Answer:
The correct answer is letter "C": the price rises and demand is elastic.
Explanation:
Price elasticity of demand describes the relationship between changes in quantity demanded and prices. It is calculated by dividing the percentage change in quantity demanded by the percentage change in price. If the result is equal to or greater than 1, the demand is elastic. This means <em>in front of relatively small changes in price, major changes in quantity demanded will occur.
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Therefore,<em> if a good or service increases in price being the product inelastic, the quantity demanded is likely to drop (demand law) implying the producers' revenue will be decreased.</em>
Answer:
Is this one of the people that give free points?
Answer:
Explanation:
1. No effect. The GDP is the total value of goods and services produced in a country in a specific period of time. If we are talking about US GDP, the purchase of a Belgium chocolate would not affect it.
2. Effect on investment. In spite Honda is a Japanese enterprise, it is producing in the United States. The GDP, is the value of all goods and services produced in country.
3. Effect on investment. Purchase of new housing affects the count of investment (not consume).
4. Affects consume. Because the air-conditioner was produced in the US.
5. Affects consume. They paid an accountant for a service produced in the U.S
6. Effect in government expenses. The salary for these workers is paid by the government, specifically the subdivision of New York.
7. Effect in government expenses. These economic benefits are paid by the government and no other private entities.
Answer:
The answer is letter A.
Explanation:
No, because the relevant cost of the new machine is $10,000 more than the cost of the old machine.
