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Debora [2.8K]
1 year ago
13

Suppose that when the price of gasoline is $3 per gallon, the total amount of gasoline purchased in the united states is 8 milli

on barrels per day. also suppose that when the price of gas decreases to $2.25 per gallon, the total amount of gasoline purchased is 12 million barrels per day. based on these numbers and using the midpoint formula, the percentage change in the quantity demanded is:
Business
1 answer:
mina [271]1 year ago
5 0

Assuming  the total amount of gasoline purchased is 12 million barrels per day. The percentage change in the quantity demanded is: 50%.

<h3>Percentage change in the quantity demanded</h3>

Using this formula

Percentage change in quantity demanded= (Total amount of gasoline purchased- total amount of gasoline purchased in united states)/ Total amount of gasoline purchased in united states×100

Let plug in the formula

Percentage change in quantity demanded=(12 - 8) / 8

Percentage change in quantity demanded =4/8×100

Percentage change in quantity demanded=50%

Inconclusion  the percentage change in the quantity demanded is: 50%.

Learn more about  percentage change in the quantity demanded here:brainly.com/question/25364127

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mamaluj [8]

first party is the one that I would do

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2 years ago
An outward shift of a nation's production possibilities frontier can occur due to
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Answer:

The correct answer is option D.

Explanation:

Production possibility frontier shows the different amounts of two goods that can be produced using fixed resources.

An outward shift in the production possibility frontier imply that production of output is increasing.

Production may increase because of increase in inputs.

Here, the shift in production is happening because of increase in labor force.

8 0
2 years ago
Population growth: Suppose the world population today is 7 billion, and sup- pose this population grows at a constant rate of 3%
Alika [10]

Given Information:

Current Population = P₀ =  7 billion = 7x10⁹

Growth rate = r = 3 %

Period = t = 100 years

Required Information:

(a) Population after 100 years = ?

(b) Population after t = 0, 1, 2, 10, 25, 50 years = ?

(c) Population vs time graph = ?

Explanation:

The human population growth can be modeled as an exponential growth,

P = P_{0} e^{rt}

where P₀ is the current population, r is the growth rate and t is the time period

(a) What would the population equal 100 years from now?

P = 7x10^{9} e^{0.03*100}

P = 140.6x10⁹  

(b) Compute the level of the population for t = 0, t = 1, t = 2, t = 10, 25, and t =50

<u>t = 0</u>

P = 7x10⁹e⁰

P = 7x10⁹  

<u>t = 1</u>

P = 7x10⁹e^0.03*1

P = 7.213x10⁹

<u>t = 2</u>

P = 7x10⁹e^0.03*2

P = 7.423x10⁹

<u>t = 10</u>

P = 7x10⁹e^0.03*10

P = 9.45x10⁹

<u>t = 25</u>

P = 7x10⁹e^0.03*25

P = 14.82x10⁹

<u>t = 50</u>

P = 7x10⁹e^0.03*50

P = 31.37x10⁹

(c) Make a population versus time graph

Attached as image

5 0
2 years ago
Compare your results to the industry ratios and describe what NMC should do to improve its position in the market.
docker41 [41]

Answer:

sorry need points ok.

Explanation:

sorry talaga ha

pero wag kayong magalit

  1. ayaw kasuko
  2. wag kang magalit
  3. never angry

7 0
2 years ago
Sales in North Corporation increased from $80,000 per year to $84,000 per year while net operating income increased from $30,000
igor_vitrenko [27]

Answer:

4 times

Explanation:

Given that,

Initial sales = $80,000

New sales = $84,000

Initial net operating income = $30,000

New net operating income = $36,000

The degree of operating leverage is determined by dividing the percentage change in net operating income by the percentage change in the sales.

Percentage change in net operating income:

= [(New net operating income - Initial net operating income) ÷ Initial net operating income] × 100

= [($36,000 - $30,000) ÷ $30,000] × 100

= ($6,000 ÷ $30,000) × 100

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= 20%

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= [(New sales - Initial sales) ÷ Initial sales] × 100

= [($84,000 - $80,000) ÷ $80,000] × 100

= ($4,000 ÷ $80,000) × 100

= 0.05 × 100

= 5%

Degree of operating leverage:

= Percentage change in net operating income ÷ Percentage change in sales

= 20 ÷ 5

= 4 times

3 0
3 years ago
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