Answer:
the price of candy is low and the quantity of candy is high
Explanation:
A large industrial sector doesn’t
always indicate that a nation is fully developed because the standard of living
may not have risen with industrial growth. An example of this is North Korea.
It has a large industrial sector but also a low standard of living, so it’s not
considered developed. The correct answer between all the choices given is the
second choice or letter B. I am hoping that this answer has satisfied your
query and it will be able to help you in your endeavor, and if you would like,
feel free to ask another question.
Answer:
(1) The price Elasticity of demand for Dormintory space will less than one.
(2) The room rates will increase following the increase in demand.
Explanation: The price Elasticity of demand is a term used in Economics to describe the change in Quantity demanded at the slightest change in price of the product or services rendered. FOR A NECESSARY AND ESSENTIAL GOODS AND SERVICES WITH NO CLOSE SUBSTITUTES LIKE THE DORMITORY SPACES THE PRICE ELASTICITY OF DEMAND WILL BE LESS THAN ONE.
THIS MEANS THAT A CHANGE IN PRICE WILL HAVE LITTLE OR NO EFFECT ON THE DEMAND.
One of the conditions necessary for a change in price is a change in demand, as the demand for a product or service increases, it will lead to a corresponding increase in the price of the product or service especially when the supply for the product or sevice is constant.
The federal government is superior to the state government so if there are any questions as to why or which person to follow, it would be the federal government. As a policy holder is is important to know this so that you are able to make the correct decision regarding your issues. All final policy requirements should be made at the federal government level.
