The fleet of Frito Lay added semi-trucks powered by compressed natural gas and electric cars.
This is an endeavour to increase the sustainability of their business. It is a type of petroleum that frequently coexists with crude oil. In addition to being utilized as a fuel for some vehicles, fossil and herbal fuels are used for power generating, heating, and cooking. Most EV car batteries today have a life expectancy of 15 to 20 years in the car, and a second life after that. It's also important to keep in mind that EV battery technology is still developing, and as technology advances, we may expect that battery longevity will grow as well as becoming cheaper, smaller, or even lighter. The fleet of Frito Lay added semi-trucks powered by compressed natural gas and electric cars.
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To maximize profits, a firm will employ workers until for the last worker employed:
a. marginal product of labor is equal to the nominal wage rate
b. the value of the marginal product of labor is equal to the wage rate
c. the value of the marginal product of labor is equal to the price per unit of output
d. the value of the marginal product of labor is as high as possible.
This ensures that the firm is getting the most value for the cost of each worker's wages and maximizing profits.
What is the profit maximizing condition for a firm in hiring inputs?The correct answer is the value of the marginal product of labor is as high as possible.This means that the firm will continue to hire workers until the additional output that each worker produces (the marginal product of labor) is equal to the highest possible value. At this point, the firm is getting the most value for the cost of each worker's wages. Any additional workers hired would not increase the value of output enough to justify the cost of their wages. This is known as the principle of diminishing marginal returns, where the marginal product of labor eventually decreases as more workers are added.The value of the marginal product of labor refers to the additional output that a worker produces, taking into account the cost of their wages. In order to maximize profits, a firm will want to ensure that the value of this marginal product is as high as possible. This means that the firm will continue to hire workers until the additional output that each worker produces is equal to the highest possible value.To learn more about marginal product refer to:
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Which of the following is considered "real property?"
A) a fixture permanently affixed to a building
B) fifty-one percent partnership in a firm
C) a club membership
D) diamond jewelry
A fixture permanently affixed to a building is considered "real property among the followings.
Option A is correct.
What is referred to as real property?In addition to the real estate and land you have purchased, rights that are associated with that property are also considered real property. You are entitled to own, lease, sell, and make use of real property in any way you see fit.
What is the foundation of real property?For tax purposes, the amount of your capital investment in property is known as basis. Calculate casualty losses, depreciation, amortization, depletion, and any gain or loss from the property's sale, exchange, or other disposition using your basis. The cost of an asset to you typically serves as its foundation.
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total costs are always equal to a straight line defined by fixed costs plus variable costs times quantity, ie. tc.T/F
Total costs are always equal to a straight line defined by fixed costs plus variable costs times quantity. The given statement is true.
What is total cost, explain.
Total cost (TC) in economics is the least expensive way to produce a certain amount of output. This is the total economic cost of production and consists of fixed cost, which is independent of the quantity of a good produced and includes inputs like buildings and machinery, possibly including sunk costs, and variable cost, which varies depending on the quantity of a good produced and includes inputs like labor and raw materials.
In economics, the total cost of each item of production includes the entire opportunity cost (benefits from the next-best alternative) as one of its fixed or variable costs.
Marginal cost is the incremental total cost incurred by a further unit of production.
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True or False: Inflation is when prices in a national economy increase, or the purchasing power of the dollar weakens on a continual basis.
Answer:
True
Explanation:
The function of money as a store of value is explained by which of the following statements?Money can be stored as an asset because it has an intrinsic value. Money can be saved and used in the future because of its purchasing power. Money has a store of value because it offers protection against high rates of inflation. Money allows comparison of the value of different commodities. Money is used by individuals to acquire other goods and services.
2nd option is correct. Money has purchasing power, so it can be saved and used in the future.
A store of value is an asset, commodity, or currency that retains its value without depreciating. A store of value is an asset that retains its value rather than depreciating. Gold and other precious metals are good stores of value because of their inherently unlimited shelf life.
