An entrepreneur is a person who combines the other factors of production - land, labor, and capital - to earn a profit.
Answer:
No
Explanation:
Given the information in the scenario, it is not surprising that the company’s revenue increased when it decreased the average selling price of its phones.
Firstly, it is a general conclusion of the law of demand that more quantity will be demanded at a lower price. Hence the reduction in price has increased the quantity demanded of phones and hence the revenue.
Secondly, it is a function of income elasticity of demand. Generally, phones would seem to be a luxury good whose demand will increased with increase in income. However with the drop in price consumers were able to buy more at a given level of income because it technically implied that their purchasing power has increased.
NN is more elastic between points A and D than curve MM is between points A and C. True.
Between points A and D, curve NN is inelastic. True.
Between points A and E, curve OO is perfectly elastic. True.
<u>Explanation:</u>
In Economics, elasticity is the estimation of the relative difference in a monetary variable because of an adjustment in another. It shows how simple it is for the provider and buyer to change their conduct and substitute another great, the quality of a motivating force over decisions per the relative open door cost.
Elasticity of demanded quantifies how the measure of good changes when its cost goes up or down. Flexibility is a proportion of the affectability of factors to a modification in another variable.
Answer:
The option which is an example of a debt funding source can be banks, credit unions, or any external lender.
Explanation:
- Debt funding is when a company raises money by marketing bonds, bills and notes, etc. to the investors
- It differs from equity financing which is selling shares of the company.
- Debt funding must be paid back at an previously agreed date.
- If the business goes under, then the lenders have more rights on the property that will be liquidated than the share holders.