Answer:
The answer is: B) The reduction in economic surplus resulting from a market not being in competitive equilibrium.
Explanation:
Deadweight loss is an economic cost to society as a whole when market inefficiencies occur preventing it from reaching its equilibrium point. Market inefficiencies are caused by incorrect allocation of resources.
For example if a price ceiling is established, suppliers will tend to lower the quantity supplied while the quantity demanded either increases or stays the same. That economic deficiency resulting from an unsatisfied demand is what we call deadweight loss.
Other causes for deadweight loss are price floors (reduction of the quantity demanded) and taxation (shifts on the demand or supply curves).
Answer:
(I) Price elasticity = 1/6
(II) the $2.5 price gives the higher revenue: 1,250
Explanation:
(I) price elasticity
↑Q (500 - 300)/((500+ 300) / 2)
↑Q 200 / (800/2) = 200/400 = 1/2
↑P (3.5 - 2.5)/((3.5+2.5)/2)
↑P 1/(6/2) = 1/3
(II) total revenue
3.5 x 300 = 1,050
2.5 x 500 = 1,250
Answer:
Which element can be used as a hook in an essay?
The element that is used as a hook in an essay is called main idea
Explanation:
Main idea is used as an hook in writing essay because it gives the reader an idea of the message being passed by the writer.
According to the pyramid of corporate social responsibility, it was acting at the philanthropic responsibilities level.
<h3 /><h3>What is social responsibility?</h3>
Social responsibility is the responsibility of every individual to work for the welfare of the society, it is the help from the individual. The help can be of anyway like donate money, free volunteering in any occasion, explaining the importance of things to the people.
Thus, it is philanthropic responsibilities level.
For more details about Social responsibility, click here:
brainly.com/question/18247797
#SPJ1
The reason for this is because they have developed a two way investment relationship. They also have conducted a free trade agreement. China is importing goods from Australia because they need Coal and Oil and Australia provides them with their needs and wants.