A national currency must be an adequate store of value for the smooth functioning of the economy. A store of value is essentially an asset, commodity, or money that can be stored, accessed, and exchanged without depreciating in value. In other words, to be included in this category, the acquired item must have equal or greater value over time.
Gold and other metals are stores of value due to their inherently unlimited shelf life. Interest-bearing assets such as US Treasuries (T-Bonds) are also attractive to investors as they retain their value while generating income. Milk, on the other hand, is not suitable as a store of value because it spoils and becomes worthless.
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sales returns: multiple choice refer to merchandise that customers return to the seller for a refund. refer to reductions in the selling price of merchandise sold to customers. represent cash discounts. represent purchases discounts. are not recorded under the perpetual inventory system until the end of each accounting period.
Sales returns is refer to merchandise that customers return to the seller for a refund.
What is a sales return? When a consumer or client returns a product back to the seller, it is referred to as a sales return. There are a variety of justifications for returns by customers, including: Excessive quantity: A consumer may have ordered more goods than they require, or a business may have mistakenly shipped excess goods.Product returns: Describe decreases in the selling price of goods that are provided to customers. Under the perpetual inventory method, are not recorded until the end of each accounting period. Describe the goods that buyers later return to the merchant.The term "return on sales" (ROS), which is often referred to as "operating margin" or "operating profit margin," is a standardised ratio used to describe an operation's profitability as a share of sales revenue.To learn more about Sales returns refer to:
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Investment options A and B are equally risky and have identical initial costs. Each investment will produce cash inflows of $20,000. Option A will pay $8,000 the first year followed by four annual payments of $3,000 each. Option B will pay five annual payments, starting in 1 year, of $4,000 each. Which one of the following statements is correct given these two investment options? Assume a positive rate of return.
Select one:
A. Option B has a higher net present value.
B. Neither investment should be undertaken.
C. Option A is the better investment.
D. Both options are of equal value.
E. Option B has a lower future value at Year 5.
From the following statements, which is correct when given these two investment options is that, option B has a higher net present value.
It is correct to say that option B has a higher net present value than option A when given these two investment options. This is because option B will pay five annual payments, starting in 1 year, of $4,000 each, which adds up to a total of $20,000.
However, while option A will only pay $8,000 in the first year. When taking into account the time value of money, option B's larger, more frequent payments make it a better investment and thus have a higher net present value.
Hence, option A is correct.
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when a person receives more education this is referred to as ___. when a firm buys a new copy machine this is referred to as ___.
When a person gets more education, it is called human capital. When a company buys a new copier, it is called physical capital.
Economies of scale refer to the cost advantages a company experiences when it increases its production levels. Profit is derived from the inverse relationship between fixed cost per unit and output. The higher the production volume, the lower the fixed cost per unit. Economies of scale also lead to lower average variable costs (average non-fixed costs) as production increases.
Companies can achieve economies of scale at any stage of the production process. In this case production refers to the economic concept of production and includes all activities related to education without the involvement of the end user.
Therefore, companies may decide to implement economies of scale in their marketing departments by hiring a large number of marketing professionals. Companies can also adopt this in their input sourcing departments, moving from human labor to machine labor.
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In an efficient market: a. it is fairly easy to find stocks whose prices do not fairly reflect the present value of future expected cash flows b. expected news will cause a rapid change in prices c. information flows are random, both in timing and in content d. all the above
In an efficient market: c. information flows are random, both in timing and in content.
The notion that asset prices accurately represent the possession of all relevant information by all market players is known as price efficiency. According to the random walk hypothesis, stock price fluctuations have the same distribution and are unrelated to one another.
Numerous elements that fall under the categories of a change or rise in supply, demand, or both may contribute to this. Without a doubt, the market's equilibrium would change if either the supply or the demand, or both, changed.
