Answer:
The elasticity of supply for hot cocoa is 1.43.
(D) Supply in the market for coffee is less elastic than supply in the market for hot cocoa
Explanation:
Using the midpoint formula,
Elasticity of supply for hot cocoa = (change in quantity supplied/average quantity supplied) ÷ (change in price/average price)
change in quantity supplied = 101 - 31 = 70
average quantity supplied = (101+31)/2 = 66
70/66 = 1.06
change in price = 9.75 - 4.5 = 5.25
average price = (9.75+4.5)/2 = 7.125
5.25/7.125 = 0.74
Elasticity of supply for hot cocoa = 1.06 ÷ 0.74 = 1.43. The supply for hot cocoa is elastic because the elasticity of supply is greater than 1.
Elasticity of supply for coffee = (73 - 31)/(73+31)/2 ÷ 0.74 = 42/52 ÷ 0.74 = 0.81 ÷ 0.74 = 1.09. The supply for coffee is elastic because the elasticity of supply is greater than 1.
However, supply in the market for coffee is less elastic than supply in the market for hot cocoa because the elasticity of supply for coffee is less than that of hot coffee.
Answer:
B) 1,160.
Explanation:
First we must calculate planned aggregate expenditures (PAE) and then determine where Y = PAE:
PAE = consumption + planned investment + government spending + net exports = 100 + 0.75(Y - 40) + 50 + 150 +20 = 100 + 0.75Y - 30 + 50 + 150 + 20 = 290 + 0.75Y
Now we must determine where Y and PAE intercept:
Y = 290 + 0.75Y
Y - 0.75Y = 290
0.25Y = 290
Y = 290 / 0.25 = 1,160
*Planned aggregate expenditure = total planned spending, it differs from GDP because GDP includes unplanned investment.
PAE = C + Ip + G + NX while GDP = C + I + G + NX
Answer:
(C) the intended use of a product.
Explanation:
Implied as the term means that it is obvious, further guarantee means that the guarantee is obvious.
Now, this is because of the use of the product, as for example there is an equipment called heater, which is generally sold in winters, as it warms the room.
Now it is implied that the heater shall at-least be in proper condition and shall work without any failure for one season of winters.
The correct answer is,
Statement C
The amount generated from the investment with simple interest is calculated through the equation,
F = P x (1 + in)
where F is the future amount, P is the present worth, i is the decimal equivalent of the given interest and n is the number of interest period.
From this item it can be identified that,
P = $10,500
i = 0.06
n = 4
Substituting the known values,
F = ($10,500) x (1 + (0.06)(4))
<em> F = $13020</em>
Therefore, after four years, the amount of money that Alex will have is $13,020.
Its like renting but you have the option to buy at the end i believe.
