in the quantity demanded.
Answer:
Explanation:
We are asked for Zbox production, so we ignore the raw materials information for this question.
We use the inventory identity to solve for production
September sales 222,000 units
desired ending inventory 24,000 units
total production need 246,000 units
(beginning inventory 35,000) units
Production requirement for September 211,000 units
The type of life policy that covers two people and pays upon the death of the last insured is the survivorship life policy, or, to be more precise, we are talking here about the Last Survivor Life Insurance.
If two or more people decide to pay for that type of insurance, once one of them dies, the other one will get the money from the deceased person's death. It is a good type of insurance for spouses, especially older ones, because the other person will be insured.