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Where can I get a database of manufacturing business emails for email marketing in india
There are many online resources that offer manufacturing business email databases for marketing in India. Some of these include ListGIANT, Mailbanger, and ListSource.
While choosing any email list, it is important to ensure that it is current and complete. You should also check that the email addresses are valid and that they are from companies in India. Additionally, it is important to check the reputation of any list provider before purchasing a list. Email marketing is a powerful tool for reaching potential customers and having a comprehensive and accurate database of manufacturing business emails in India can help ensure the success of your email marketing campaigns.
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which of the following statements about how salespeople spend their time each week is true? group of answer choices most of the selling done by salespeople today is done over the telephone. salespeople spend less than 2 hours per week on administrative tasks. salespeople typically spend the least amount of time in an average week traveling and sitting in waiting areas. salespeople spend more time in meetings, working with support people in their companies, traveling, waiting for a sales interview, doing paperwork, and servicing customers than in face-to-face selling. none of these
Salespeople spend more time in meetings, working with support people in their companies, traveling, waiting for a sales interview, doing paperwork, and servicing customers than in face-to-face selling statements about how salespeople spend their time each week is true.
What does a salesman do on a daily basis?
They spend the most of their time conducting cold calls, attempting to close deals, and attempting to sell retail products to customers. They also educate new sales representatives and attend frequent meetings. may work full or part time, but the majority put in 40 hours each week. may work weekends, holidays, or evenings. Work hours increase frequently during the winter holidays. Outside sales representatives travel a lot in order to meet with customers, network with prospects, and develop relationships.
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kevin is buying salad and pizza for a company lunch. suppose that a bowl of salad costs $5.00, and a slice of pizza costs $3.00. let e be the amount in dollars that kevin spends on salad and pizza. if kevin buys s bowls of salad and p slices of pizza, then the total amount of money he spends (e) can be represented by the equation
Answer: It can be represented by the equation
s(5)+p(3)=e
potatoes cost janice $0.50 per pound, and she has $5.00 that she could possibly spend on potatoes or other items. suppose she feels that the first pound of potatoes is worth $1.50, the second pound is worth $1.14, the third pound is worth $1.05, and all subsequent pounds are worth $0.30 per pound.a. How many pounds of potatoes will she purchase? ?
Janice will buy:
A . 3 pounds of potatoes
B . 2 pounds of potatoes
A . Until the price of potatoes is lower than their value, Janice will continue to buy them. Potatoes cost $1.00 each, and Janice has $5 to spend on them. Using the supposition4 that the first pound of potatoes costs $1.50, which is more than $1.00, Janice will also buy these if the second pound is worth $1.14 because their value is higher than $1.00. If the value of the remaining pounds is $0.30, Janice won't buy them because they aren't worth the price. Janice will spend $3.00 on 3 pounds of potatoes as a result.
B. Let's say Janice only has $2 to spend on potatoes. She will spend $1.50 on the first pound and $1.14 on the second pound. She now buys potatoes with her entire budget. She would be unable to buy if she wanted to. As a result, Janice will spend $2.00 to buy 2 pounds of potatoes.This is the perfect solution Janice will buy 5 pound of potatoes.
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a farmer contracts with a mechanic to repaint his antique tractor for display in the upcoming county fair. which of the following would discharge the contract by impossibility?
A farmer contracts with a mechanic to repaint his antique tractor for display at the upcoming county fair. The destruction of the tractor by a tornado would discharge the contract by impossibility.
A contract is an agreement that establishes certain legally binding rights and obligations for two or more mutually consenting parties. A contract usually involves the exchange of products, services, or money, or the promise to exchange any of these at a later period.
Contract maintenance is described as a contract between two parties in which one party agrees to maintain an asset held by the other party, which is widespread in many sectors.
A contract provision is a clause included in a contract, legal instrument, or law. A contract clause frequently requires action by a certain date or during a certain length of time. Contract clauses are meant to protect one or both parties interests in a contract.
