Answer:
The correct answer is letter "B": magnitude of the response in quantity demanded to a change in price.
Explanation:
Price elasticity of demand is the measure of how quantity demanded for a good or service changes as a result of changes in price. <em>Price elasticity of demand is calculated by dividing the percentage change in quantity demanded by the percentage change in price</em>. If the result is equal or greater than one (1) the good or service is elastic. If the result is lower than one (1), the product is inelastic.
Answer:
Would unregulated markets produce too much or too little of Good X and Good Y, compared to the efficient output levels for these products?
Explanation:
Good X: Too Little
Good Y: Too Much
Answer:
Being a businessman and being charitable at the same time is just next to impossible at the time of expanding one's firm.
Explanation:
A business person's main motive has to be his ability to expand, so that he reaches that particular stage to do some charity for his fellow citizens. If you look at the unemployment part, then you must know that every person is somehow talented and in countries like the US, no one lives unemployed.
Therefore, it is necessary for a business person to calculate the cost factors, that does not only include the cost of labors, but also the cost of exporting the materials to Bangladesh and the cost of importing the final products. Then he needs to compare the total cost making the shoes in Bangladesh with making them via the US labors, and then take the decision accordingly.
Answer:
Costs and benefits are weighed to determine if producing the good will be profitable.
Explanation:
Production of goods refers to the process through which raw material and resources are converted to a finished product. In most economies, production of goods are services is necessary to meet the demand for these goods. Companies and firms utilize resources like labor and materials to produce finished products. This is usually a costly activity that needs to be planned and organized for it to be successful. Since most businesses is for profit making, the production process has to be done in such a way that in the end, profits are made. Production processes requires financial strategies to be applied and assessed to ensure that the process is profitable in the long run.
An example of a financial analysis that can be used is the cost benefit analysis. The cost benefit analysis involves determination of all the resources that will be needed as input. The input is then convert into monetary terms, then summed together. The total amount of input in monetary terms is the cost, since that i the total amount needed to process the raw materials to finished goods. The future benefits are also forecasted and converted into monetary terms. The comparison of the costs versus the benefits forms what is collectively termed as the cost and benefits analysis.
When the costs outweigh the benefits, then the good should not be produced. When the costs are equal to the benefits, it means the business will break-even, so there will be no profits, it is advisable not to produce the good. Finally, when the benefits outweigh the costs, it is advisable to produce the good.
Answer:
number of payment is 3.05 payment
so correct option is b 3.05 payments
Explanation:
balance = $5000
annual rate r1 = 18.7 % = 
= 0.01558
credit card charging r2 = 5.9% = 
= 0.004917
payments P = $250 month
to find out
How many fewer payments will you have to make to pay off this debt if you transfer the balance to the new card
solution
we first find time t both rate by total balance formula that is
balance = 
...........................1
here P is payment and t is time and r is rate
put here all value and find t for r1
balance =
5000 = 
take log both side
log 0.6884 = log 1 - log
t = 24.1519 .................2
and now put here all value and find t for r2
balance =
5000 = 
take log both side
log 0.9016 = log 1 - log
t = 21.1055 .....................3
so by equation 2 and 3
so no of payment will be 24.1519 - 21.1055
so number of payment is 3.05 payment
so correct option is b 3.05 payments
