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
Answer:
How does the photo appeal to emotions?
Its shows a worried mother with her children
Why would Lange make up the story of the photo?
Her job was to show suffering
Explanation:
This is the answer for edg2020
Elastic.
This is
the formula for elasticity:
Elasticity
= (Quantity variation/Quantity)/(Price variation/Price)
Inelastic
demand is the one in which a variation in price doesn’t lead to an important
variation in the quantity bought by consumers. So, in the formula, numerator is
much smaller than denominator, so the fraction is lower than 1. That happens
with necessary goods (typically, food).
On the
contrary, elastic demand is the one in which a variation in the price leads to
an important variation in the quantity bought by consumers, and that means the
fraction is higher than 1. So if I sell the product at a lower price, I will
sell much more product.
Considering the formula:
R = P*Q, when demand is elastic,
I will
have much more sold quantity with just a little lower price, which leads to a higher
revenue.
Explanation:
D
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