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Minksine Corporation employs Sandy as its marketing manager. Sandy is driving her sedan to attend a meeting with a client on behalf of her employer. On her way to the meeting, Sandy is involved in an automobile accident that is caused by her negligence. Several people are seriously injured in the accident. Which of the following is true of this case? A) Sandy is solely liable for damages caused by the accident. B) The injured people cannot recover damages from Sandy. C) Minksine Corporation is liable for the injuries caused by Sandy D) The injured people can only claim medical reimbursement from Minksine Corporation.
In this case, Minksine Corporation is held liable for Sandy's injuries.
What is case law?Case law is based on judicial decisions rather than constitutions, statutes, or regulations. Case law is concerned with unique disputes that are resolved by courts based on the specific facts of a case. Statutes and regulations, on the other hand, are written in a more abstract style.
Case law, also known as common law, refers to the body of precedents and authority established by previous judicial decisions on a specific issue or topic. In this regard, case law varies by jurisdiction. Case law from California, for example, would not be used to decide a case in New York. Instead, the issue will be examined by New York courts using binding precedent.
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1)When people must pay higher taxes on their wage earnings, it reduces their incentive to work is a positive statement.2) We should lover taxes to encourage more work is a positive statement.3) Economics cannot always be used to completely decide what society ought to do.4) The system of public education in this country generates greater benefits to society than the cost of running the system in a normative statement.Evaluate the following statement. It is easier to build an economic model that accurately reflects events that have already occurred than to build an economic model to forecast future events. Do you think that this is true or not? why? What does this imply about the difficulties of building economic models?
It is challenging to purchase stocks from foreign corporations because of the numerous legislative restrictions in place all around the world.
A firm is typically just defined as a legal entity unto itself, such as a corporation or a limited liability company (LLC). "The numerous legal obstacles that are present across the globe makes it difficult to purchase assets from abroad firms," the conclusion reads, is a factual assertion. Six internationalization obstacles to setting goals There are six barriers to effective goal setting and plan formation in the organization, caused by both internal and external factors. Because they provide employees with a target to strive for and serve to motivate them to do so, goals are crucial to the effectiveness of an organization.
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the partnership agreement of c. hahn and d. barry states that hahn receives 75% and barry 25% of partnership income and losses. the partnership's net income is $100,000 and is allocated to the partners when the income summary account is closed. which of the following will be credited to close the income summary account?
Correct answer is C. Hahn, Capital for $75,000
Revenues and costs are closed to income summary. Income precis is then closed to the partner's capital accounts.
D. Barry, Capital will be credited for $25,000.
What is partner's capital account analysis?Schedule M-2, Analysis of Partner's Capital Accounts is the area in Form 1065, U.S. Return of Partnership Income the place the partnership reviews to the IRS what brought about the adjustments to the partners' capital bills on the partnership's books and records.
What impacts a partner's capital account?Some examples of the effect on the partner's capital account and backyard groundwork include: Contributions to partnership – Increases capital account and outdoor basis. Distributions – Decreases capital account and outside basis. Distributive share of income and loss – Increases/decreases capital account and outside basis.
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https://brainly.com/question/30226227#SPJ4When Harry addresses decisions about where products and services are created, stored, and distributed, he is addressing the Blank aspect of operations systems design.
A. product-service mix
B. layout
C. facilities
D. Capacity
He is discussing the Blank component of operations system design, which is the layout.
A user interface (UI) is a component of an operating system, software, or technology that enables a person to enter and receive information. A text-based user interface (see image to the left) shows text, and its commands are often input on a command line using a keyboard. The operations of a graphical user interface (see right-hand picture) are performed by clicking or moving buttons, icons, and menus with a pointing device. In most operating systems, the basic user experience is graphical, which means that instead of inputting instructions, you control various graphical elements (such as icons) with a touchpad.
