............... total surplus INCREASES when the price of ethanol increases. When the supply curve for a product is upward sloping, it indicates that more of that product is been produced. Thus, in the question given more of corn is been produced, if the price of ethanol increases, then total surplus will also increase. Total surplus is the summation of the consumer and producer surplus.
Answer:
Elasticity is 1.0
Explanation:
Price elasticity is a measure of the responsiveness of quantity demanded to changes in prices.
When the ratio of change in quantity to change in price is one, it is unit elastic.
So if price of movie tickets reduce by 5 units the quantity will increase by 5 units.
This will result in same amount of revenue at all prices.
The demand is perfectly elastic.
Answer:
Four different types of perceptual distortion are
Explanation:
Four different types of perceptual distortion are
Stereotyping - it is referred to as the idea and thinking about someone that one took due to a misunderstanding. This mistaken can be partly true or untrue.
Example of stereotype - Indians are good at math, Africans have better athletic ability.
Halo effects - it is referred to the someone's impression influences how one feels about the character of others.
for example - when someone finds that particular person is smart enough to carry out his won work efficiently
Perception - is the process of interpreting, and organizing information that is sent through the sense organs.
Example - perception is awareness which decides which activity is needed at a particular time to gain maximum benefit
projection - it is a sense of defense mechanism that someone employs to get rid of emotion and difficulty,
for example - when someone defends his/her own ideas and then you interrupt.
Answer:
=$450
Explanation:
Javier pay per hour is $9.
Hours worked in the week : 50
Gross pay will be hours worked multiplied by hourly rate
=50 x $9
=$450
Gross pay = $450
