Price elasticity of demand measures how changes in price affect the quantity of product demanded. A good or service's price elasticity of demand is calculated by dividing percentage change in the amount sought by percentage change in the price.
The ratio of the percentage change in quantity supplied to the percentage change in price is price elasticity of supply. A good or service's price elasticity of demand is calculated by dividing percentage change in amount sought by the percentage change in price.
The ratio of percentage change in quantity supplied to percentage change in price is price elasticity of supply.
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Answer:
Suppose that for a particular firm the only variable input into the production process is labor and that output equals zero when no workers are hired. In addition, suppose that the average total cost when 5 units of output are produced is $60, and the marginal cost of the sixth unit of output is $120. What is the average total cost when six units are produced
Answer:
The answer is "$5500".
Explanation:
Analysis Differential:
Make Buy
Cost of variable 
Fixed- cost 
Purchasing cost 
Cost of opportunity 
Total relevant cost 
Increasing operating income 
Answer:
Options Include:
1. Years before Year 1 only.
2. Year 1 only.
3. Year 1 and years before and following Year 1.
<em>4. Year 1 and following years only. is Correct</em>
Explanation:
Prior cost of service is acknowledged whenever a contract is changed to provide added benefits for services previously received by workers.
The amortization of the prior service expense must be acknowledged as an element of the retirement cost during the future service periods of all those workers whom are active on the date of the plan modification and are entitled to receive rewards under the Scheme.
<em>Therefore, prior service costs are expressed throughout the financial statements for Year 1 once the plan was modified and even in the years that follow when it is amortized.</em>
Answer:
a. <u>user</u>; <u>original equipment manufacturer(OEM)</u>
Explanation:
Business markets refer to purchase and sale of products by businesses with one another. For example, output for one business might be used as an input for another.
A business would be termed as a user when it purchases goods from another business, wherein such goods are not directly used in the manufacturing or creation of it's products.
Original Equipment manufacturer refers to a business which buys certain products and subsequently incorporates them in an altogether newer product within it's brand name.
