Answer:
The correct answer is option D.
Explanation:
The equilibrium price of a pound of bacon is $3.50.
In order to protect the consumers, the government imposes a binding price ceiling of $1.50.
This price ceiling will create a shortage of bacon or an excess demand for bacon in the market.
Because of the law of demand and law of supply, at price lower than the equilibrium price, the quantity demanded will be higher while the quantity supplied will be lower.
This difference between quantity demanded and quantity supplied will create an excess demand in the market.
Trust, responsibility, and hardworking.
Answer: A: remain constant on a per-unit basis but change in total based on activity level
Explanation: A Variable cost is a cost an organisation incurs that is affected by fluctuations in production and so changes between given periods.
variable costs are not consistent but fluctuates in relation to the production activity of an organisation. Variable costs increases as production level increases and vise versa.
Costs associated with variable costs are those that contribute directly to the goods or service being offered by a business and therefore differ from period to period.
The total costs a company incurs are divided into Variable costs and Fixed costs. variable costs are costs incurred on raw materials, commission, labour, packaging and shipping while fixed costs are costs incurred on rent, salaries, repairs and maintenance, electricity etc.
Answer:
Luis can be classified as actively engaged.
Explanation:
Members of an organization can be classified according to their level of engagement with the organization:
- Actively Disengaged
- Actively Engaged: employees that perform their work with passion and are emotionally attached to the organization.
- Not Engaged
Answer:
Elastic
Explanation:
Elasticity of demand = percentage change in quantity demanded / percentage change in price
25% / 20% = 1.25
If the elasticity of demand is greater than one ,it means demand is elastic.
Elastic demand is when a change in price leads to a greater change in quantity demanded.
I hope my answer helps you