Answer:
The correct answer is a).
Explanation:
The income elasticity of demand refers to the percentual variation of quantity demanded of a certaing good in response to a percentual variation in income.
If the income elasticity of demand for medical care is 1.35,
<em>a. if income decreases by 1%, the quantity demanded for medical care decreases by 1.35%.</em> TRUE, this is what the definition implies.
<em>b. if the price of medical care increases by 1%, the quantity demanded for medical care decreases by 1.35%. </em>FALSE. In this elasticity, the sign is relevant. This income elasticity implies that changes in income and medical care expenses have the same sign.
<em>c. if the income of the average consumer increases by 1 dollar, the quantity demanded for medical care will increase by 1.35 units of care.</em> FALSE. The elasticity relates percentual variations, not absolute value variations.
<em>d. if income increases by 1%, the quantity demanded for medical care decreases by 1.35%.</em> FALSE. The same as point b.
Answer:
d. Supply is perfectly elastic.
Explanation:
Perfectly elastic supply is when a change in price causes supply to fall to zero.
The supply curve is usually an horizontal line.
I hope my answer helps you
Answer:
The types of office etiquette:
1) Workplace etiquette
2) Table manners and meal etiquette
3) Professionalism
4) Communication etiquette
5) Meetings etiquette
Based on the bid quote given on the Canadian dollar, and the bid-ask spread, the ask rate would be $1.15.
<h3>What is the ask rate?</h3>
When given the bid-ask spread and the bid quote, the ask rate is:
= Bid quote x ( 1 + bid-ask spread)
Solving gives:
= 1.1448 x (1 + 0.5%)
= 1.1448 x 1.005
= 1.150524
= $1.15 2 d.p.
Find out more on the ask rate at brainly.com/question/13185509.
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<h2>Solan Inc. has a(n) <u>market </u>organizational culture.</h2>
Explanation:
- The given terms like productivity, planning and efficiency is too close to marketing.
- We can call the term marketing as "Sales" too. The marketing is the main source of revenue.
- Without business no industry can survive.
- Marketing is one of the major department, who actually bring business and thus reaching the organizational objectives.
- Productivity is one such important characteristics of market. This term is closely associated with a term called "target".
- Employees are expected to reach target to keep up the business.
