Small number is three and large number is four
Answer:
Demand drops to zero
Explanation:
Infinite elasticity of demand is also called perfect elasticity of demand.
In this scenario the demand for a product is attached to it's price.
There is an infinite change in the quantity demanded as a result of change in price.
Graphically it is a horizontal demand curve as represented in the attached
Even a small increase in price will cause demand to fall to zero.
Examples are luxury goods such as high end cars and expensive jewelry.
Answer:
D
Explanation:
Based on the information provided within the question it can be said that the one exception to the broker being entitled to his/her commission would be If a contract is contingent upon the buyer obtaining financing and the buyer is unable to do so. This is because in this scenario if the buyer does not obtain the financing needed he is therefore unable to buy the property and the contract will become void.
Answer:
b. 7.28%
Explanation:
This question is asking for the yield to maturity(YTM) of the bond. You can solve this using a financial calculator with the inputs below. Additionally, adjust the coupon payment(PMT) and time to maturity(N) to semiannual basis.
Time to maturity; N = 5*2 = 10
Face value; FV = 1000
Price of bond; PV = -1071
Semiannual coupon payment; PMT = (9%/2) *1000 = 45
then compute semiannual interest rate; CPT I/Y = 3.64%
Next, convert the semiannual rate to annual rate(YTM) = 3.64% *2
YTM = 7.28%
