In order to find the average, divide the total cost which is $135,000 by the number of fans 9,000.. your answer would be $15.00 per person.
Stagflation is a condition in which both the unemployment rate and the inflation rate are high. Stagflation is characterised by slower economic development, low employment rates, and increased inflation rates. Stagflation is the occurrence of low economic growth, high unemployment.
In terms of economics, stagflation, sometimes known as recession-inflation, is a state in which unemployment is consistently high, the economy is growing slowly, and the inflation rate is high or rising. When inflation and economic stagnation coexist, this is known as stagflation. The economy is in a state of stagnation due to rising unemployment.
The term "stagflation" was first used in the 1970s, a period of both high inflation and rising unemployment. Stagflation wasn't commonly acknowledged until the middle of the 20th century.
To know more about stagflation, click here:-
brainly.com/question/28177756
#SPJ4
It is called the vertical integration. It is where an organization grows its business operations into various strides on a similar creation way, for example, when a maker possesses its provider or wholesaler. vertical integration can enable organizations to lessen costs and enhance efficiencies by diminishing transportation costs and decreasing turnaround time, among different favorable circumstances.
Answer
Price elasticiy of demand for business travelers: -0.16
Price elasticity of demand for vacationers: -0.29
Explanation:
To find the price elasticy of demand (PED) using the midpoint method, we use the following formula:
![PED = \frac{(Q2-Q1)/[(Q2+Q1)/2]}{(P2-P1)/[(P2+P1/2]}](https://tex.z-dn.net/?f=PED%20%3D%20%5Cfrac%7B%28Q2-Q1%29%2F%5B%28Q2%2BQ1%29%2F2%5D%7D%7B%28P2-P1%29%2F%5B%28P2%2BP1%2F2%5D%7D)
Where Q2 and P2 are the new quantity demanded and new price respectively, and Q1 and P1 are the old quantity demanded and price.
Plugging the amounts into the formula we obtain the results of the answer.
Because both results are in absolute value less than one (0.16 and 0.29), we can say that the PED of tickets, for both vacationers and Business traveleres, is relatively inelastic. (Demand falls less in proportion to the change in price).
