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- What is meant by accomodating items?llustrate a generic demand and supply curveIn this time of pandemic, the demand of some products increased rapidly. Give examples ofthese products where the demand increased. Did the supply correspond with the increasingdemand of these products? What solutions were made to satisfy the increasing demand of theseproducts?
- Your Best Brand Bike Shorts-BBB Shorts have been flying off the shelf. Your chiefeconomist tells you that during the Covid-19 pandemic, the taste for bicycling has shifted. Thedemand curve is much more inelastic. The price elasticity of demand has decreased from:-5.76 to -2.70.”Before the campaign your price was $240 per pair of BBB Shorts. What should bethe new price? Please show calculations.Articulate how economic factors influence acustomer’s ability and willingness to buy productsANCOSA The cost of one modern heavy bomber is this: a modern brick school in more than 30 cities. It is two electric power plants, each serving a town of 60,000 population. It is two fine, fully equipped hospitals. It is some 50 miles of concrete highway." Source: https://www.juneauempire.com/opinion/opinion-guns-vs-butter-and-greed-over-all/ Accessed: 14/08/22 The dilemma that all nations confront in the above example is that... A. an increase in national defence is only possible if we produce more civilian goods and services. B. civilian goods and services can only be produced if we have adequate protection from the military. C. an increase in spending in national defence implies more sacrifices of civilian goods and services. D. spending in national defence can be accomplished using the same resources at the same time. Assume that coffee and tea are substitutes. Derrick and Thandi are vendors at the station. Derrick sells tea and Thandi coffee. They usually sell these drinks at R5…
- When would consumers and producers experience increased difficulty in coordinating their plans9 21 BBM_MI22 APF X Recordings - Onel x Calendar - Armstro X Mail - Armstrong, X Topic: Economic E X Recordings - Onel x Price Elasticity of C X + structure.com/courses/967/assignments/14531 4.2 Based on your answer in 4.1., illustrate and explain the elasticity of demand in the market for high blood pressure medication. Clearly indicate the correct percentage changes in price and quantity on the elasticity graph. (3) 4.3 Explain how Beta-Blockers can increase total revenue (TR). Question 5: [5] Read the following scenario and answer the succeeding questions. Scenario 4: Suppose the average income of a consumer named Warren decrease from R18000 to R12000. As a result, the quantity of product A demanded by Warren increase from 200 units to 280 units. For scenario 4, answer the following questions: 5.1 Use the ARC (midpoint) formula to calculate the income elasticity of demand for product A given the information above. (3) 5.2 Based on your answer in 5.1, is product A an inferior good or…What are the anatomy of cruise