Answer:
335.43 million gallons
Explanation:
price elasticity of demand (PED) = % change in quantity demanded / % change in price
PED = -1.9% / 10% = -0.19, very inelastic
expected price increase $0.40
% change in price = ($3.45 - $3.05) / $3.05 = 13.11%
% change in quantity demanded:
-0.19 = D / 13.11%
D = 2.49%
quantity demanded will decrease by 2.49%, from 344 million gallons to 335.43 million gallons
As Bonnie is not currently looking for a job after she quit
and take care of her daughter, the survey conducted by the bureau of labor
statistics that Bonnie will now be counted as an individual who is not part of
the labor force because she is not working at the moment.
<span> </span>
<span>Past studies have found that new products fail in the market around 35-40 percent of the time. Here are some remarkable examples:
</span><span>Iridium Satellite Telephone - -$7 bil
Mobile ESPN - $150 mil
Apple Newton PDA - -$400 mil
RJR Premiere Cigarette - -$325 mil and an additional loss of $125 mil
RCA Videodisk Player - -$450 mil</span>
Quebec could not legally secede.