Answer:
Price elasticity of demand for Adam=0
Price elasticity of demand for Barb=1
Explanation:
Price elasticity of demand = %age change in demanded QTY / %age change in demanded price
The price is not important for Adam, and he demands a fixed quantity, hence his demand curve is vertical. A perfectly vertical demand curve is can inelastic demand curve and has price elasticity =0
The quantity is not important for Barb, and he demands a fixed price, hence his demand curve is horizontal. A perfectly horizontal demand curve is has price elasticity =1
I'm sure that, when paying for purchases, debit cards are exactly the same as credit cards.
Answer: Trade associations are non-profit organizations whose primary purpose is to <u>provide different learning tools for businesses in a particular industry.</u>
The number of t-shirts that one can assume are sold at a price of $7 will be 220
<h3>What is price?</h3>
It should be noted that price is the sum of money that one party pays or receives in exchange for another's goods or services. The cost of production may go by another name in some circumstances. If a product is classified as a "good" in a business transaction, its price is most likely to be referred to as such.
In this case, it should be noted that the higher the price of a particular good, there'll be a reduction in the quantity that will be demanded.
Therefore, the most likely value will be $220. In conclusion, the correct option is A.
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A study finds that at a price of $10, 100 t-shirts are sold. At a price of $5, 300 t-shirts are sold. How many t-shirts can you assume are sold at $7?
A. 220
B. 200
C. 180
D. 160
1. Other things remain the same if the price of a budget line increases then the budget line will tilt inwards from the intercept of the goods whose price is constant.
2. other things remaining the same, if the budget for and, budget line a change in the Income of Consumer.
The budget line will move to the right to the new location as a result of the price of good X declining, the consumer's income being constant, and the price of Y increasing. If the price of good X increases while the price of good Y and income remain unchanged, the budget line will go up.
A budget line is a line that specifies the upper and lower bounds of permissible consumption and is based on the SUPPLY and DEMAND of goods and services from the customer. Budget, Prices, Demand, Prices Budget, Prices, Demand, Prices He has $1.00 to spend each week on coffee and Coke, and he has a total of $12.00 to spend on these items.
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