Answer:
The correct answer is option e.
Explanation:
Demand for a commodity is considered to be inelastic when a proportionate change in price causes less than proportionate change in quantity demanded.
The demand for agricultural products is said to be inelastic. The reason behind this is that these goods are necessities and do not have any close substitutes. Also, they make only a small part of consumer's spending.
So even if there is a change in the price of these goods the quantity demanded will not be much affected.
Consumer, Public, and Business
Answer:
Cost per equivalent unit of materials = $1.28
Explanation:
Materials Cost = $55,040
Number of completed units = 40,000
Total units for material = 40,000 + 3,000 = 43,000 units
Cost per equivalent unit of materials = $55,040 / 43,000
Cost per equivalent unit of materials = $1.28
Answer:
Answer D
Explanation:
i got it right on my test
<span>The answer to this question is “Macroeconomics”.
Macroeconomics, unlike microeconomics, focuses on the bigger picture of the whole
economy including the ups and downs. This is concerned with how the actions of
all individuals and firms interact to produce a wide-level of economic
performance. Microeconomics only focuses on one single factor or the effect of
an individual decision.</span>