Answer:
Real GDP per capita is a measurement of the total economic output of a country divided by the number of people and adjusted for inflation.
Explanation:
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Answer:
<em>A. There is not a relationship between the parties. Broker Carr represents the Seller and Broker Smith represents the Buyer. is Correct.</em>
B. customer
C. agency
D. dual agency
Explanation:
Because each agent embodies separate sides of the mortgage, there is no relation.
A transaction broker offers a specific sort of representation in a financial transaction to a buyer, seller or both, but does not serve either as a fiduciary or as a single agent.
Answer:
If the elasticity of demand of golf balls sold in the US is -0.4, the new equilibrium price will be -37.5% less price
Explanation:
In order to calculate the new equilibrium price If the elasticity of demand of golf balls sold in the US is -0.4 we would have to use the following formula:
Price elasticity of demand= percentage change in quantity demanded /percentage change in price of the good
According to the given data we have the following:
Price elasticity of demand=-0.4
percentage change in quantity demanded=15%
Therefore, -0.4=15%/percentage change in price of the good
percentage change in price of the good=15%/-04
percentage change in price of the good=-37.5%
Therefore, If the elasticity of demand of golf balls sold in the US is -0.4, the new equilibrium price will be -37.5% less price
Answer:
when the buyer operates in an industry where products are undifferentiated
Explanation:
When a buyer can switch easily between suppliers and the goods are similar (not differentiated), then the buyer has higher bargaining power. The smaller the number of buyers, the more bargaining power they will have. A monopsony is the extreme case where one large buyer controls the market, e.g. a large factory in a small town can set the wages of its employees.