Answer and Explanation:
An increase in the number of firms increases the demand elasticity. As the demand elasticity increases from 2 to 3 it means you could encounter less demand if product prices are increased. At a demand elasticity of -3, it is regarded as inelastic demand and a change in price will not affect the demand for the product as customers are still likely to patronize the product example gasoline. Due to its high demand, an increase in price will not readily affect the demand for it. Therefore if you are to change the price from $10 at 2 to 3 demand elasticity increase, the percentage of increase from 2 to 3 is given as.
3-2/2 X 100 = 50%
The new charge (x) at -3 demand elasticity = 50%/3 = 0.66666666
The increase in the new charge is therefore $10 + $10x = $10 + $10(0.166666) = $11.67
Answer:
D. implies that, for most people, the marginal benefit of reading a second newspaper is less than the marginal cost
Explanation:
When marginal cost is greater than marginal benefit ,There's inefficiency. It is better for the consumer to stop consumption at this point.
I hope my answer helps you
B. A number of joins used in report query.
C. A number of records returned by report query.
Explanation:
A report on the results of something is a survey. These are generated annually by government bodies that have to prove that the money was spent correctly and accurately, funded by public money.
Such reports should include metrics of success that assess the organization's accomplishments and its services. The statistics that, for instance, show the number of arrests, number of convictions by category of crime and the increase in crime rates for a police department.
A research study that produces a correlation coefficient of -0.90 indicates <u>B.a strong negative</u> relationship between variables.
Explanation:
- Statistics divide in descriptive,predictive, inferences.
- Descriptive statistics is to describe the data.
- Predictive is to expect the future.
- Inference is to find the sample of conclusion or reasoning.
- In order to find a predictive model, 1st we need to apply.
- Association rule, One variable in relationship with other.
- Strong positive Correlation,No correlation, weak correlation, negative,
- weak negative correlation.
- 1.00 is strong correlation and -1.00 is negative correlation.
- Negative correlation means as y axis is increasing x axis is decreasing.
- Scatter plot is the best example to give positive or negative correlation.
- It is easier to create a trend line also.
Answer:
Since the average variable cost curve lies below the average total cost curve, this implies that the average variable cost is the lowest price at which the producer can sell.
If there is no possible output where the price would be at least equal to the average variable costs, the firm should cease production, because it is not going to recover its costs, not to talk about making a profit.
Explanation:
A firm's average variable cost is the total variable cost divided by the total output. For example, if the total variable cost for a particular product is $4,500 with a total output of 450 units, then the average variable cost is $10 ($4,500/450).