Answer:
Option (c) is correct.
Explanation:
Initial quantity demanded = 800
New quantity demanded = 600
Initial price = $4
New price = $4.50
Using the midpoint formula,
For price:
Average price:
= (Initial price + New price) ÷ 2
= ($4 + $4.50) ÷ 2
= $4.25
Change in price = New price - Initial price
= $4.50 - $4
= $0.50
For Quantity demanded:
Average quantity demanded:
= (Initial Quantity demanded + New Quantity demanded) ÷ 2
= (800 + 600) ÷ 2
= 700
Change in quantity demanded:
= New Quantity demanded + Initial Quantity demanded
= 600 - 800
= -200
Price elasticity of demand:
= (- 0.29) ÷ 0.12
= -2.43
You could bring a map or directions, and you could leave a half hour or so early. Make sure you double check where you're going and how you're getting there.
Hope this helps!
- Z
1. When Tonya chose the chicken sandwich, her opportunity cost was the burger.
2. When Jimmy chose the licorice, his opportunity cost was the jelly beans. (It's the jelly beans since the nut clusters are not included in the next alternative because of his allergies to it.)
3. When Mary chose the jacket, her opportunity cost was either the dress or the shoe, whichever was her next best alternative. (The statement does not give enough information to identify her opportunity cost. It could not be both since an opportunity cost is the next <em>best</em> alternative and not <em>all</em> alternatives.)
4. When Joe chose the Ford truck, his opportunity cost was the Chevrolet.
5. When the city council chose to build the music stage, their opportunity cost was the wading pool. (The parking lot which people would have wanted is not considered because we are talking about the City Council's opportunity cost.)
Answer:
45%
Explanation:
Given that,
Sales = $4,500,000
Invested assets = $2,000,000
Operating expenses = $3,600,000
Minimum rate of return = 7%
Operating profit of the company:
= Sales - Operating expenses
= $4,500,000 - $3,600,000
= $900,000
Therefore, the rate of return on investment is as follows:
= Net operating income ÷ Invested assets
= $900,000 ÷ $2,000,000
= 45%
Answer:
C) For; they are available to all eligible taxpayers, not just those that itemize deductions
Explanation:
Any individual's adjusted gross income is equal to the individual's total gross income minus certain specific deductions, e.g. health savings account, contributions to retirement accounts, student loan interest, etc.
An individual's taxes are calculated using the adjusted gross income as basis, not simply the gross income.
