Answer: Company Pays $1640
Carol Bryd pays $410
Explanation:
The total bill is $2300 and the deductible needs to be taken out.
$2300-$250
=$2050
Company Payment.
Company Pays 80% which translates to 0.8
0.8*2050
= $1640 is the company Payment.
Carol then pays the difference which is
$2050 - $1640
= $410
Carol pays $410
Answer:
(a) $ 1200
(b) $ 702.5
Explanation:
In the demand and supply curve, the price of goods and services changes with respect to market conditions such as scarcity and consumers' needs. In the problem, if the producers charge about $497.50, the scalper will definitely charge a price higher than that of the producers, in this case, $1200. Thus, this is $702.5 (i.e. $1200 - $497.50) more than the producers' charge.
Answer:
the price elasticity of supply is 0.555
Explanation:
The computation of the price elasticity of supply is given below:
= Percentage change in quantity supplied ÷ percentage change in price
= (25 - 20) ÷ (25 + 20) ÷ 2 ÷ (750 - 500) ÷ (750 + 500) ÷ 2
= 5 ÷45 ÷ 250 ÷ 125
= 0.555
Hence, the price elasticity of supply is 0.555
The same is relevant