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how will changing the height of ramps affect the potential energy of a ball? also, how will changing the mass of a ball affect the potential energy of a ball? lab
Changing the height of the ramp will affect the potential energy of a ball because the higher the ramp, the higher the potential energy. The greater the height, the greater the potential energy.
Changing the mass of a ball will also affect the potential energy of a ball because the more mass a ball has, the more potential energy it will possess. A heavier ball will have more potential energy than a lighter ball.
1. To answer how changing the height of a ramp will affect the potential energy of a ball, it is important to understand what potential energy is and how it can be measured. Potential energy is energy that is stored in an object due to its position or configuration. It is typically measured in joules (J).
2. To measure the potential energy of a ball, the first step is to measure the height of the ramp. This can be done by using a ruler or other measuring device. The higher the ramp, the more potential energy the ball has.
3. The second step is to calculate the mass of the ball. This can be done with a balance scale or other device. The heavier the ball, the more potential energy it has.
4. The third step is to calculate the gravitational potential energy (GPE) of the ball. This can be done by using the formula GPE = mgh, where m is the mass of the ball, g is the acceleration due to gravity (9.8 m/s2), and h is the height of the ramp.
5. The fourth step is to analyze the results.
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if dan eventually gifts his entire business interest to her, which one of the following statements is correct?
The actions and endeavors of a person engaged in the business of creating or providing goods or services with the intention of doing so for profit are likewise considered to be business.
Amy will have a $500,000 carryover basis in the property.
What is business?Definition in business. The term "business" designates an innovative person, group, or organization that engages in commercial activity. They might be business-related, industrial, or something else.A company is, in general, any organization or entrepreneurial body that engages in commercial activity in a trade or profession.Whether a firm pursues profit or not depends on its core motivation. All of these organizational forms—corporations, partnerships, limited liability companies, and sole proprietorships—are acceptable for use in business.In conclusion, Amy's carryover basis will be $500,000 in the event of a property sale.The Complete Question is business.
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karlovsky and sons inc., a retail corporation, reports financial losses for three years in a row. two larger corporations, gatsby retail inc. and chelsea sales corp. compete to acquire karlovsky and sons. initially, chelsea places a higher bid than gatsby retail but eventually backs out of the merger. in the end, a boston-based multinational company (mnc) named j.y. corp. acquires karlovsky and sons and permits the latter to expand as a wholesaler. which of the following is the surviving corporation in this scenario?group of answer choices
The surviving corporation in this scenario is group of answer choices are J.Y. Corp.
What is corporation?A corporation is a type of legal body established by shareholders, stockholders, or other private parties with the intention of making a profit. Corporations can take many different forms, but typically involve the creation of a separate legal entity that has limited liability for its owners, or shareholders. It is managed by a board of directors, elected by the shareholders, and is meant to have a perpetual duration. Corporations are typically owned by a large number of shareholders, who are entitled to a share of the profits and are subject to certain regulations and restrictions. Corporations also have an obligation to pay taxes, and may be held liable for any wrongdoing that occurs within the company.
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9. The price of money
Suppose that Eric borrows $50,000 at 5% per year to purchase equipment for his business.
Complete the following table by calculating the amounts that Eric will have to repay in full if he borrows for three different periods (months), assuming compound interest.
I have completed the problem... is it correct?
I would appreciate a response as soon as possible.
The amounts Eric will repay in full (future value) if he borrows for three different periods (months) with compounding interest are:
Period Amount
(months) (Dollars)
35 $57,839
45 $60,297
50 $61,565.
What is the future value?The future value is the compounded present value of the borrowed credit.
We can use an online finance calculator to compute the future values for various periods.
