In 1916, the ford motor company sold 500,000 model t fords at a price of $440. henry ford believed that he could increase sales of the model t by 1,000 cars for every dollar he cut the price. use this information to calculate the price elasticity of demand for model t fords. use the midpoint formula in your calculation. assuming the price decreases by $1 and the quantity increases by 1000 cars, the price elasticity of demand for model t fords is nothing (enter your response rounded to two decimal places).

Acompany factory is considered which type of resource a. land b. physical capital c. labor d. human capital

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

Why should managers invest any excess cash