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Answer:
The sacrifice ratio could be as small as 0
Explanation:
The Sacrifice Rate is the loss of output due to the fight against inflation, and can be expressed as how much product is lost to reduce inflation by 1 percentage point. The Sacrifice Rate is a proposition by economist Robert Lucas Jr, who noted that the slowdown in long-term inflation is associated with a reduction in the production of goods and services over a period of time until economic agents adapt to the new reality. pricing and restructuring their expectations of the economy. Therefore, the social cost of fighting inflation is a reduction in GDP and an increase in the unemployment rate.
Because of this, we can conclude that if policymakers are committed to reducing inflation and rational people understand this commitment and quickly reduce their inflation expectations, the sacrifice rate can be as low as 0.
Answer:
65,000 units
Explanation:
Let the number of units be sold = x
Operating Income= Sales- Variable cost – Fixed Cost
Operating Income = 40x - 24x - 560,000
Operating Income = 16x - 560,000
Return on Investment = Operating Income / Net Operating Assets
16% = (16x - 560,000 )/ 3,000,000
480,000 = 16x - 560,000
16x = 480,000 + 560,000
16x = 1,040,000
x = 65,000 units
Answer:
$7.5
Greater
Explanation:
Price elasticity of demand = percentage change in quantity demanded/ percentage change in price
0.2 = 10%/ percentage change in price
percentage change in quantity demanded = 50% = 0.5
0.5 = (New price - $5) / $5
New price = (5 × 0.5) + 5 = $7.5
In the short run, demand is relatively inelastic because consumers need time to find suitable substitutes but in the long run, demand is usually more elastic.
I hope my answer helps you
