What is the "cost disease of personal services" phenomenon and why does it help explain why tuition rates keep going up so fast?

Q: What is meant by accomodating items?

A: We know well that in autonomous transactions there occur deficits or surplus which are to be covered…

Q: How can price elasticity of demand help government and hypermarket manager  Pls provides examples

A: The demand for the goods and services comes from the demand side of the markets. In the markets, the…

Q: Services are perishable, which means they cannot be stored or inventoried. What attempts might a…

A: Economics as a subject is used to study and plan the allocation of scarce resources among humans…

Q: Predict how each of the following economic changes will affect the equilibrium price and quantity in…

A: Demand: - Demand is the relationship between the quantity demanded and the price of a good. There is…

Q: How has Demand and Supply shaped the education industry ?

A: Demand for education has increased drastically due to the development of industry and corporate…

Q: explain how and when demand and supply have changed (shifted) for online shopping. Provide examples…

A: Online shopping has grown in volume in recent years. It was not too many years ago when people used…

Q: With consideration for elasticity (especially PED), what would be one industry in which the…

A: A subsidy is a form of financial support provided by the government to an economic sector in order…

Q: What are some other examples of elasticity that can be affected by time?

A: Elasticity could be a general measure of the responsiveness of an economic variable in response to a…