Answer:
<em>1. When the price of fresh fish increases 5%, quantity demanded decreases 10%. The price elasticity of demand for fresh fish is elastic.</em>
<em>2. The determinants of elasticity include d) all of the above.</em>
<em>3. Cross-price elasticity of demand measures the response in the d) quantity of one good demanded to a change in the price of another good.</em>
<em>4. A value of price elasticity of demand equal to 2 means that b) quantity demanded falls by two times the amount of an increase in price.</em>
Explanation:
<em>Price elasticity of demand = % change in quantity demanded of a good / % change in price of the good</em>. Value greater than 1 implies quantity demanded is price elastic, equal to 1 implies quantity demanded is price unitary elastic and smaller than 1 implies quantity demanded is price inelastic.
<em>Cross Price Elasticity of demand = % change in quantity demanded of a good / % change in price of another good</em>.
For rest, refer to the answer.
The both work in the Energy Generation career pathway.
Machinery and machine quipment also buildings
Answer:
Consider the following explanation
Explanation:
Because a large scale production reduces the average cost, it brings economies of scale. Hence for a public water company select economies of scale
For taxis the requirement of obtaining a licensing is a legal barrier created by the government. Hence select government created monopoly
In the last case the company controls a key resource so select exclusive control over a key resource.
Wait for their next tour after the pandemic is over, purchase meet and greet tickets.