Answer:
See the explanation below
Explanation:
Significance of price elasticity of producers:
- useful in pricing decisions
- when demand is elastic, firms have to reduce their price to earn more revenue
- when demand is inelastic firms need to raise prices to earn more revenue
Answer:
The correct option is C
Explanation:
Overconfidence bias is a tendency to hold a misleading assessment of our skills, intellect or talent.
An Ancient Inca tomb was founded by the archaeologists in the capital of Peru under an ordinary home.
<h3>Who were the archaeologists?</h3>
Archaeologists are the individuals who study the artifacts of historical eras and also excavate the sites that existed in the ancient era.
Archaeologists have found the tomb of the Inca civilization which was wrapped in cloth along with burials of ceramics and fine jewels of that time. It was a structure built over the time span of 500 years back. The tomb was one of the most prominent architects of the Inca civilization.
Therefore, the archaeologists found the tomb of the Inca Empire in the capital of Peru.
Learn more about the Archaeologists in the related link:
brainly.com/question/17472920
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Answer:
These are the answer choices for the question:
Students do not have good nutritional information.
Soda purchases represent a large fraction of students' budgets.
There are few other places to purchase soda on campus.
The price elasticity of demand for soda is equal to 1.
And this is the correct answer choice:
There are few other places to purchase soda on campus.
Explanation:
If vending machines raise the price of soda by two, by the still sell almost the same amount, this means that they have a monopoly over the selling of soda in campus, and that students continue to buy there because they do not have any other feasible alternatives.
This is the problem with monopolies: they can charge very high prices and still make a profit because they will always have demand, but this very act makes consumers worse off, and reduces general social welfare.
