Answer:
c) is the same along both curves.
Explanation:
Two straight-line PPFs have the same vertical intercept, but curve I is flatter than curve II. The opportunity cost of producing the good on the horizontal axis is the same along both curves.
Answer:
d. 2,854.05 shares
Explanation:
$74,000/22,000 = [$74,000 − 128,000(.075)]/X
X = 19,145.94 shares
Shares repurchased = 22,000 − 19,145.94
Shares repurchased = 2,854.05 shares
Answer:
total perceived value of attending college is more than $58000
Explanation:
we have given that earning an after-tax salary of $23,000 per year
and cost of college to you = $35,000
as we know that here Opportunity cost is benefit foregone by choose one alternative over the another
so by economic decision making like choosing a job or going to college
we need to consider both explicit cost and Opportunity cost by job foregone
so i think attend the college
total value for attend college = $23,000 + $35,000 = $58000
because total perceived value of attending college is more than $58000
Answer:
Elastic
A heart valve for heart attack victims
Red bell peppers - least elastic
Vegetables - in between
Food - most elastic
less elastic
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Demand is inelastic if a small change in price has little or no effect on quantity demanded.
a good that is considered a necessity usually has a less elasticity of demand.
the more narrowly defined a good is, the less elastic demand is. for example, there are many substitutes for food because it is largely defined, so its elasticity of demand would be more elastic
in the short run, demand is usually less elastic because there is a short time to find suitable substitutes. but in the long run, consumers have enough time to find suitable substitutes so demand is usually more elastic