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sasho [114]
3 years ago
5

I have 9 cowry shells. If a dozen eggs (12 eggs) cost 2 cowry shells, how many dozens can I purchase?

Business
1 answer:
Phantasy [73]3 years ago
4 0

Answer:

B. 4 doz  

Explanation:

\text{Amount of eggs}= \text{9 cowry shells} \times \dfrac{\text{1 doz eggs}}{\text{2 cowry shells}} = \text{ 4.5 doz eggs}

"They" won't let you buy a fraction of a dozen, so you can afford to buy only 4 doz eggs.

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Explanation:

External factors: Nature of the market and demand

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  • In a pure monopoly: a market formed by a single supplier, unregulated monopolies have the freedom to set their prices, however they do not take advantage of them for several reasons, not to attract competition, fear of regulation and to penetrate the market.
  • Demand curve: curve that shows the number of units that the market will buy in a specific period at the different prices that could be charged.
  • Price elasticity: Measurement of the sensitivity of demand between changes in the price. It is obtained with the following formula: Elasticity of demand with respect to price = percentage of change in the amount of demand Percentage of change in price
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