Answer:
The correct answer is letter "B": how responsive quantity supplied is to a change in price.
Explanation:
Price elasticity of supply describes the relationship between changes in quantity supplied and prices. <em>It is calculated by dividing the percentage change in quantity supplied by the percentage change in price</em>. If the result is equal to or greater than 1, the supply is elastic. This means in front of relatively small changes in price, major changes in quantity supplied will occur.
If the result is a figure lower than 1, the supply is inelastic which mear changes in prices will not affect the quantity supplied.
Floods, product failure, change in demand and cost ineffective sales are all examples of a risk. These examples are a possibility for a company loss that will impact the company profit. Therefore, risk analysis is needed that will outline what you are prepared and how you are going to respond to risk.
Answer:
it is not allocatively efficient
Explanation:
Monopoly is a market condition where one seller has all the market share. This leads to an inefficient market structure, an increase in the prices of goods and services and abnormal profits. A problem with adopting a fair return polity for a natural monopoly is that it is not allocatively efficient. In a monopoly, goods and services are not produced to help the economy or people.
