Answer:
1.6 Q1 + 0.875 Q2 = $56
Explanation:
Budget constraint equation represents the total budget allocation to different activities under consideration.
old Budget Constraint
Q1 + Q2 = $56
New Budget Constraint
(Q1)*8/5 + (Q2)*7/8 = $56
(Q1)*1.6 + (Q2)*7/8 = $56
(Q1)*1.6 + (Q2)*0.875 = $56
1.6 Q1 + 0.875 Q2 = $56
So best answer made based on data available.
Answer:True
Explanation:
A significant risk device presents a potential for serious risk to the health, safety, or welfare of a subject.
It is classified as Significant risk device since it hopes that the new pacemaker will pose fewer risks to individuals when compared to the current commercially available product.
Answer:
Price elasticity of demand is -1
Explanation:
Price elasticity of demand is defined as the degree of responsiveness of quantity demanded to changes in the price of a product. It is calculated by finding ratio of percentage change in demand to percentage change in price.
Percentage change in demand= (80-100)/100= -20/100
Percentage change in demand= -0.2
Percentage change in price= (12-10)/10
Percentage change in price= 2/10= 0.2
Elasticity= Percetage change in quantity demanded/ percentage change in price
Elasticity= -0.2/0.2= -1
Answer:
Economic Freedom
Explanation:
Economic freedom is the fundamental right of every human to control his or her own labor and property. In an economically free society, individuals are free to work, produce, consume, and invest in any way they please.
<h3><u>Question</u><u>:</u><u>-</u></h3>
A man buys a laptop for £540 and sells it for £615. Find his loss or profit.
<h3><u>Answer</u><u>:</u><u>-</u></h3>
The man had a profit of £75
<h3><u>Explanation</u><u>:</u><u>-</u></h3>
Cost price = £540
Selling price = £615
▶️Profit = Selling price - Cost price
▶️Profit = £615 - £540
▶️ Profit = £75