Answer:
the value of the goods that were given up to produce the bicycle.
Explanation:
Opportunity cost is the cost of the next best option forgone when one option is chosen over other alternatives.
the opportunity cost of purchasing the bicycle is the value of other things that could have been bought instead of the bicycle
Answer:
c. Inelastic demand
Explanation:
Inelastic demand means that the quantity ordered on a product is not affected by changes in price. The demand is relatively constant regardless of a change in price.
Coffee and sugar are complementary goods. Usually, price fluctuation in one of them should affect the demand of the other. In this case, changes in sugar prices have not affected the demand for coffee. If price changes do not affect demand, then the product has inelastic demand.
Answer:
yes they do
Explanation:
people care about loyalty you just have to find someone that will give it to u
Answer:
(a) 3.9 units/hour; 3.5 units/hour
(b) 11.43%
Explanation:
(a) Current period productivity:
= Current output ÷ Current labor hours
= 156 units ÷ 40 hours
= 3.9 units per hour
Previous week's productivity:
= Previous week's output ÷ Previous week's labor hours
= 105 units ÷ 30 hours
= 3.5 units per hour
(b) Percentage change in worker's productivity:
= (Change in productivity ÷ Previous week's productivity) × 100
= [(3.9 - 3.5) ÷ 3.5] × 100
= 11.43%
Therefore, the worker's productivity increases by 11.43%.
