Answer:
Inelastic
Explanation:
The inelastic demand means the demand of the product does not vary when there is much change in the price. Let us assume that if the price is increased by 20% so the demand decreased only by 1% so here we can said there is inelastic demand
Also due to increased in the supply, the demand does not increased that much. So if the price is decreased so the demand does not respond due to which the total revenue comes down
So as per the given situation, having the large quantity caught the revenue is decreased so here the demand should be considered inelastic
Answer:
The correct answer is letter "C": Entire Contract.
Explanation:
The entire contract is the clause in an insurance contract that establishes that both the insured and the insurer are bound by the terms and conditions stipulated in the contract. In other words, only what is stated in the contract are the benefits and obligations of both parties and nothing else outside of it.
Oligopoly
What is Oligopoly?
In Oligopoly markets, a limited number of suppliers control the market. They are present in every nation and a wide variety of industries. While some oligopoly markets are much more competitive than others, others can at least appear to be so. Investigations into allegations of coordinated behaviour or a lack of fierce competition are frequently requested from competition authorities.
To learn more about Oligopoly
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