Answer:
1.2
Explanation:
Average quantity supplied:
= (70,000 + 30,000) ÷ 2
= 50,000
Therefore,
Percentage change in quantity supplied:
= Change in quantity supplied ÷ Average quantity supplied
= (70,000 - 30,000) ÷ 50,000
= 40,000 ÷ 50,000
= 0.8
Average price:
= (8 + 4) ÷ 2
= 6
Therefore,
Percentage change in price:
= Change in price ÷ Average price
= (8 - 4) ÷ 6
= 4 ÷ 6
= 0.667
Hence,
Elasticity of supply in the market for gadgets:
= Percentage change in quantity supplied ÷ Percentage change in price
= 0.8 ÷ 0.667
= 1.2
Answer:
promotion mix.
Explanation:
Publicity is the activities of a company to create a good relationship with society. It entails building a good reputation in the eyes of customers. Publicity creates a positive image for a company making it easier to convince customers to buy its product.
Publicity is part of a company's promotion mix. It is a strategy that a business uses to market its brand in the market. A promotion mix is a combination of different marketing approaches that marketers use to reach a wide range of target audiences.
Answer:
A rational decision
Explanation:
Marginal decision involves using more than or less than what you have by comparing the cost and benefits. Marginal cost is the additional cost as a result of making a different decision while the marginal benefit is the additional benefit as a result of making a different choice. A rational decision is a decision in which the marginal benefits as a result of taking that decision is greater or equal to the marginal cost of that decision.