If the quantity supplied by producers is relatively insensitive to price changes, supply is price inelastic.
Inelastic demand is demand for which the change in quantity demanded is small due to changes in price. Demand is elastic if the formula yields an absolute value greater than 1. In other words, quantity changes faster than price. If the value is less than 1, demand is inelastic.
For example, consumers are less price relatively insensitive if the product or service is unique or has few alternatives. Consumers are less price sensitive when total costs are low relative to total revenues. The total effort compared to the total cost of the final product also influences price sensitivity.
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<em>Your question is incomplete. please read below to find the full content.</em>
If the quantity supplied by producers is relatively insensitive to price changes, supply is ______. Multiple choice question.
price inelastic.
quantity demanded.
relative price increase.
change in price.
The journal entry for the inventory purchased will be to record the sale and another one to record the cost of the sale.
<h3>What is a journal entry?</h3>
It should be noted that a journal entry is used to record the financial activities of a company.
In this case, the journal entry for the purchase of inventory on account using the perpetual inventory system is to record the sale and another one to record the cost of the good.
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Hello,
Once every 10 years, the Census Bureau does a comprehensive survey of housing and residential finance.
Hope this helps! :)
<span>The nervous system uses
Gamma-Amino Butyric acid (GABA) as a neurotransmitter in the central nervous
system. The use of several depressants increases the transmission of GABA that
may cause the nervous system to slow down. The reaction of the body to several
depressants is also unpredictable which makes it more dangerous.</span>
The level of productivity is now approximately 40.6 boxes/hr
<h3>
What is Productivity</h3>
Productivity refers to a ratio between a output volume and volume of input.
<u>Given data</u>
Working hours = 2*8 hours = 16 hours
New productivity = 500 + 0.3*500
New productivity = 650 box/day
New productivity =650/16 box/hour
New productivity = 40.625 box/hour
Hence, the level of productivity is now approximately 40.6 boxes/hr
Therefore, the Option B is correct.
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