For produced goods, supply is typically more elastic over the long term compared to the short term because it is generally believed that over the long term, all production factors can be used to increase supply, whereas over the short term, only labor can be increased and even then, changes may be prohibitively expensive.
Because consumers don't have time to look for alternatives, demand is typically more price inelastic in the short term. Consumers eventually grow more aware of their options. The responsiveness of demand to a change in price is measured by price elasticity of demand. Electricity demand's price elasticity is higher over the long term and lower over the short term.
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Answer: (C) Data mining
Explanation:
The data mining is one of the process that is specifically used for extracting the necessary data or information from the given raw data system and it specifically uses the mathematical analysis for driving the various types of patterns.
The data mining is also known as the knowledge discovering tool that is used for extracting the knowledge from the give data in an organization.
According to the given question, the Frito-lay market is using the data mining method for analyzing the lathe history from the given database. Therefore, Option (C) is correct answer.
Answer:
$45.47
Explanation:
Data provided as per the given question below:-
Stock's Current Price = $35.25
Growth rate = 5.25%
Years = 5
The computation of stock's expected price is shown below:-
Stock's expected price = Stock's Current Price × (1 + growth rate)^5
= $35.25 × (1 + 5.25%)^5
= $35.25 × (1.0525)^5
= $35.25 × 1.29
= $45.47
Answer: technological discovery; economic dislocation
Explanation:
In the scenario described, Karen had spotted an entrepreneurial opportunity that was created by the new extraction technique, or a technological discovery. When there's a technological discovery, there will be new opportunities for people.
The technological discovery created an oil boom or an economic dislocation. When there's a change in economic conditions as a result of displacement of some workers, we say the affected people have been dislocated from the affected economy, in terms of employment.
