3. If the price elasticity of demand is equal to 0.5, is demand elastic, inelastic, or unitary elastic? 4. Will a perfectly elastic supply curve be vertical, horizontal, or upward- sloping? 5. What price elasticity of supply will lead to a smaller increase in quantity when price changes– elastic, inelastic, or unitary elastic?

Q: Remember that Molly has a $2500 down payment saved for this purchase. The dealer will take the $500…

A: The loan is the amount of money which would result in the amount of money borrowed and used for…

Q: How does the credit card company calculate the interest payment?

A: The credit card has been an important tool to increase the purchasing power. This facility has…

Q: Why would someone choose a fixed rate loan over a variable rate loan?

A: In the field of economics, a loan is defined as the act of lending money or resources by one party…

Q: The table below demonstrates the total utility Terrence derives from eating different quantities of…

A: Total utility is the total satisfaction that a consumer gets on consuming a good or service, whereas…

Q: describe something you can do to increase your savings for retirement.

A: Retirement: It is the point of time where someone stops working.

Q: The South Korean Government in the 1970s decided to follow a strategy of increased investment in…

A: Scarcity refers to the limited availability of resources, that are used to produce goods and…

Q: The advantage of a loan is that: its transaction costs are low. it can be tailored to the needs of…

A: Loan: A loan is a sum of money borrowed from a lender with the agreement that it will be repaid,…

Q: What is Retirement Savings in Canada and what is its importance?

A: Retirement savings in Canada refers to the money that individuals set aside during their working…

Q: Luis and his best friend Faith want to spend as much time as possible at the local amusement park…

A: The objective of the question is to find out how much Faith will owe Luis after they buy season…

Q: could you show how to determine the bond's present value without a calculator?

A: When interest rate rises to 4%: Given, Face value= future value= $1,000 Yield to maturity= 4% Time=…

Q: Summarizes some of the interest formulas?

A: Simple interest = (P*R*T)/100 where, P : Principal amount            R : Rate of interest per annum…

Q: why is it critical for consumers to truly understand the effect of interest on their credit cards?

A: A credit card is a payment card that enables the owner to borrow funds to pay for purchases. Since…

Q: Discuss credit card safety and precautions?

A: A credit card is a plastic card issued by a financial institution, typically a bank, that allows the…

Q: how does evonomics play a role in policy or public discussion related to having a car

A: A central bank refers to a financial institution that acts as the primary authority responsible for…

Q: How Do You Manage Your Credit Card Debt?

A: Credit cards have become a everyday part of our lives and is convenient to use. It is often, that we…

Q: What are other ways to invest in Real estate? Are they long term or short term?

A: Real estate refers to land and any physical property or structures that are permanently attached to…

Q: How does the bank offer two repayment plans?

A: Loan repayment is an act followed by the borrower to pay back the borrowed amount to the lender. The…

Q: What does the interest rate you determine represent?

A: The interest is a specific percentage of the principal amount that is lent, borrowed, or deposited…

Q: Do the credit card interest rates vary with creditworthiness? how?

A: Yes, the credit card interest rates vary with creditworthiness.  To set the interest rate on the…

Q: What is the Deferred Savings Plan?

A: A  deferred savings plan is a plan  which allows the taxpayer to pay money in  the plan and  then…