Future Value at 35 months:N (# of periods) = 35 months
I/Y (Interest per year) = 5%
PV (Present Value) = $50,000
PMT (Periodic Payment) = $0
Results:
Future Value (FV) = $57,839
Total Interest = $7,839
Future Value at 45 months:N (# of periods) = 45 months
I/Y (Interest per year) = 5%
PV (Present Value) = $50,000
PMT (Periodic Payment) = $0
Results:
Future Value (FV) = $60,297
Total Interest = $10,297
Future Value at 50 months:N (# of periods) = 45 months
I/Y (Interest per year) = 5%
PV (Present Value) = $50,000
PMT (Periodic Payment) = $0
Results:
Future Value (FV) = $61,565
Total Interest = $11,565
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Licensing of the brand, a reputation for quality, and a large number of retail stores are examples of potential ______.
Licensing of the brand, a reputation for quality, and a large number of retail stores are examples of Potential Strength
A corporation receives money from licencing agreements, known as royalties, for enabling another company to utilize its copyrighted or patented content. Songs, sports team logos, intellectual property, software, and technology are a few examples of things that can be licensed. Granting legal authorization to do anything, such make a product, is referred to as licencing. The licence grants a right that the individual or business did not previously have. While certain licences are provided without charge, the majority demand money.
Knowledge, proficiency, abilities, and talents are examples of potential strengths. People use their characteristics and skills to carry out tasks, interact with others, and accomplish goals.
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which of the following are possible supply options for dealing with demand-capacity mismatches? multiple select question. new products pricing promotion inventories overtime part-time workers
Options 3rd, 4rth and 5th are correct. Inventory levels, overtime and part-time workers are possible supply options to address the mismatch between demand-capacity.
If you need to increase demand-capacity, your options include:
Pricing. Vary prices to increase demand when demand is below peak advertisement. Use advertising, direct marketing, and other forms of promotion to shift demand. Creation of new demand.
Capacity can be changed in the aggregate plan by mining and manufacturing additional products overtime. Offer does not change capacity. The challenge is balancing requirements and resources.
Strong medium-term demand forecast. Financial planning for production costs including raw materials, labor, inventory planning, etc. Organizational policies regarding work management, quality control, etc. Many factors contribute to demand volatility, including increased customer choice, product customization, rapid technological advancement, global competition, and fluctuations in upstream supply.
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Which of the following are ways to ensure fairness in the member roles and contributions in a group writing project? The group members should equally divide their contributions and time commitments. The group members should consider using a team charter to state the expectations for each member.
The group members should equally divide their contributions and time commitments. The group members should consider using a team charter to state the expectations for each member.
Ensuring fairness in the member roles and contributions in a group writing project can be achieved by dividing the work equally among all the members. This means that each member should take on an equal amount of writing and research responsibilities, as well as commit to an equal amount of time to the project. This ensures that no one member is overburdened with work and that everyone is contributing equally to the project.
Another way to ensure fairness in the group writing project is by using a team charter. A team charter is a document that outlines the expectations for each member, including their roles and responsibilities, as well as the overall goals and objectives of the project. This helps to ensure that everyone is aware of their role and is held accountable for their contributions. Additionally, it helps to keep everyone on the same page and working towards the same goals, which is crucial for the success of the project.
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Susan is the manager of a Burger King store. Which of the following actions would lead you to believe that Susan is not a modern manager?Susan trains her employees in customer service and tells them that they can decide how to resolve customer complaints. Susan tells her employees they will receive bonuses if they do their work according to company guidelines Susan asks her employees to work as a collaborative team, rather than being individual producers, Susan provides her employees with the resources they need to do their jobs effectively,
Susan is a branch manager at Burger King. Susan encourages her staff to work as a team and not as individual producers, which would mean that Susan is not a modern day manager. Option C is correct.
What is most important for a team working together?
Employees should be encouraged to share ideas, suggestions and concerns and to listen to each other in a collaborative work environment. Better teamwork, which translates into increased trust and, more importantly, increased team productivity.
What is the purpose of teamwork?
