What happens to revenue when demand is elastic?

What happens to revenue when demand is elastic? If demand is elastic at a given price level, then should a company cut its price, the percentage drop in price will result in an even larger percentage increase in the quantity sold—thus raising total revenue. What happens to the total expenditures for a product with elastic […]

What is the effect of stereotypes on our society or country?

What is the effect of stereotypes on our society or country? Possible prejudicial effects of stereotypes are: Justification of ill-founded prejudices or ignorance. Unwillingness to rethink one’s attitudes and behavior. Preventing some people of stereotyped groups from entering or succeeding in activities or fields. What is a label stereotype? When a majority of people hold […]

What is the main theme of the Mayflower Compact?

What is the main theme of the Mayflower Compact? The agreement set forth principles of a self-governed body not completely separate from the King of England. The Mayflower Compact continued the idea of law made by and for the people. This idea lies at the heart of democracy and made a significant contribution to the […]

What was the human impact of the Great Depression?

What was the human impact of the Great Depression? The most devastating impact of the Great Depression was human suffering. In a short period of time, world output and standards of living dropped precipitously. As much as one-fourth of the labour force in industrialized countries was unable to find work in the early 1930s. How […]

Why should fossil fuels be used wisely?

Why should fossil fuels be used wisely? 1 Answer. We should use fossil fuels judiciously because: (i) Fossil fuels (Coal and petroleum) left in the earth are limited which will get exhausted soon. (ii) The products of combustion of fossil fuels pollute the environment. Why should we conserve fossil fuels Class 5? However, fossil fuels […]

Which colonial region is known for small farms?

Which colonial region is known for small farms? Although there were many plantations in the southern colonies, most of the colonies were full of small farms. These farms were also spread out, and instead of being along the coast, they were in the backcountry. The backcountry was the area considered the piedmont, just beyond the […]

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