Answer:
inelastic demand
Explanation:
Price elasticity of demand (PED) measures the proportional change in quantity demanded when the price of a product or service changes:
- when a 1% decrease in price, increases quantity demanded in a smaller proportion, the PED is said to be inelastic.
- when a 1% decrease in price, increases quantity demanded in a larger proportion, the PED is said to be elastic.
- when a 1% decrease in price, increases quantity demanded in the same proportion, the PED is said to be unit elastic.
In this case, the decrease in price (-2%) barely increased the quantity demanded, therefore, the PED is inelastic.
Answer:
The European Parliament to resolve their concerns.
Explanation:
The European Parliament bis the legislative section of the European Union. The European Parliament is made up of 705 members and is the 2nd largest parliament in the world.
When there is dispute with regards to EU laws the European Parliament is the body that resolves it. They help implement laws enacted by the European commission. They can amend or reject a legislature, and they also make proposal for legislation.
So citizens of France, Belgium, and Finland will approach the European Parliament when they are upset by a recent trade law enacted in the European Union which they feel negatively impacts their respective economies.
Answer:
the conversion cost is $58,200
Explanation:
The computation of the conversion cost is shown below:
The conversion cost is
= Direct Labor + Manufacturing Overhead
= $32,800 + $25,400
= $58,200
Hence, the conversion cost is $58,200
It is the combination of the direct labor and the manfacturing overhead
