Answer:
the coefficient of elasticity is 0.5. Thus, demand is inelastic.
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.
Price elasticity = 2/4 = 0.5
Because demand is less than1, big g has an inelastic demand.
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Explanation:
Answer:
what is the importance of trade international trade?
International trade is of great importance at international level as it binds or bonds countries together and enhance trade by barter as well as helps to generate more money. International trade also helps in improving economy as it increases internal generated revenue from imported goods and services
Explanation:
Answer:
555,000
Explanation:
Sunlad assets on December 31 2017 can be calculated as follows
= equipment + cash + supplies + account receivables
= 229,000 + 203,000 + 33,000+ 90,000
= 555,000
Hence Sunland total assets in December 31 2017 is 555,000