Response:
C. a 5% reduction in price results in a 7.5% rise in quantity demanded
Clarification:
To arrive at this conclusion, we utilize the price elasticity of demand equation
Price elasticity = %change in quantity demanded/% change in price
Next, we substitute the relevant values into the equation
1.5 = 7.5% / 5%
This confirms that the proper answer is C as dividing 7.5 by 5 yields a value of 1.5.
An elasticity value of 1.5 indicates that the product is fairly elastic: implying the quantity demanded will adjust more significantly than the price. This is evident in the current scenario: quantity demanded increased by 7.5%, while the price only decreased by 5%.
Answer:
Defense Coordinating Officer (DCO)
Explanation:
Indeed, according to details on FEMA's website, a Defense Coordinating Officer (DCO) is positioned in strategic locations, specifically within each of the ten Federal Emergency Management Agency (FEMA) regions.
SOURCE: (https://training.fema.gov/hiedu/06conf/06papers/young,%20col%20leverm%20-%20dco%20catastrophe%20response%20and%20readiness.pdf)
In this scenario, we can determine that approximately 38% of women prepared dinner daily in 2014.
Option: B
Explanation:
A survey was carried out by a social network, focusing exclusively on its female user base. Hence, if we take the total number of female users as 100%, then 38% responded positively to the inquiry. Therefore, it cannot be classified as a stratified survey, as it catered solely to female users.
It's also incorrect to label it as undercoverage because it specifically targeted female users of that network, not the overall population of women worldwide. Furthermore, the sample size cannot be considered small . Since whenever the survey results are cited, it's explicitly stated that only Pushpin female users were surveyed.
