Answer:
Based on the information supply of cards is more elastic (price sensitive) than that of roses
Explanation:
Price elasticity of supply is defined as the sensitivity of quantity supplied to changes in price.
The formula is given below
Price elasticity of supply= Change in quantity supplied ÷ Change in price
In this scenario the demand for both roses and cards increases, however the price of roses increases more.
This implies that the denominator in the formula is higher in roses resulting in smaller price elasticity of supply.
The elasticity of supply for cards is higher than that of roses, so it is more sensitive to changes in price.
Cards can be stored from year to year so the labour for maintaining a stock of cards is low with resultant low price.
On the other hand roses require care to grow. It requires watering, application of chemicals to treat infestation and so on. So suppliers tend to push the extra cost of growing roses to the buyers
Answer: Altruism
Explanation: It refers to the behavior when an individual considers the benefit of other more important than the self benefit.
In the given case, the hotel chain has the sole purpose of providing best services to its customers. They are not ready to forego their dedication towards service even if it results in loss of their market share.
It is not a case of excellence as they are not charging extra for the same service to increase their profits.
Hence from the above we can conclude that the correct option is D.
Answer:
The answer is D. Lagging Adopters
Explanation:
Lagging Adopters is the answer because, this group is slow to adapt to new ideas or technology. They tend to adopt only when they are forced to or because everyone else has already.
Answer:
a. has chosen to participate in the labor market.
Explanation:
The formula to compute the labor-force participation rate is shown below:
Labor- force participation rate = Labor force ÷ Population of working age
By dividing the labor force with the Population of working age so that the labor force participation rate could come
Therefore, the option a is correct as it defines the participated in the labor market
