Business, 09.07.2019 13:40 amcalfie

Assume that when the price of good x is $5.00, the quantity demanded is 20 units. when the price is decreased to $3.00, the quantity demanded increases to 20 units. under these circumstances, the demand is: a. elastic. b. unit elastic. c. perfectly elastic. d. inelastic.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 21:30, qhenley

An office manager is concerned with declining productivity. despite the fact that she regularly monitors her clerical staff four times each day—at 9: 00 am, 11: 00 am, 1: 00 pm, and again at 3: 00 pm—office productivity has declined 30 percent since she assumed the helm one year ago. would you recommend that the office manager invest more time monitoring the productivity of her clerical staff? explain.

Answers: 3

continue

Business, 22.06.2019 21:20, eichlingkera13

Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.

Answers: 1

continue

Business, 22.06.2019 21:50, elijahjacksonrp6z2o7

The third program provides families with $50 in food stamps each week, redeemable for both perishable and nonperishable food. the fourth policy instead provides a family with a box of nonperishable foods each week, worth $50. use two graphs to illustrate that a family may be indifferent between the two programs, but will never prefer the $50 box of nonperishable foods over the $50 in food stamps. state your answer and use a consumer choice model for perishable food and nonperishable food to graphically justify your choice.

Answers: 1

continue

Business, 22.06.2019 21:50, nakarelinp0p303

scenario: hawaii and south carolina are trading partners. hawaii has an absolute advantage in the production of both coffee and tea. the opportunity cost of producing 1 pound of tea in hawaii is 2 pounds of coffee, and the opportunity cost of producing 1 pound of tea in south carolina is 1/3 pound of coffee. which of the following statements is true? a. south carolina should specialize in the production of both tea and coffee. b. hawaii should specialize in the production of tea, whereas south carolina should specialize in the production of coffee. c. hawaii should specialize in the production of coffee, whereas south carolina should specialize in the production of tea. d. hawaii should specialize in the production of both tea and coffee.

Answers: 1

continue

You know the right answer?

Assume that when the price of good x is $5.00, the quantity demanded is 20 units. when the price is...