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ss7ja [257]
2 years ago
11

Assume the price elasticity of demand for a product is 0.6. When the price is $15, consumers buy 50 units of the good. If the pr

ice decreases by twenty percent, how many units will consumers buy
Business
1 answer:
Igoryamba2 years ago
6 0

The consumer will buy 56 Units

Procedure to solve

Δp = 20% of 15

Δp = 20/100 × 15

Δp = 3

e = 0.6

Formula:

e = (Δq/Δp)×p/q

0.6 = (Δq/-3)×15/50

0.6 × (-3) = Δq × 0.3

Δq = 1.8/0.3 = 6

Price decreases and quantity increases

Therefore

q' = q+Δq

q' = 50+6

q' = 56

p is the given price, q is the given quantity, Δp is the change in price, Δq is the change in quantity, e is the elasticity, q' is the new quantity.

Price Elasticity

The price elasticity of demand can be said to be an economic measure of the increase in the quantity of commodity demands or consumes in relationship to its change in price.

The price elasticity of demand refers to the percentage change in the quantity demanded of goods divided by the percentage change in the price.

Learn more about elasticity here:

brainly.com/question/14450755

#SPJ4

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13. A ground state hydrogen atom absorbs a photon of wavelength 94.98 nm and its electron attains a higher energy level. The ato
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Answer:

wavelength of the second photon emitted is 97.26 nm

Explanation:

Data provided;

Wavelength absorbed = 94.98 nm

Wavelength of the one of the emitted photon = 4052.3 nm

Now,

The energy is given as:

Energy = \frac{\textup{hc}}{\lambda}

here,

h is the plank's constant

c is the speed of the light

λ is the wavelength

Now,

by the principle of conservation of energy

Initial energy = Final energy

Therefore,

\frac{\textup{hc}}{94.98} = \frac{\textup{hc}}{4052.3} + \frac{\textup{hc}}{\lambda_1}

or

\frac{\textup{hc}}{\lambda_1}= \frac{\textup{hc}}{94.98} -  \frac{\textup{hc}}{4052.3}

or

\frac{\textup{1}}{\lambda_1}= \frac{\textup{1}}{94.98} -  \frac{\textup{1}}{4052.3}

or

\frac{\textup{1}}{\lambda_1} = 0.0105 - 2.46 × 10⁻⁴

or

\frac{\textup{1}}{\lambda_1} = 0.01028

or

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the wavelength of the second photon emitted is 97.26 nm

6 0
3 years ago
Which of the following describes the substitution effect of a price change?A) The change in demand that results from a change in
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Answer:

The answer is D. The change in quantity demanded of a good that results from a change in price, making the good more or less expensive relative to other goods, holding constant the effect of the price change on consumer purchasing power

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Substitution effect is a concept in which, as the price of a good or service increases, less of the good or service is substituted for other less expensive.

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Option A. is wrong because we are talking about the quantity demanded and not just demand. (Please take note).

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Construction is not at a desk.

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