Answer:
c. total revenue does not change.
Explanation:
A price elasticity of demand can be defined as a measure of the responsiveness of the quantity of a product demanded with respect to a change in price of the product, all things being equal.
Mathematically, the price elasticity of demand is given by the formula;
The demand for goods is said to be elastic, when the quantity of goods demanded by consumers with respect to change in price is very large. Thus, the more easily a consumer can switch to a substitute product in relation to change in price, the greater the elasticity of demand.
Generally, consumers would like to be buy a product as its price falls or become inexpensive.
For substitute products (goods), the price elasticity of demand is always positive because the demand of a product increases when the price of its close substitute (alternative) increases.
If the price elasticity of demand for a product equals 1, as its price rises the total revenue does not change because the demand is unit elastic.
Answer:
collaborating
Explanation:
A mix of being cooperative and assertive that means those who want to do collaboration for attempting the work with other in identifyig the solution that satisfied fullly for each and everyone concern
Since rosa wants that everyone needs could be met out
So this represent the collaboration
The same should be relevant
Answer:
A safety protection clause in a listing agreement entitles the real estate broker or agent to a commission after the listing expires or is canceled. This applies when the final buyer was brought to the deal by the broker.
Answer:
When Patricia sells her Apple stock at the same time that Brian purchases the same amount of Apple stock, Apple receives:_____________.
a. nothing.
Explanation:
The activities of investors on the Stock Exchange market do not affect the corporation, whose stocks are being traded. The corporation does not get any money nor does it incur any cost. Patricia may get a capital gain from the sale and not the corporation. When Brian purchases Apple stock it is purchased from another investor and not directly from the corporation unless it is an initial public offer.
Answer:
B. -0.0242.
Explanation:
Demand function equation
Qod = 3 - 0.05Po + 0.009I - 0.16pt
Po = Price per pound of onion
Pt = Price per pound of tomato
I = Household income
Putting values in the equation
Qod = 3 - (0.05 x 1.25) + (0.009 x 2,500) - 0.16 x 3.75
Qod = 3 - 0.0625 + 22.5 -0.6
Qod = 24.8375
Cross price elasticity of demand = (ΔQod/ΔPt) x (Pt/Qod)
Cross price elasticity of demand = -0.16 x (3.75/24.8375)
Cross price elasticity of demand = -0.0242
Ratio of Change in demand by change in price is -0.16pt as given in the equation for tomato and - 0.05Po for onion.