Answer:
The corresponding price elasticity of demand is -2.00.
Explanation:
The price elasticity of demand is obtained by differentiating the demand equation with respect to the average annual tuition fees (p).
The demand equation is q = 9,900 - 2p
Differentiating q with respect to p
dq/dp = -2 (differentiation of a constant is 0)
Therefore, the price elasticity of demand is -2.00.
Answer:
The increase in cost is $300,000.
Explanation:
The marginal cost function (C'(x)) is:
For 0≤ x ≤ 900.
Integrating the marginal cost function and evaluating it in the interval of 300 to 900 bikes, gives us the increase in cost of going from a production level of 300 bikes per month to 900 bikes per month:
The increase in cost is $300,000.
Answer:
have a higher labor-to-land ratio than its imports from Honduras
Explanation:
The factor proportions theory (or Heckscher-Ohlin model) of trade states that countries will export the goods which they can produce using their abundant factors of production. For example, countries like Japan that have abundance of labor force and capital, but very little land, will produce and export industrial goods that require a lot of labor and capital. On the other hand, countries like Argentina which have abundant labor and land, will export agricultural products.
in this case, El Salvador compared to Honduras has abundant labor, so the products that El Salvador exports to Honduras will have a higher labor-to-land due to the abundance of labor.
Answer:
The correct answer is 2
Explanation:
Information system is the system which aims to support the operations, decision making and management of the organization. The system of organization is created or established in order to process, store, collect as well as distribute the information.
Organizations are those who uses the information system.
So, the interaction among the organizations and information system is the complex procedure, involve two way relationship which is mediated through factors like the structure of organization and environment.
Answer:
It means that it produces less than the output at which the average total cost is minimized
