Answer:
C. Fall, 30%, Rise
Explanation:
- Price Elasticity of Demand is responsive change in demand, due to change in price.
P.Ed = % change in demand / % change in price.
Given : Price rise by 50% , P.Ed = 0.6
So, % change in demand = P.ed x % change in price
% change in demand = 0.6 (50)
% change in demand = 30%
Law of demand states negative relationship between price & demand, so P.ed is negative. Price rise 50% reduces demand by 30%.
- P.Ed can be : Elastic ( > 1 ), or Inelastic ( < 1 ). If P.Ed is Elastic, price & total revenue are inversely related. If P.Ed is Inelastic, price & total revenue are directly related.
So, Given PEd = 0.6 (i.e < 1 ) : Inelastic Demand implies price & total revenue are directly related related to each other. So, price fall lead to TR fall & price rise lead to TR rise.
Answer:
A production combination outside of the PPF is unattainable by the economy with the given resources and technology.
This represents the Concept of scarcity in economics.
If the economy wishes to achieve the production point outside the frontier, they will have to enhance the production possibility capacity by introducing new technology or finding new resources.
Explanation:
Answer:
Student responses will vary, but should include: A young investor has years of earning power and can take greater risks because he/she has time to make-up for losses. An older investor needs more security and current income from their investments because they are using it to retire on or they need it to continually grow so that they can retire.
Explanation:
Answer:
The linear communication model explains the process of one-way communication, whereby a sender transmits a message and a receiver absorbs it. It's a straightforward communication model that's used across businesses to assist with customer communication-driven activities such as marketing, sales and PR.
Explanation:
Answer: Option (A) is correct.
Explanation:
An event planner or meeting planner is an individual who is responsible for bringing together every individual implicated in producing a get-together, incentive, special event. This individual understands the intent of the task, or organization's rationale. This requires working with a diverse range of people within the organization, also resources that are considered as external.
