Answer:
The correct answer is more inelastic; more elastic.
Explanation:
Inelastic demand is that demand that is not very sensitive to a change in price. In this way, before a variation in the price the quantity demanded reacts in a less than proportional way. For example, if the price increases by 10% and in response the quantity demanded is reduced by less than 10%, then the demand is said to be inelastic.
The elasticity of demand, also known as the elasticity-price of demand, is defined as the percentage change of the quantity demanded before a percentage change in the price.
An elastic demand is that demand that is sensitive to a change in price. In this way, a small variation in the price causes a more than proportional change in the quantity demanded. Thus, for example, if the price increases by 10% and in response the quantity demanded is reduced by more than 10%, then the demand is said to be elastic.
Answer:
c. A tractor manufacturer’s demand for assembly-line workers is inseparably linked to the supply of tractors
Explanation:
Derived demand is when the demand for a good, service or labour is as a result of demand for another good or service.
The demand for assembly line workers is as a result of demand for tractors. If there was no demand for tractors ,there would be no need to employ assembly line workers.
I hope my answer helps you.
Answer:
The information provided to Kanska was insufficient.
Explanation:
The onus was on the company to provide all the necessary information for Kanska to work with.
An application development firm only creates applications based on the requirements gathered from clients and if clients don't divulge all necessary information, there is bound to be dissatisfaction in service when the mobile application is provided.
Answer:
$1,840
Explanation:
In order to calculate the Marginal cost of producing the computers in 2nd hour of work, we need to add the marginal cost of computer and marginal cost of wage in the 2nd hour of work.
MC = MC(computers) + MC(wage)
MC = $1,800(w) + $40
MC = $1,840
Working
MC (computers ) = 3 x 600$ = $1,800
hour computers assembled
1st 4
2nd 7
If pam works 2 hours she can assemble 7 computers but she already assembled 4 computers in 1st hour.
So the 2nd-hour computers will be 3 ( 7 - 4) computers.
