Answer:
b. A decrease in price of 2% causes an increase in quantity demanded of 0%.
Explanation:
By definition, the demand is said to be <em>perfectly inelastic</em> when no matter how much the price of a good changes, you will still be consuming the same exact amount as you did before the price changed.
Keeping this in mind, we know that the price may increase or decrease in 2%, but the demanded quantity will not have any change at all (people won't consume less or more).
So, now we know that the correct answer is <em>b, </em>because a decrease in price of 2% causes an increase in quantity demanded of 0% - in other words, people's purchase decision weren't influenced by the change in the price.
Answer:
Increase in wages
Explanation:
Nowadays we can see that the demand for digital media is increasing immensely, due to which there is also a greater need for a web developer who designs and runs a digital media platform.
Web developers are being paid more salary and wages, due to their high requirement, they get fair wages and also get more employment opportunities.
Answer:
The correct answer is Option (E).
Explanation:
According to the scenario, the given data are as follows:
Worker Wage = $8
Rate of corn bushel = $2.75
Work done = 3 bushels per labor hour
So, from this we can calculate the marginal revenue of product,
Marginal revenue of product = Rate of corn bushel × Work done
= $2.75 × 3 = $8.25
As, Marginal Revenue > Wage
More marginal revenue means more profit.
Hence, Mr. Cobb should hire more labor because the marginal revenue product exceeds the wage.
Since this has to do with a debt that has been disputed by you, the number of days you have to send this letter is 30 days.
<h3>How Many Days Are Required to Send a Debt Dispute Letter?</h3>
Following the receipt of a phone call from a debt collector concerning a debt that has been disputed, the next action you must take is to write the debt collector a letter within 30 days after the initial contact.
After then, the debt collector must stop all collection attempts until the appropriate verification is acquired.
Learn more here: brainly.com/question/25919625.
FIFO means First Come First
Out.
In FIFO Method the Inventory
Comes First are deducted from Inventory First at the time of Sales or transfer
to Production unit. Based on this methodology the Value of Closing Stock will
be :
Value of Closing Inventory =
$ 3400.00
Value of Cost Sold = $7,600 +
$7,200 + $3120 + $3400
Total = $ 21,400
cost of goods sold is $ 21,400
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