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A. A large proportion of the petrol South Africa consumes is imported.
B. Petrol is a luxury product
C. Households spend a small proportion of their income on petrol.
D. There is no close substitute for petrol
A. Arise or drop in price will have no discernable impact on SAA's total revenue
B. A rise in price will decrease SAA's total revenue in the peak travel months.
C. A drop in price will decrease total revenue in the off peak months and increase total revenue in the peak travel months
D. A rise in price will increase SAA's total revenue in the off peak months, but will decrease total revenue in the peak travel months.
A. Unitary elastic
B. Perfectly elastic
C. Elastic
D. Inelastic
A. the responsiveness of the quantity demanded of a good to changes in the price of the good.
B. the slope of the demand curve.
C. how sensitive the quantity demanded of a good is to changes in income.
D. how sensitive the price is to changesin the quantity demanded.
3. A perfectly inelastic demand
3. You are told that the demand for Iwisa maize meal is more price elastic that the demand for all maize meal as a whole. Which of the following correctly explains this statement?
A. maize meal is a necessity.
B. Iwisa maize meal is a luxury product.
C. There are more substitutes for Iwisa maize meal than for maize meal as a whole.
D. There are fewer substitutes for Iwisa maize meal than for maize meal as a whole.
Identify two factors that have the least contribution to South Africa's global flows and trade and explain why you believe so
CE construction strategies on attracting clients by giving them installment options on properties woth minimum contract of 10M. The installment scheme allows the client to pay P400,000 quarterly for the first 3 years and P850,000 semi-annually for 5 years starting on the 6th period. If the effective rate of interest is 4.55%. Find the contract price
Relationship between total revenue (TR) and marginal revenue (MR).
Quantity Price Total revenue Average revenue Marginal revenue
50 200 10000 50 10000
60 150 9000 60 1000
70 100 7000 70 2000
80 50 4000 80 3000
90 10 900 90 3100
1. If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, using the formula for arc price elasticity
i. What is the percentage change in price?
ii. What is the percentage change in quantity?
iii. What is the level of elasticity?
iv. What is the interpretation the result
#339914 on Dec 2023