Trough (bottom of the cycle)
Answer: 36% increase in quantity demanded.
Explanation:
Price Elasticity shows the change in quantity demanded when there is a change in price.
Change in Quantity demanded = Price elasticity * Change in price.
Change in price using midpoint formula;
Change in Quantity demanded = -0.9 * -0.4
= 0.36
= 36% increase
Answer:
Property rights allow consumers and producers to make free choices .
Explanation:
A free market in an economic system is solely based on the market forces of demand and supply with minimum government intervention.
Property right is the authority of ownership that determines how a property can be put to an efficient use , thereby promoting efficiency.
This is necessary in a free - market system as it allows consumers and producer to make free choices , as the intervention of the government is at the minimal level.
1,0000 people on the world diet are uu going out with the baby I eyes and I miss my v
Answer: Oligopoly
Explanation:
The market type being described in the question is an oligopolistic market, where Dealey electric group and three other companies are in control of bulb production.
An oligopolistic market is a market where sales is being controlled by a very few number of companies and the prices of commodities in that market are also controlled by those companies.
