The answer to this question is Elastic An elastic product is the type of product which demand will be influenced by movement in prices. For product like cloud computing, the product could be considered more durable because it willl always stay needed and will not go rotten, so the movement in prices shouldn't necessarily affect them that much.
The time in which the employee are free or not working due to halt in operation or a process. The employee are ready for work in this time and waiting for operation to start.
According to the given data
Total observations = 45 observations
Number of observation that found loader idle = 6 observations
Percentage of idle time is the ratio of number of times labor found idle to total numbers of observations.
Estimated percentage of idle time = (6 / 45) x 100
demand curves don't reflect consumers' full willingness to pay for a good or service.
Explanation:
The market failure with regard to the demand curve arise at the time when the demand curve does not show the full willingness of the consumer for paying to purchase a good or taking any kind of service
Also the market failure is the situation where the distribution of the goods or services via free market is inefficient.
