Elastic demand means that consumers are sensitive to price and that increased prices can lead to lower sales. There isn't enough information to fully answer this question. We don't know how elastic the demand is. If the demand is only slightly elastic, the increased price and lower demand could still equal higher profits.
Answer:
d) 420
Explanation:
In three-year weighted moving average with weights of 0.5, 0.3, and 0.2, the forecast can be calculated using the following formula
Forecast(This year) = 0.5*Demand(last year) + 0.3*Demand(2 years ago) + 0.2*Demand(3 years ago)
Forecast(This year) = 0.5*300 + 0.3*500 + 0.2*600
Forecast(This year) = 150 + 150 + 120
Forecast(This year) = 420
Answer:
The answer is:
1 - Underutilization
2 - Efficiency
3 - Unattainability
Explanation:
Efficiency in economics means a situation in which all resources are optimally distributed to serve each entity in the best way while minimizing waste and inefficiency.
Underutilization in economics is also a a situation in which lesser resources are being utilized than the economy is capable of utilizing.
Unattainability is a situation in which what one to accomplish or achieve is not possible.
1 - Underutilization
2 - Efficiency
3 - Unattainability
Answer:
Option (a) is correct.
Explanation:
France can produce four phones or three computers:
Opportunity cost of producing one phone = (3 ÷ 4)
= 0.75 computers
Opportunity cost of producing one computer = (4 ÷ 3)
= 1.33 phones
Sweden can produce one phone or two computers:
Opportunity cost of producing one phone = (2 ÷ 1)
= 2 computers
Opportunity cost of producing one computer = (1 ÷ 2)
= 0.5 phones
Therefore,
France has a comparative advantage in producing phones because of the lower opportunity cost of producing it than Sweden. France should specialize in producing phones and import computers from Sweden.
Sweden has a comparative advantage in producing computers because of the lower opportunity cost of producing it than France. Sweden should specialize in producing computers and import phones from France.
The person who is using his parietal lobe is Al.
The parietal lobe has two main function according to its region. The first function is to receive and process sensory information from all parts of the body while the second is to interpret visual information as well as processing language and numerical inputs.
As described in the question, Al is trying to determine whether the shower is hot enough, which means that he is using his parietal lobe to do so.
