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Kipish [7]
3 years ago
12

Which statement is the best definition of the price elasticity of demand?The ratio of the percent change in demand to the percen

t change in income.The ratio of the percent change in price to the percent change in quantity demanded.The absolute value of the slope of the demand curve.The ratio of the percent change in quantity demanded to the percent change in price.
Business
2 answers:
Yakvenalex [24]3 years ago
8 0

Answer:

The correct answer is letter "D": The ratio of the percent change in quantity demanded to the percent change in price.

Explanation:

Price Elasticity of Demand is a measure of the response of one factor to a change in another variable. It can explain the degree to which supply and demand change with the price of goods or consumer income for a good or service. <em>We calculate elasticity by dividing the change in quantity demanded with the change in price</em>. A result <em>greater than or equal to 1 means a good or service is elastic</em>; <em>less than 1 means an inelastic</em> good or service.

Vikki [24]3 years ago
7 0

Answer:

The ratio of the percent change in quantity demanded to the percent change in price.

Explanation:

Price elasticity of demand measures how responsive quantity demand is to changes in price.

The formula is given by

Price elasticity of demand= Percetage change in demand/ Percentage change in price

Usually the price elasticity bis negative. Goods that don't obey the law of demand have positive elasticity.

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Zigmanuir [339]

Answer: Regular checking account with a monthly fee $4 for an unlimited number of checks,no monthly balance required and no interest earning.

Explanation:

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Since Megg has an opening balance of 300, she can't open a account that requires a minimum balance of 400. Likewise, it'll be unwise to charges $6 monthly when the balance in the account falls below 300.

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8 0
3 years ago
If Shawn can produce donuts at a lower opportunity cost than Sue, then ____
Archy [21]

Answer:

(A) Shawn has a comparative advantage in the production of donuts.

Explanation:

Shawn renounce to less goods than Sue when producing donuts.

This meas, Shawn has a comparative advantage in the production of donuts as their cost from the economic point of view are lower.

This do not imply that Sue cannot outproduce Shawn, it means it cost her more than Shawn

For example, if Sue produce 10 Donuts, but to produce donuts resing to produce 20 of other goods, each donut has an opportunity cost of 2

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4 0
3 years ago
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Scrat [10]

Answer:

Product or service differentiation competitive advantage

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7 0
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VMariaS [17]

Answer:

It can give money value today but it reallys depends because if you are trying to say money give us value to help us pay for medicare then yes. In order for us to afford medicare. You need the Goverments support especally if you an need for support or you have someone is need.

Explanation:

4 0
3 years ago
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