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Greeley [361]
2 years ago
7

The price elasticity of gasoline supply in the United States is 0.4. If the price of gasoline rises by​ 8%, what is the expected

change in the quantity of gasoline supplied in the United​ States?
A. ​3.2%
B. ​+ 0.32%
C. ​+ 32.0%
D. ​+ 3.2%
Business
1 answer:
Jet001 [13]2 years ago
8 0

Answer:

a

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

0.4 == quantity / 8  

3.2%

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.  

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.  

Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases  

Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.

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Answer:

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Explanation:

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3 years ago
Bob operates Bob's Pizza, a small pizzeria that sells about 50 pizzas a day. Bob's daily total fixed costs are $100, and his dai
Sonja [21]

Available options are:

A. All of the choices are correct.

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Answer:

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As the variable cost is the same which means that the marginal cost (All variable costs) would neither increase nor the average variable cost (Average variable cost due to fluctuating variable cost) would increase. Hence both Option C and D are incorrect.

Option B is correct because:

Average Fixed cost = (Initial Value + Value Now) / 2

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This means that the average cost has been increased.

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Answer:

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Explanation:

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<h3>What is a discrimination?</h3>

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However, the color discrimination involves treating someone unfavorably because of their skin color complexion. Therefore, as she was told there were no vacancies, then, this type of discrimination based on a color discrimination.

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Defining the organizational mission forces managers to identify ________.
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