Answer:
Elastic/ Inelastic
Explanation:
Price elasticity of demand is a tool use to measure in economics to show the elasticity, or responsiveness, of the demanded quantity of goods or services to increase in its price. When the price of a good or service changes, inelastic demand is when the buyer's demand does not change when the price of the good or service changes.
Answer:
A
Explanation:
marginal resource cost is equal to their MRP.
Answer:
There were 9 cats at the shelter on Wednesday.
Explanation:
Per day cost to care for each cat = $2.00
Per day cost to care for each dog = $6.50
Total Cost on Wednesday = $44.00
Suppose
Number of cats = C
Number of dogs = D
According to given condition
C + D = 13 (Equation 1)
( each cat's per day cost x Number of cats ) + ( each dog's per day cost x Number of dogs ) = Total coat
2C + 6.5D = 44 (Equation 2)
Multiply (Equation 1) by 2 and we get
2C + 2D = 26 (Equation 3)
Subtract (Equation 3) from (Equation 2)
2C + 6.5D - 2C - 2D = 44 -26
4.5D = 18
D = 18/4.5
D = 4
by placing value of D in (Equation 1)
C + 4 = 13
C = 13-4
C = 9
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If increasing numbers of consumers decide to purchase organically farmed fruit rather than conventionally farmed fruit, how the market is likely to respond is: Conventional fruit profits will fall.
<h3>What is Conventionally farming?</h3>
Conventional farming can be defined as the process of farming fruits and vegetables.
Based on the given scenario in a situation were high number of consumer bought organic farmed fruit instead of conventional farmed fruit, this means that profit for conventional fruit will declined.
Therefore how the market is likely to respond is: Conventional fruit profits will fall.
Learn more about Conventionally farming here:brainly.com/question/2566678
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