BUSINESS HIGH SCHOOL

if the price elasticity of demand for food is less then 1 (inelastic), an increase in supply due to an improvement in technology will result in a ______ price and _______ in total revenue.

Answers

Answer 1
Answer:

Answer:

... an increase in supply due to an improvement in technology will result in a lower price and decrease in total revenue.

Explanation:

Price Elasticity of Demand = % change in quantity demanded / % change in price

When elasticity < 1, % change in price will be larger than % change in quantity demanded.

Increase in supply means increase in quantity to be sold. There will be a larger decrease in price (Normally when price rises quantity demanded falls and vice versa)

Revenue = Price x Quantity => when price decreases more than quantity increases, revenue will fall

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Answers

The name of the program she is in is DUAL CREDIT.
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I NEED HELP WITH MY ECON IM SO CONFUSED it’s a matching the letter assignment

Answers

Answer:

yes one would he confused with such a paper like this one.

Explanation:

Try asking your teacher for some guidence

A group of companies bound together to fix prices is called...?

Answers

That's a 'cartel'.  It's illegal in the US.  It's also, mean, nasty, and not fair.

A place where people exchange goods and services is called a _____.competitor
market
value

Answers

            Aplace where people exchange goods and sevices isa called a market.
An actual or place where forces of demandand supply operate, and where buyers and sellers interact totrade goods, services, or contracts or instruments, for money or barter. Marketsinclude mechanisms or means for, determining price of the traded item, communicatingthe price information, facilitating deals and transactions, anddistribution. The market for a particular item  is made up of existing andpotential customers who need it and havethe ability and willingness to pay for it.

This answer to this question is Market.

The Waverly Brush Company issued 4,000 shares of common stock worth $200,000.00 total. What is the par value of each share?a. $40
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Answers

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The right answer for the question that is being asked and shown above is that: "c. limited-payment." With limited-payment insurance, the insured agrees to pay a specific premium each year until death.

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Answers

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