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Mumz [18]
2 years ago
6

f the price of orange juice rises 10%, and as a result the quantity demanded falls by 8%, the price elasticity of demand for ora

nge juice is
Business
1 answer:
shusha [124]2 years ago
4 0

If the quantity demanded falls by 8%, the price elasticity of demand for orange juice is inelastic.

<h3>Price elasticity of demand</h3>

Using this formula

Price Elasticity of demand = Percentage change in demand/percentage change in price

Let plug in in the formula

Price Elasticity of demand=-0.08/0.10

Price Elasticity of demand=-0.8 (inelastic)

Therefore if the quantity demanded falls by 8%, the price elasticity of demand for orange juice is inelastic.

Learn more about  Price elasticity of demand here:brainly.com/question/5078326

#SPJ1

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A difference between people-processing services and possession-processing services is that possession-processing services:
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b. do not require customers to enter the service factory.

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3 years ago
If the consumer price index was 170 in one year and 180 in the next year, then the rate of inflation is approximately:
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8 0
3 years ago
Read 2 more answers
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4 0
4 years ago
Falcon Crest Aces (FCA), Inc., is considering the purchase of a small plane to use in its wing-walking demonstrations and aerial
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Answer:

Net present value at 8%=($42510)

Explanation:

Explanation- Net present value   = Present value of cash inflows – Total outflows

={(19000*6.7100) - $170000}

=$127490- $170000

= ($42510)

Annual net cash inflows = Net income+ Depreciation

= $4000+$15000

= $19000

Straight line Method:-

= Cost of asset- Salvage value of asset/No. of useful life (years)

=($170000-$20000)/10 years

=$150000/10 years = $15000

Net present value at 3%=($7926)

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={(19000*8.5302) - $170000}

=$162074- $170000

= ($7926)

Annual net cash inflows = Net income+ Depreciation

= $4000+$15000

= $19000

Straight line Method:-

= Cost of asset- Salvage value of asset/No. of useful life (years)

=($170000-$20000)/10 years

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