Your team's ability to collaborate and solve problems improves. This leads to more creativity, more efficient processes, more results and better communication. You can help each other achieve your goals by listening and learning from other team members.
Question is incomplete:
Susan is the manager of a Burger King store. Which of the following actions would lead you to believe that Susan is not a modern manager?
A. Susan trains her employees in customer service and tells them that they can decide how to resolve customer complaints.
B. Susan tells her employees they will receive bonuses if they do their work according to company guidelines
C. Susan asks her employees to work as a collaborative team, rather than being individual producers,
D. Susan provides her employees with the resources they need to do their jobs effectively,
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Based on the following passage, which of these structures is likely to have the shortest lifespan? Buildings sometimes live—and are lived in—for hundreds of years, barring unforeseen circumstances such as fires and natural disasters. Other buildings are designed to have a shorter lifespan, such as a football stadium, which rarely lasts longer than a single generation. city hall shopping mall apartment building mobile home
From the passage that we have here, the building that would have the shortest life span would be a mobile home. Last option.
What is a lifespan?In contrast to life expectancy, which is the average total number of years that a person lives, life span is defined as the greatest number of years that a person or item may live.
A species' life span, also known as longevity, is the amount of time it can survive under ideal circumstances.
Genetics, environment, and lifestyle all have an impact on the length of human life (longevity).
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e ksa methods of involving clients/client systems in problem identification (e.g., gathering collateral information
Social workers put a lot of effort into helping clients pinpoint their issues and areas of strength and developing their problem-solving skills.
Clients' definitions of problems should be respected, and they should be asked what they would like to alter in their life. Asking clients about the routes they would like to pursue to effect desired changes is a good idea. A crucial element of the psychiatric admission process is collateral information, which is gathered by clinicians from the patient's connections who are known to them. They are not directly connected to the client and may be different people or data. They offer statistics that can support the information the client gave the social worker. Social professionals can use this information to create successful treatment and intervention plans.
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which of the following refers to the elasticity calculated from the appropriate formula has an absolute value greater than 1?
The demand is elastic refers to the elasticity calculated from the appropriate formula has an absolute value greater than 1.
Option A is correct.
What is elasticity?Due to their tendency to be price-takers or those that are required to accept the prevailing prices, businesses that operate in industries that are subject to intense competition provide goods or services that are elastic. Sellers and buyers quickly adjust their demand for a good or service when the price reaches the point of elasticity. Inelasticity is the opposite of elasticity. Sellers and buyers are less likely to adjust their demand for a good or service when the price changes when the good or service is inelastic.Because it indicates how much a good or service buyers consume when the price changes, elasticity is an important economic measure, especially for businesses that sell goods or services. When a product is elastic, the quantity demanded changes quickly when the price changes. Even when the price of a good changes, there is little change in the amount of demand for the good when it is inelastic.Question incomplete:which of the following refers to the elasticity calculated from the appropriate formula has an absolute value greater than 1?
A.the demand is elastic.
B. the demand is inelastic
C. Perfectly elastic
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Suppose that a tariff is imposed on imported cheese. This will have the effect of____the price of cheese.______surplus and______ producers' surplus. a. increasing, increasing: increasing b. decreasing: decreasing: decreasing c. increasing: increasing decreasing d. increasing: decreasing: increasing e. decreasing; decreasing: increasing
Suppose that a tariff is imposed on imported cheese. This will have the effect of increasing the price of cheese, decreasing consumers' surplus, and increasing producers' surplus.
What is consumer surplus?
In economics, the consumer surplus is the difference between the price a consumer pays for a good and the price he would be willing to pay rather than go without it. It is also referred to as social surplus and the consumer's surplus. The market equilibrium is the point at which a price stabilises, ensuring that both consumers and producers get the maximum surplus in an economy.
How does producer surplus work?
The difference between the price the producer is willing to sell his goods for and the price he actually receives from the sale is known as the producer surplus. A measure of producer welfare is producer surplus.
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