Answer to Question 1
The elasticity of supply measures the responsiveness of the quantity supplied to a change in the price of a good when all other influences on selling plans remain the same. The elasticity of supply is calculated by the percentage change in the quantity supplied divided by the percentage change in the price.
Answer to Question 2
Losses are acceptable in the short run because even if it is not possible to make a normal or economic profit the goal is to minimize losses. In the short run this would happen when the price is below average total cost but still above average variable cost. In the long run the goal is to make at least normal economic profit. Since this is the minimum that one would expect to earn in the long run losses are not acceptable.
Some drug labels show the USP symbol; others do not.
The Hepatic Portal Blood Supply The liver receives water, minerals, and nutrients from the digestive
The scan tool can display various voltage but will often show 3.3 volts because the PCM is ...
Blood Supply of the Liver
If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas?
Suppose a country imports televisions. The country's supply and demand curves are shown in ...