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kogti [31]
2 years ago
10

Let's say the demand elasticity for Aaron's scones is |.5|. Then for a 1% increase in prices, there will be a .5% _______in quan

tity demanded. Demand is ____.
Business
1 answer:
Sidana [21]2 years ago
4 0

Answer:

Decrease; inelastic

Explanation:

Let's say the demand elasticity for Aaron's scones is |.5|. Then for a 1% increase in prices, there will be a .5% DECREASE in quantity demanded. Demand is INELASTIC.

Because demand elasticity is greater than one(1.5), it is price elastic i.e it is sensitive to price. An increase in price will lead to a decrease in quantity demanded and vice-versa.

But because the responsiveness in quantity demanded or the sensitivity to the change in price is not significant, the demand is inelastic.

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One of Christina’s colleagues works with her on developing a more standards-driven environment in her classroom. The two teacher
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7 0
1 year ago
How do trade-offs decided by corporations and government impact our lives?
Fittoniya [83]

Explanation:

Trade offs are something in which there are two things and we choose one of them according to our own preference or need. This is and should be our personal decision, but when Corporations and Governments decide on what to choose between two things, there would might be a negative impact on someone's life. He might feel controlled by the corporations and governments. For example, if corporations of CNG decides with the government that it is better for consumers to use CNG than Petrol in their cars, and lowers taxes on CNG and encourage consumers to shift towards CNG, then this trade off will have an impact of being controlled by the big giants. The choice should be of consumer's. The consumer should be the one who will trade off between things who are preferable for him.

8 0
2 years ago
Yasmine plans to attend a four-year public university. She expects she will need to contribute $9,000 annually to her education.
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7 0
2 years ago
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erma4kov [3.2K]

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3 years ago
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