The price of cookies was increased from $4 to $5, the quantity demanded by stores went down 50%, what is price elasticity of dem
1 answer:
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Answer:
Each person would have to contribute to contribute $385 to pay a 1.5 deficit.
Step-by-step explanation:
To determine:
How much would each person have to contribute to pay a 1.5 deficit if United States facing a budget deficit of 1.5 billion and 3.9 million population?
Fetching Information and Solution Steps:
- United States facing a budget deficit of 1.5 billion
- Population = 3.9 million
We have to determine how much would each person have to contribute to pay a 1.5 deficit.
Just dividing 1500 millions (1.5 billion) by 3.9 million as:
which is rounded to $385.
Therefore, each person would have to contribute to contribute $385 to pay a 1.5 deficit.
Keywords: deficit
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