Answer:
the quantity supplied is to a change in price.
Explanation:
Elasticity of supply measures the degree of responsiveness of quantity supplied to changes in price
Elasticity of supply = percentage change in quantity supplied/ percentage change in price
Supply is elastic if a small change in price has a greater effect on the quantity supplied.
Supply is inelastic if a small change in price has little or no effect on quantity supplied.
Supply is unit elastic if a small change in price has a proportional equal effect on quantity supplied.
I hope my answer helps you
Body Language is communicate by movement or position, particularly facial expressions, gestures and the relative positions of a speaker and listener.
Answer:
d. multiple firms would likely each have to pay large fixed costs to develop their own network of pipes.
Explanation:
Option a is wrong because:
The initial investment is very high, therefore, the more firms competing will only increase the required investments and fixed costs associated with them, e.g. depreciation, maintenance. That is why the lowest average costs is generally achieved when only one firm serves this type of market.
Option b is wrong because:
A natural monopoly exists because it is extremely difficult for two or more competing firms to exist. Generally the required investment is very high, and the revenues are not large enough to allow two or more firms to compete.
Option c is wrong because:
Utilities require large initial investments, but once they are set up, the production costs are very small. I.e. the fixed costs are more relevant than the variable costs. Average production costs as decrease as the quantity produced increases.
Answer:
34.04%
Explanation:
Data provided :
Total sales of the Springfield Club = $ 920,000
The net operating income of the company = $ 34,040
The average operating assets of the company = $ 100,000
now,
The return on investment will be calculated as:
Return on investment (ROI)= 
on substituting the values, we get
ROI = 
or
ROI = 34.04%
