Answer:
Quantity of beef demanded will decrease by 12%
Explanation:
Data provided in the question:
Price elasticity of demand for beef, Ed = 0.60
Increase in the price of beef = 20%
Now,
Price elasticity of demand for beef,
Ed = [ Percentage change in Quantity ] ÷ [ Percentage change in price ]
or
0.60 = [ Percentage change in Quantity ] ÷ 20%
or
Percentage change in Quantity = 0.60 × 20%
or
Percentage change in Quantity = 12%
Also,
Price and Quantity are inversely proportional
Hence,
With the increase in price, the quantity will decrease
Therefore,
Quantity of beef demanded will decrease by 12%
Answer:
1. adding groups
2. sorting groups
3. adding totals
4. previewing the report
Explanation:
The options that are available on the Group, Sort, and Total pane are:
1. adding groups
2. sorting groups
3. adding totals
4. previewing the report
Therefore, given that Group, Sort, and Total pane give necessary options to amend the report's grouping fields, sort fields, add totals, and eventually report calculations for the groups when needed.
Answer: 0
Explanation:
Firstly, we will calculate the nominal value in 2015 which will be:
= $500 x 1 million
= $500 million
The nominal value in 2016 will be:
= $1000 x 1 million
= $1 billion
Real GDP will be the price of the base year multiplied by the quantity of the current year which will be:
= $500 million x 1 million sets
= $500 million
Therefore, the increase in real GDP is zero.
<u>Experimental research</u> <span>involves a type of quantitative research that systematically manipulates one or more variables to determine which variables have a causal effect on other variables.
This way, you determine whether your hypothesis was correct, by conducting an experiment to test your thesis. You change things up to see if you were right or wrong during an experimental research.</span>
This is asking for a cost-benefit analysis. This simply means look at the cost of the change and see if the benefit is greater than the cost.
In this case, the cost would be $40 million but there is a benefit (cost savings) of $70 million.
Since the benefit outweighs the cost, it is a good idea.
