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2 years ago

Which of these is an example of a good with elastic supply?

Business

2 answers:

DerKrebs [107]2 years ago

8 0

Answer:

sandwiches

Explanation:

supplier has plenty of spare capacity to increase output

high stocks levels are available to meet raising demand

short production time frame to get products to market

easy of factor substitution is high

Leviafan [203]2 years ago

7 0

Answer:

Jet planes.

Explanation:

Elastic supply is a measure of the relationship between the quantities of a good supplied and change in prices. As it is expected that a change in change in price will affect the quantity of goods demanded and supplied , elastic of demand measure this relationship.

However , elastic supply occurs when the percentage change in quantity supplied is greater than the percentage change in price.

Airplane can easily be substituted with options like train , vehicles and even boat ,therefore change in price could trigger a greater effect on the supply

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Assume the world market for oil is competitive and that the marginal cost of producing (extracting and bringing to market) ano

xz_007 [3.2K]

Answer:

The economic surplus will decrease by $2.20

Explanation:

$81.40 and $79.20 are marginal cost and benefit, which are the changes to total costs and total benefits due to producing and consuming one additional barrel of oil.

They can be used to calculate change to economic surplus, which is the change to the net economic value received by society, which is given by:

marginal benefit - marginal cost = $79.20 - $81.40 = - $2.20

7 0

2 years ago

When a company produces 5,000 units, total costs equal $150,000 and total variable costs equal $75,000. At this level of out

Marrrta [24]

Answer:

$15

Explanation:

Average fixed cost = Total fixed cost / quantity

Total fixed cost = Total cost - Total variable cost

= $150,000 - $75,000 = $75,000

Average fixed cost = $75,000 /5000 = $15

I hope my answer helps you

7 0

2 years ago

A symmetric, bell-shaped frequency distribution that is completely defined by its mean and standard deviation is the _____ distr

crimeas [40]

A symmetric, bell-shaped frequency distribution that is completely defined by its mean and standard deviation is the normal distribution.

A symmetrical distribution about the mean, such as the normal or Gaussian distribution, indicates that data points closer to the mean occur more frequently than data points further from the mean.

The normal distribution is represented graphically by a bell curve. A bell curve of probabilities is more properly known as the normal distribution. The standard deviation is one and the mean is zero in a normal distribution. Its kurtosis is 3, and its skewness is 0. Not all symmetrical distributions are normal, but all normal distributions are symmetrical. The normal distribution can be thought of as a rough approximation of many naturally occurring events. However, most price distributions in finance are not normally distributed.

To know more about normal distribution refer to:

brainly.com/question/14725173

#SPJ4

6 0

9 months ago

Cyclical unemployment is

Andre45 [30]

Cyclical unemployment is a factor of overall unemployment that relates to the cyclical trends in growth and production that occur within the business cycle.

5 0

2 years ago

If gross pay increases by $500, total employee benefits increase by $200 and total job expenses decrease by $300, then total emp

denis23 [38]

Answer:

option (d) increases by $1,000

Explanation:

Data provided in the question:

Increase in gross pay = $500

Increase in total employee benefits = $200

Decrease in total job expenses = $300

Now,

The change total employment compensation

= Increase in gross pay + Increase in total employee benefits + Decrease in total job expenses

= $500 + $200 + $300

= $1,000 (Here, the positive value means an increase )

Hence,

The answer is option (d) increases by $1,000

5 0

2 years ago