If the price elasticity of demand is inelastic, then the incidence of tax will be greater on consumers, as producers can shift most of the tax on them by raising prices. Whereas if it was elastic, then it would be producers.
<span>Andy’s motivation for working so hard
is most likely the extrinsic motivation of a raise in his salary (money). </span><span>
Extrinsic motivation refers to the phenomenon
when behavior and actions are motivated by external factors, such as
rewards, fame or praise rather than intrinsic factors which lie within an individual (such as: improving one’s skills and work ethic or genuine interest in
the task or project at hand).
In Andy’s case, where he is working so hard in hopes for a
raise, he is externally motivated rather than internally motivated since he
hopes to be monetarily rewarded </span>(extrinsic factor)for his hard work.
Answer:
The correct answer is:
0.50 (B)
Explanation:
The Lerner index is used by monopolists to measure market/monopolist power, and it is defined as the percent markup of price over marginal cost.
It is given by the formula:
Note: in a perfectly competitive market, L = 0, which makes Price = Marginal cost in the equation above. But in a competitive market, it is always the case that L ≥ 0
Answer:
$7.5
Greater
Explanation:
Price elasticity of demand = percentage change in quantity demanded/ percentage change in price
0.2 = 10%/ percentage change in price
percentage change in quantity demanded = 50% = 0.5
0.5 = (New price - $5) / $5
New price = (5 × 0.5) + 5 = $7.5
In the short run, demand is relatively inelastic because consumers need time to find suitable substitutes but in the long run, demand is usually more elastic.
I hope my answer helps you
I believe it would be capital. You have to invest in the jewels to complete the cases.
