Answer:
Price Inelastic
Explanation:
Public transport systems are a necessity which consumers are unable to do away with easily. Therefore when prices are raised consumer habits remain the same. Inelastic refers to unchanging consumer habit even when prices change.
The costs that are clearly associated with specific units or batches of product is called: Direct labor.
<h3>What is direct labor?</h3>
Direct labor are wages and salaries paid to workers whose work can be traced directly to specific products or services. They are wages incurred in order to produce goods or provide services to customers.
Example of direct labor include:
- Assemblers
- Welders
- Painters
Hence, labor costs that are clearly associated with specific units or batches of product because the labor is used to convert raw materials into finished products are called direct labor.
Learn more about direct labor here: brainly.com/question/26371102
Answer:
insurance company will pay $75 to Alfred.
Explanation:
given data
Actual cost of camera = $200
Alfred cost of camera = $150
Life expectancy = 6 years
solution
we get here first Remain life of camera that is
Remain life of camera = 6 years - 3 years
Remain life of camera = 3 years
and
now we get here current cost of the camera that is
current cost of camera = Alfred cost of camera × (Remain life of camera ÷ Life expectancy) ........................1
put here value and we get
Current cost of camera = $150 ×
Current cost of camera = $75
so that insurance company will pay $75 to Alfred.
Answer:
A
Explanation:
When we have more students that enjoy studying history than enjoy studying math and science needed to get a degree in Chemical engineering , this will lead to a large no of history graduates in the labor market making the availability of chemical engineers graduate to be fewer and the demand for it higher.
This in effect cause a higher income for the chemical engineers as they become more of a scarce resources compared to history despite the students spending the same number of years to graduate in the college.