Their is no profit because customer do not need it
Answer:
elastic.
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
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.
If demand is elastic and price is decreased, quantity demanded would increase. The increase in quantity demanded would be greater than the decrease in demand and this would lead to an increase in revenue.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.
Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases
Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.
Answer:
The answer is: $0.15
Explanation:
In a perfectly competitive industry, the price of a good or service is always equal to the marginal revenue for the suppliers. In this case, the price for candy canes is $0.10.
If the price of candy canes' inputs increases by $0.05, then the new price of candy canes will be $0.15 ($0.10 + $0.05).
Answer:
The correct answer is letter "B": ERISA.
Explanation:
The Employee Retirement Income Security Act (<em>ERISA</em>) of 1974 is a United States federal law governing health insurance in regards f how they should be provided by employers. Through different amendments, the ERISA has given provisions under different circumstances so employees can have the coverage of health insurance for a certain period after being laid off.