Answer:income elasticity: Change in the demand curve in response to change in income
Price elasticity: change in demand curve in response to change in price
Explanation:
Income elasticity of demand is the degree of responsiveness of the quantity demanded of a commodity to a CHANGE in income.
Income elasticity of demand=%∆ Qd / %∆income
That is, the ratio of the percentage change in quantity demanded to the percentage change in income.
Price elasticity of demand is the degree of responsiveness of the quantity demand of a commodity to a CHANGE in its own price. It can be calculated using
Price elasticity of demand= %∆Qd / %∆price
That is, the ratio of the percentage change in quantity demanded to the percentage change in price.
A variable cost is a cost that changes as at different points overtime and is not a set amount every month. Raw materials and rent are monthly payments made each month that typically do not fluxuate at all unless there is a new agreement, expansion or something that causes a change with those bills. Equiptment machinery repair can change because there are not repairs made each month. The cost and extensiveness of the repairs fluxuates over time therefor this is a variable cost.
$1500 will be paid by the Insurance policy as the accident has lead to $725 damage to John’a car which will be covered up to $500 (full amount that insurance can pay), leaving him to pay off the rest. As for the liability that is worth $1525 so insurance will pay what it can which is $1000, leaving John to pay off the remaining amount. So the insurance is paying $1500 ($500 comprehensive coverage plus $1000 liability coverage)
Answer:
Mission
Explanation:
A Mission statement is a statement that defines who the customers are, the type of product or service the business is offering, the location of the business and the values on which its runs on or operates. The mission statement generally defines or answers the question on why the organization or company exist. It gives an understanding to the business. The mission statement describes what ab organization needs to do in achieving a set vision.
Answer:
<em>B. Yes, although it may be breached in most states if there is a court order to do so.</em>
Explanation:
<em>Duty of confidentiality is a provision that has been put in place in most states, to enable clients open up freely if they need help. This allows professionals to take whatever actions necessary to carry out full service delivery when helping the client. </em>Some of these details include health status, a client-lawyer case story, a social media's access to users' personal details, etc. The law prohibits professionals from disclosing information made available to them by the client to a third party. This duty is held by many professional bodies like the medical body, legal body, among others. <em>This duty can be broken by law in situations where the client sues the professional, or when there is a legal court order to do so</em>.
