Answer:
The price elasticity of demand for home heating oil is-0.36
Explanation:
In order to calculate the price elasticity of demand for home heating oil we would have to use the following formula:
Elasticity of demand = (dQ/dPhho)*(P/Q)
According to the given data we have the following:
demand for home heating oil in Connecticut=Q = 20 – 2 Phho + 0.5 Png – TEMP
current price of home heating oil=$1.20
current price of natural gas =$2.0
Therefore, if Q = 20 – 2 Phho + 0.5 Png – TEMP, then:
Q=20 – 2*1.2 + .5*2 – 12
Q=6.6
Therefore, price elasticity of demand = (-2)*(1.2/6.6)
price elasticity of demand =-0.36
The price elasticity of demand for home heating oil is-0.36
Answer:
Yes
Explanation:
It will allow the company to understand key areas of improvement to make the work environment the best it can be for the people who work there.
Answer:
A life insurance policy.
Explanation:
An assignment or collateral assignment is a type of guarantee for the lender. the most used is a life insurance policy that will cover the payments of the debt to the lender if Harry fails to pay.
The marginal propensity to consume tells us by how much consumption expenditure changes when disposable income changes.
<h3>What is marginal propensity?</h3>
In economics, the marginal propensity to consume (MPC) is defined as the proportion of an aggregate raise in pay that a consumer spends on the consumption of goods and services, as opposed to saving it.
<h3>What is the MPC and MPS?</h3>
Key Takeaways. The marginal propensity to save (MPS) is the portion of each extra dollar of a household's income that's saved. MPC is the portion of each extra dollar of a household's income that is consumed or spent.
Learn more about marginal propensity here:
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Answer:
The correct answer is option B.
Explanation:
The market for oranges is perfectly competitive. An increase in the demand for oranges will cause the demand curve to move to the right. This rightward shift in the demand curve will cause the equilibrium price and quantity to increase.
At higher price, the producers will supply more oranges, because they will earn more profits. The supply of product is positively related to its price. So at higher price of oranges, more quantity will be supplied.
