The price elasticity of supply for a good is 3 if a 1% decrease in price leads to a 3% decrease in quantity supplied.
<h3><u>
Explanation:</u></h3>
The measure of the response that a supply for goods and services shows after the modification of prices refers to the Price elasticity. When the price of any goods or services increases there will be a rise in the supply of goods and services. When the prices of any goods or services decreases then the supply of those goods and services will also decrease.
Price elasticity also measures the demand that a product or services has based on the modification of the price. When the product tends to be affected by the price changes it is said to be elastic. When it is not responding to the prices of the product the n these are said to be inelastic. In the given example the price elasticity of the supply of a good is said to be 3% and if a 1% decrease in price leads to a 3% decrease in quantity supplied.
<u><em>Explanation</em></u>:
The terms being socially responsible and having sustainability can be evident in Campbell's and the Food bank of South New jersey when these organisations <u>give back to the communities of their consumers while also protecting their immediate environment, </u>thus shows that they are socially responsible and are promoting sustainability.
Answer:
Word of Mouth
Explanation:
As per the question company is enjoying its own business with the help of satisfied customers and customers are sharing their experience with the company because the Choco Central is a branded company and whoever (customer) is enjoying the brand tells their family, friends, and their relatives. So, automatically the company publicity is on top with the help of satisfied customers and providing the premium quality.
Therefore, the advertisement of the Choco Central is getting publicity from the customers through word of mouth.
Answer:
The utility received from consuming one unit of a good
Explanation:
Marginal utility refers to the additional satisfaction that a consumer will obtain from consuming additional units of goods or services.
Marginal utility is utilized by economists to identify and check how much of a particular item a consumer is willing and ready to buy.
Marginal utility is calculated as:
change in total utility/ change in the number of goods consumed.
Answer:
the answer is C. a legal entity of people who share a common mission.
