Answer:
a. Price elasticity of demand is 3.5.
b. Demand for strawberries elastic.
Explanation:
a. Calculate the price elasticity of demand over this price range.
Price elasticity of demand can be calculated as the percentage change in price divided by percentage change in quantity demanded.
We can therefore proceed as follows:
Percentage change in price = [(4 - 2) ÷ 2] × 100 = 100%
Percentage change in quantity demanded = [(1,400 - 1,000) ÷ 1,400] × 100 = 28.57%
Price elasticity of demand = 100% ÷ 28.57% = 3.5
Therefore, the price elasticity of demand over this price range is 3.5.
b. Describe the demand for strawberries.
Since the calculated price elasticity of demand of 3.5 is greater 1, this implies that demand for strawberries elastic. That is, customers are sensitive and more responsive to the change in price of strawberries.
Answer:
D. Return to the original output and price level.
Explanation:
In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.
The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal. On the other hand, law of supply states that the higher the price of goods and services, the lower the supply.
In order to understand both short-run economic fluctuations and how the economy move from short to long run, we need the aggregate supply and aggregate demand model.
Aggregate supply (AS) refers to the total quantity of output (goods and services) that firms are willing to produce and sell at a given price in an economy at a particular period of time.
An aggregate supply curve gives the relationship between the aggregate price level for goods or services and the quantity of aggregate output supplied in an economy at a specific period of time.
Generally, an economy will return to its original level of output (production) and price level when the short-run aggregate supply curve falls (decreases) and no changes in monetary and fiscal policies are implemented. Fiscal policy refers to the use of government expenditures (spending) and revenues (taxation) in order to influence macroeconomic conditions such as aggregate demand (AD), aggregate supply (AS), inflation, and employment within a country.
Answer:
Well your currency will come up due to the investors only if it is a great good market platform The liabilities you must take time to pay them back it might cause interest and money building vlaues or taxes or possibly jail time
Explanation: I really hope i helped
Answer: $3,826
Explanation:
Discount received on terms 2/10 = (Purchase value – Cost of merchandise returned) x Discount Rate
= $4,000 - $300 x 2%
= $3,700 x 2%
= $74
if the company paid the invoice within the discount period, Then the total cost of this merchandise
Total cost of merchandise = Value of merchandise purchased– Cost of merchandise returned + Transportation Costs - Amount of discount received
= $4,000 - $300 + $200 - $74
= $3,826
With this type of insurance, if you are involved in an accident both parties will be covered by their own insurance policies: b) No-fault
