The rich made sure only they could get education and all the right tools, etc. So the poor were left out of the advantages that rich people kept hoarding. So the poor were rarely able to catch up.
<span>The cell phone company is participating in strategic outsourcing. When a business uses strategic outsourcing they are outsourcing a part of their company operations to another company. By doing this, they are able to focus more on their core company goals and let another company handle the outside work of making it happen. </span>
Answer:
Elastic which is more than 1.
Explanation:
Price elasticity of demand is the responsive relationship of quantity demanded when compared to price. It measures how much change there would be in demand if Price were to change.
The raise in prices yielded a fall in revenue because the demand for tickets was elastic. (More than 1)
An elastic demand means that a small change in price will cause a more than proportionate change in qty demanded and hence with an increase in price, far less people purchased the ticket.
An inelastic demand however would have caused less people to give up tickets and raised overall revenues.
Hope that helps.
Answer:
The correct words for the blank spaces are (<em>in that order</em>): low; high; opportunity; reservation.
Explanation:
For buyers and sellers to benefit from a transaction, the price of the goods or services offered must be at equilibrium. It implies the price is low enough for consumers to consider purchasing the product and high enough for producers to offer it earning a profit.
Besides, producers should consider their opportunity costs which are the costs of adding one more unit for production. On the other side of the road, consumers consumer their reservation price which is the maximum amount of money they could pay for a good or service based on the value they give to the product.
