Answer:
Their combined production should be 20 clothes and 12 wines.
Explanation:
<u>Argentina's opportunity cost to produce 1 unit of cloth = 0.1 wine</u>
Argentina's opportunity cost to produce 1 unit of wine = 10 clothes
Chile's opportunity cost to produce 1 unit of cloth = 0.5 wine
<u>Chile's opportunity cost to produce 1 unit of wine = 2 clothes</u>
Since Argentina' opportunity cost to produce clothes is lower, then it should specialize int he production of clothes. While Chile should specialize in the production of wine. Their combined production should be 20 clothes and 12 wines.
Answer:
creative
Explanation:
He could either be a humble, extroverted, born or creative leader. From these options the most intuitive answer would be that he is a creative leader given that he has introduced "breakthrough technologies" in the companies products which would only be possible through a great amount of initiative and creativity.
The term "breakthrough technologies" is the key word in answering this question as it refers to innovation that has never been seen before. Thus, it would require a great deal of creativity to think of and successfully introduce and implement into a company.
production for that product will increase.
Answer:
Let understand what elastic and inelastic demand is:
- If the small change in price causes heavy change in the quantity demanded then the demand is said to be elastic.
- Opposite to it is inelastic where even there is a very high change in the price but there is not so much effect on the quantity demanded.
Here, Camel cigarettes has a price elasticity of demand which is equal to 6 which means if the price suddenly increased, the quantity demanded will decrease. If any cigarette is having price elasticity of demand less than 2, it means it has less elasticity or if price increases very much then quantity demanded will not be affected so much.
