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Sergeu [11.5K]
3 years ago
6

using standard economic theory scientific superconductors should continue hiring workers until: a. MPL x P = demand b. the quant

ity of labor supplied = the quantity of labor demand c. MP x P = wage d. MPL x W = P
Business
1 answer:
rosijanka [135]3 years ago
6 0
Jcjicjjsjfjfjfjdiidizod
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Which statement indicates the impact of globalization on the African farming community?
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The statement that indicates the impact of the Globalization on the African farming community is use of modern methods of farming increased the crop production of the people.

<h3>What is Globalization?</h3>

Globalization is a term which refers to the interconnection and interaction of the economy with that of the world's economy. It involves the exchange of the knowledge, trade, technology and even people.

The complete image of the question is attached below.

The African farmers faced many challenges but still they are graced with a very appropriate soil type, which has been aided by modern irrigation practices, fertilizers.

Many of the international aggro-processing company that set up factory near the village in the hopes of obtaining easy and cheap labor. As a result of these factors, people's crop production has increased dramatically.

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Select all that apply. Which of the following items demonstrate poor choices made by private property owners?
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Rain spoils the strawberry​ crop, the price of strawberries rises from ​$2 to ​$4 a​ box, and the quantity demanded decreases fr
Veseljchak [2.6K]

Answer:

a. Price elasticity of demand is 3.5.

b. Demand for strawberries elastic.

Explanation:

a. Calculate the price elasticity of demand over this price range.

Price elasticity of demand can be calculated as the percentage change in price divided by percentage change in quantity demanded.

We can therefore proceed as follows:

Percentage change in price = [(4 - 2) ÷ 2] × 100 = 100%

Percentage change in quantity demanded = [(1,400 - 1,000) ÷ 1,400] × 100 = 28.57%

Price elasticity of demand = 100% ÷ 28.57% = 3.5

Therefore, the price elasticity of demand over this price range is 3.5.

b. Describe the demand for strawberries.

Since the calculated price elasticity of demand of 3.5 is greater 1, this implies that demand for strawberries elastic. That is, customers are sensitive and more responsive to the change in price of strawberries.  

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