Answer:
The answer is: C) 2.5 and producers are very responsive to the price change.
Explanation:
The price elasticity of supply refers to what percentage does the quantity supplied change when the price of the good changes in 1%. It is calculated using the following formula:
- price elasticity = % change in quantity supplied / % change in price
Price elasticity of supply of tablets = 20% / 8% = 2.5
For every 1% that the price increases, the quantity supplied will increase by 2.5%.
Since PES > 1, the supply is very price elastic.
Answer:
(A) market saturation
Explanation:
A franchisee starts a new franchise by entering into a franchising agreement with a franchiser to use its brand name and sell its products. The biggest challenge faced by this new franchise is market saturation.
This occurs because<u> the presence of other similar businesses, whether franchises or independently owned businesses in the market, creates lots of competition for the new franchise.</u>
Answer:
C. Citizens have more wants than they can fulfill with their available resources.
Explanation:
Correct for APEX
Answer:
The correct answer is: price must rise, but equilibrium quantity may rise, fall, or remain unchanged.
Explanation:
If the supply of a product decreases the supply curve will shift to the left. At the same time, if there is an increase in demand, the demand curve will move to the right. This simultaneous shift in both demand and supply will lead to an increase in the price of the product.
The change in the quantity demanded will depend on the extent of change in demand and supply.
If both changes by the same proportion the equilibrium quantity will remain the same. If demand increases more than the decrease in supply the equilibrium quantity will increase. If the demand increases less than decrease in supply, the equilibrium quantity will fall.
<span>Allowing the employees to have time off. This is good for both mental and physical fatigue on the roofers. Working non-stop can lead to you be less careful and will result in an increased amount of injuries.</span>
