Savings accounts is the most liquid
Answer:
The price elasticity of demand is -0.25
Explanation:
The demand equation is given by:
Q = 80 - 0.25p
The price elasticity of demand is the same as the rate of change of Q (Quantity demanded) with respect to p (price).
The rate of change of Q with respect to p is obtained by differentiating Q with respect to p
Q = 8 - 0.25p
dQ/dp = -0.25
Therefore, price elasticity of demand = -0.25
Answer:
d. The income effect must have been bigger than the substitution effect since we observe Emily buying less ice cream.
Explanation:
Since in the given situation it is mentioned that the ice cream is increased and she adjust her optimal consumption so that she purchased less ice cream and more chocolate so here the income effect would be high as compared with the subsitution effect as the high price of the ice cream decrease the real income with the actual income left and it would lead to purchase less
Answer:
Cost price formula = Cost + Profit
Explanation:
The Cost price formulas count two factors the gives price of product and services. The cost price formula has two factors cost of product and profit percentage that seller want to generate from specific product or services.
Answer:
Opinion Leader
Explanation:
Based on the information provided within the question it seems that Joe can be called an Opinion Leader. This is a type of leadership in which an individual who has an increased knowledge in a certain area provides his opinion to those who do not. Which is what Joe is providing to the people who ask for his expertise on computer hardware and accessories.
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