Answer:
The price elasticity of demand is 1.14.
The price is Elastic.
Elasticity is more than one so total revenue will fall.
Explanation:
Given the initial price of good x = $12
Final price of good x = $12.90
% change in price = [(12.90 - 12) / 12] x 100 = 7.5 %
Initial quantity = 5000
Final quantity = 4600
% change in quantity = [(4600 - 5000)/5000] x 100 = -8%
Elasticity = % change in quantity / % change in price
Elasticity = 8% / 7%
Elasticity = 1.14
The price elasticity of demand is 1.14.
The price is Elastic.
Since elasticity is more than one so total revenue will fall.
Answer:
c. convergent thinking
Explanation:
Convergent thinking is the ability to think quickly about one or two good solutions to a problem, without needing to spend your time and thinking about it. This is especially important when it comes to decision-making processes. This is very different from a different idea, where you come up with a lot of possibilities
Answer:
Crisis Panning
Explanation:
The crisis planning involves the management of the company risk associated with catastrophic events which will completely destroy the firm and their will no essence of the company to start it again. So to insure businesses from such risks heading, the company plans about it to tackle such risks and this planning is known as crisis planning.
Well I look up the answer it c.
