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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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Disney World in Orlando, FL has several theme parks, resorts, restaurants, and stores. Each is intentionally created to offer a
Nutka1998 [239]

Answer:

5. An experience

Explanation:

Disney World in Orlando is clearly selling an experience with its Wilderness Lodge.

Disney is trying to have customers experience, has close as possible (and as comfortably as possible) what it would have been like to be a pioneer in the wilderness. This is why the hotel, the waiting staff, and the performaces have a pioneer theme and are aimed at making the whole thing feel authentic.

3 0
3 years ago
Which parts of the electric circuit considered as fuse​
allsm [11]

Answer:

conducts

Explanation:

a fuse consists of a metal strip of wire fuse element, of small cross-section compared to the circuit conductors, mounted between a pair of electrical terminals,and (usually) enclosed by a non-combustible housing. The fuse is arranged in series to carry all the current passing through the protected circuit.

5 0
3 years ago
When it comes to executing plans, what is the role of a manager?
tiny-mole [99]

When it comes to executing plans, the role of a manager is controlling and problem solving.

<h3>Who is a manager?</h3>

Managers supervise the activities of others in order to achieve goals. Managers in the modern workforce may be in charge of systems or specific functions that do not involve humans.

A manager has several responsibilities in an organization. One of them is concerned with carrying out the plan devised to achieve organizational objectives. A manager uses this plan to control and solve problems that may arise while carrying out the plan, as well as to make necessary adjustments.

For example, compare actual results to planned results and make adjustments as needed.

Learn more about managers on:

brainly.com/question/24708179

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8 0
1 year ago
PLEASE HELP ME ASAP PLEASE!!!!
Dmitry [639]

Answer:

C. all goods and services that are in demand

Explanation:

Macroeconomics, as a branch of economics, is concerned with the performance of the economy as a whole. Macroeconomics studies the key economic indicators such as unemployment rate, growth rate, aggregate demand, inflation, and price levels.  The government uses data form macroeconomic analysis to formulate policies and strategies for the country.

While microeconomics will be concerned with the income and expenditures of individuals and households, Macroeconomic will consider the consumption and revenues of the entire population. Microeconomics studies the demand for a single product. Macroeconomics focuses on the aggregate demand for products and services in a country, which is more like the GDP.

5 0
3 years ago
Waterway industries loaned $610000 to another corporation on december 1, 2017 and received a 3-month, 9% interest-bearing note w
suter [353]

<u>Adjusting entry for Interest receivable:</u>


It is given that Waterway industries loaned $610000 to another corporation on December 1, 2017 and received a 3-month, 9% interest-bearing note with a face value of $610000. Hene we need to record the Interest receivable for the period of one month as on December 31. Interest  =610,000*9%/12 = $4,575

The adjusting entry as on Dec. 31 shall be as follows;


Interest Receivable  Debit  $4,575

Interest Revenue      Credit              $4,575

(Being adjustment made for Interest receivable)


Hence, the correct answer is:

Debit interest receivable and credit interest revenue, $4575



3 0
4 years ago
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