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.
Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r
The structural formulas show the state of ionization that would predominate at pH 7.0
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Bereaved spouses studied before loss, at the time of loss, and 18 months after loss show five ...
Classic Supply - Demand Curve
Marginal Supply - Demand Curve