Since at least 1995 the majority
of increases in United States real Gross domestic product (GDP) are from Productivity
growth. Productivity growth is determined by measuring the rate of output per
unit of input (comparing the amount of goods and services produced with the
inputs which were used in the production).
The correct answer is 2.4.
The simplest way to define elasticity of demand is by using the following formula:
Elasticity of Demand = Change in Demand / Change in Prices
Then, in our question we have:
Demand Elasticity = 12% / 5% = 2.4
Why is it called elasticity of demand?
An elastic product is one in which demand significantly shifts in reaction to price fluctuations. In other words, the product's demand point has expanded significantly from its earlier point. It is inelastic if the amount purchased fluctuates little when the price of the good or service changes.
What Does elasticity of demand tells us?
It reveals how much the quantity needed alters in response to pricing changes made by the company. The price elasticity of demand explains how the amount sought in the market changes when the price changes if we are evaluating a market demand curve.
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Answer:
Nationalized
Explanation:
Mixed economies is the economy which is described as the economic system that blends the elements of the market economies with the planned economies elements. It is also stated as the free markets with the state interventionism or with private enterprise with the public enterprise.
Nationalized is the process or procedure for transforming the private assets into the public assets through bringing them under the ownership of public of the national state or government.
So, when government tend to take the state ownership, they are said to be nationalized.
Answer:
374
Explanation:
Data provided in the question:
Market shares of top six firms
10%, 8%, 8%, 5%, 5%, and 4%
Market shares of 20 firms = 2%
Now,
Herfindahl index = ∑[(Market share percentage of each of firms)² ]
or
Herfindahl index
= ∑[(Market share of each of top six firms)² ] + [20 × (market share of each remaining firm)²]
Herfindahl index = (10)² + (8)² + (8)² + (5)² + (5)² + (4)² + [20 × (2)²]
or
Herfindahl index = 100 + 64 + 64 + 25 + 25 + 16 + 80
or
Herfindahl index = 374
The herfindahl index for this industry is 374.