The reason that the elasticity of demand is 0.62 for business and 0.12 for economy is because the economy class is more elastic than that of the business.
When the flight ticket of those flying business class is raised, they would not be affected much because they are rich and can afford it. They do not care much about the raise in price.
For the average flyer using the economy flight, raising the price of the ticket would affect him and he may end up reducing his demand for it.
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Answer:
(A) True
Explanation:
Differential cost is the difference between the cost to produce Product O and produce Product P; in this case it’s the additional cost of $13 per pound to produce
So the statement “The differential cost of producing Product P is $13 per pound” is true
The internet corporation for assigned names and numbers uses companies named accredited domain name registrars to handle the business of registering domain names. In addition, cloud computing denotes to a computing setting where software and storage are delivered as an internet service and get into with a web browser.
Answer: increase by $80 million, and the maximum money-lending potential of the commercial banking system will increase by $400 million
Explanation:
Based on the information given in the question, the money multiplier will be calculated thus:
Money multiplier = 1/Required reserve ratio
where,
Required reserve ratio = 20%
Money Multiplier will now be:
= 1/0.20
= 5
Therefore, the maximum money-lending potential will be:
= $80 million × 5
= $400 million
Therefore, the money supply will by $80 million, and the maximum money-lending potential of the commercial banking system will increase by $400 million
Answer: Integrity
Explanation: Integrity in Sales is valuable trait which is being consistently honest, trustworthy and dependable with everything you say or do.People especially Sales men and women who show integrity tend to pull others to them because they are honest, trustworthy and dependable.
You can always vouch on them to behave in credible ways at all times. They are so principled about their performance. They are the best kind of workforce you want in your team.
