The correct answer is 2.
Elasticity measures the sensibility of the quantity supplied or demanded when the price of the product is modified. In this example we will compute the elasticity of the supply function.
<u>The supply function is inelastic</u> in the sense than when a price increase is performed (from P1 to P2) the quantity supplied increases in a lower proportion (from Q1 to Q2). Let's prove this by calculating the percentage increase experienced by each of the two variables:
- Price: (7-4)/4 * 100% = + 75%
- Quantity supplied: (5-3)/3 * 100%= +66.66%
When there is a price increase of the 75%, the quantity supplied increases a 66.66% (<75%).
Based on the excerpt, the most likely reason why President Kennedy enacted the program described was to promote a market economy on a global level by sending aid internationally.
<h3>What did President Kenndy say?</h3>
From the complete question, President Kennedy talked about how the United States would send aid to nations seeking to be stronger economically.
The reason he came up with this policy was most likely to spread the U.S. free market ideology.
Find out more on President Kennedy at brainly.com/question/13721861.
Answer:
here is your answer hope it helps mark me as the brainliest
Explanation:
Sher Shah Suri is referred to as a Philanthropist at heart because after taking over the Mughal Kingdom, he carried out vast projects in India to to help the poor. He is known to spend a lot of his own personal money for charitable works.
A question what reading are you talking about?
