Answer:
An elastic demand curve will result in higher social surplus. Social surplus equals consumer surplus plus supplier surplus, or simply total surplus. The highest possible social surplus is reached at the equilibrium point.
If a product's demand is completely inelastic, the supplier can increase the price at will, reducing consumer surplus to minimum levels. If a product's demand is completely elastic, then consumer surplus increases while supplier surplus is directly related to shifts in the demand. Higher demand increases supplier surplus.
This is an example of variation. The
coefficient of variation, also referred to as the Spearman coefficient of
variation, is a statistical measure that informs us about the relative dispersion
of a data set. Its calculation is obtained by dividing the standard deviation<span> between
the absolute value of the average of the set and it is usually expressed as a
percentage for its better understanding.</span>
<span>The fact that the Green Acres Fencing company differentiate the jobs and aspects of the company's work of the employees means that this type of organization reflects Fayol's
principle of division of labor. The term division of labor means </span><span>the separation of a work process into a number of tasks</span>
Some of the steps in creating a company include:
- Selecting a unique name.
- Making a financial plan and creation of a budget.
- Creation of vision and mission statement.
- Registration of the company with the government.
The advertising for the company would have to target an audience based on either demographics or income range or on the type of jobs they do that would require them to use your product.
The use of a marketing mix which includes the price, promotion, place, product, and people would be to make the best pricing available and also be in a strategic location, meeting the demand of people's needs.
<h3>What is Advertising?</h3>
This refers to the creation of public awareness for a particular brand of products or services to get them to buy.
Read more about advertising here:
brainly.com/question/25528284