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blagie [28]
3 years ago
14

What do you consider to be the advantages of the numerical values? What do you consider to be the advantages of the visual repre

sentations? Which do you prefer working with, and why?
Mathematics
1 answer:
noname [10]3 years ago
7 0
For these models there are methods such as the perturbation method which can<span> be used to find an approximate analytical solution within a certain range. The </span>advantage<span> here over a </span>numerical<span> solution is that </span>you<span> end up with an equation (</span><span>instead of just a long list of numbers) which </span>you can<span> gain some insight from.</span>
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How do you do this question?
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Answer: B) Demand will most likely be elastic

Place yourself in the shoes of the employer. To them, demand is them needing/wanting workers. Specifically we call this "labor demand". The supply is the potential or current worker providing the service and/or making the product.

If the price goes up, then this means the worker earns higher wages. This in turn causes labor demand to fall. So the employer will be less likely to hire more workers if the wages increase. It's similar to how if the price of an item goes up in a store, then less people are probably going to buy it.

Demand is elastic because a small change in price causes a large change in demand. The company is going to be sensitive to wage changes. The company sees that it is approaching the diminishing returns, so it is likely to scale back on labor to save costs. It's all about trying to minimize costs and maximize revenue. Often, revenues can't be changed very much since customers are themselves sensitive to price changes (assuming there are substitutes in the market), so the company will turn to trying to reduce costs as much as possible leading to maximum profit.

3 0
2 years ago
carey is trying to decide between two guitars. the first had an original price of $160, but is on sale for $100. the second had
MrMuchimi
To determine the percent change in price, solve for the differences between the original prices and the sale prices. Then, divide the difference by the original price and multiply by 100%.

Guitar 1:       (($160 - $100) / $160) x 100% = 37.5%
Guitar 2:       (($250 - $150) / $250) x 100% = 40%

Thus, guitar 2 has a greater percent change in price.
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3 years ago
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