As a result of Hurricane Irma causing the quantity of oranges to drop by 21%, the change in price of oranges will be increase of 14%.
<h3>What will be the change in price of oranges?</h3>
Price Elasticity is found as:
= Change in quantity / Change in price
You have the elasticity and the change in quantity so you can find the change in price as:
-1.5 = -21% / Price
Price x -1.5 = -21%
Price = -21% / -1.5
= 14%
In conclusion, price will increase by 14%.
Find out more on price elasticity of demand at brainly.com/question/5078326.
first look at the starting value then approximately affect the ending value
Answer:
The correct answer is option (D).
Explanation:
According to the scenario, computation of the given data are as follows:
Rent (Fixed cost) = $1,000
Wages (variable cost )= $6,000
Fabric and thread (variable cost)= $1,500
Electricity (Fixed cost )= $500
So, we can calculate the total variable cost by using following formula:
Total variable cost = Wages + Fabric and thread cost
= $6,000 + $1,500
= $7,500
Answer:
The correct response is "enforcing the truth in Lending Act".
Explanation:
- This same original objective of many of these Federal Reserve Restrictions would be to safeguard human potential customers toward misleading banking as well as making loans methodologies that could cause significant actual damage or invalidate independent constitutional protections.
- Individuals implement regulations and procedures to support the borrowing and government assets, as well as to discourage manipulation when doing so.