Answer: d. a decrease in the quantity demanded of 30%
Explanation:
Price elasticity of a good is used to measure the magnitude of change in the quantity demanded of the good as a result of a change in price.
Price elasticity = Change in Quantity demanded / Change in Price
2 = Change in quantity demanded / 15%
Change in Quantity demanded = 2 * 15% = 30%
The elasticity is listed as positive but is supposed to be negative even though this can cause confusion. Normal goods are assumed to have a negative elasticity so unless stated otherwise, assume elasticity is negative.
This is why the change is a decrease in quantity demanded.
Yes. Dana should be concerned because her child is not getting the attention that was there before the divorce. The mom should should be aware the child maybe affected later on. monitoring and having open discussion on a regular basis with be ideal to
Answer:
The strategy is called sector-wise diversification.
Explanation:
This is an excellent way to diversify and distribute the risk as if we only invest in companies in one sector of the economy, if that sector is affected by poor economic conditions, the companies in that sector will under perform and the entire portfolio will go down in value.
However, if we diversify the risk among different sectors such as agriculture, consumer goods, banks and financial services, diversified holdings, food and beverages, etc.. even if a sector falls under difficult times, the rest of the portfolio will only be slightly affected,
B- allow the economy fix itself. laissez-faire means to let free or to let be
Answer: $32000
Explanation:
It should be noted that ministers or clergymen can exclude the home rental value or housing cost from the calculation of the gross income
Rev. Snider's self-employment income
Therefore, in this case, Rev. Snider's self-employment income will be:
Salary = $20,000
Add: Housing allowance = $12000
Total = $32000
