Answer: The price elasticity of demand for good A is 0.67, and an increase in price will result in a increase in total revenue for good A
Explanation:
The following can be deduced form the question:
P1 = $50
P2 = $70
Q1 = 500 units
Q2 = 400 units
Percentage change in quantity = [Q2 - Q1 / (Q2 + Q1) ÷ 2 ] × 100
Percentage change in price = [P2 - P1 / (P2 + P1) ÷ 2 ] × 100
% change in quantity = (400 - 500)/(400 + 500)/2 × 100
= -100/450 × 100
= -22.22%
% change on price = (70 - 50)/(70 + 50)/2 × 100
= 20/60 × 100
= 33
Price elasticity of demand = % change in quantity / % change on price
= -22.22 / 33
= -0.67
This means that a 1% change in price will lead to a 0.67% change in quantity demanded. As there was a price change, there'll be a little change in quantity demanded because demand is inelastic. Thereby, he increase in price will lead to an increase in the total revenue.
Therefore, the price elasticity of demand for good A is 0.67, and an increase in price will result in an increase in total revenue for good A
Answer:
The correct answer is letter "B": labor, capital, and management.
Explanation:
<em>Labor, capital </em>and <em>management</em> are the three variables mostly used to measure productivity. Labor refers to the staff who are responsible for doing all of the physical and mental tasks that keep a company going.
Capital refers to the buildings, machinery, and tools used in the manufacturing process. It also involves talking about intellectual capital, which is the technical expertise that a company acquires over time.
Management is the development factor that connects capital and labor together. Managers incorporate innovation and creativity in using the other factors that help to create a successful company.
product advertising is the answer
False.
In theatre, a director's role and training is independent and separate from that of an actor. The two roles are distinct and do not require participation as the other in order to complete each. A director's training will be complete through activity other than working or being an actor in a production.
Answer:
The present value of the annuity is $ 825.02
Explanation:
The present value of the annuity is the today's worth of the thirty annuity payments.
Each of the annuity payment is multiplied by its discount factor,for instance the discount factor for the first payment is computed thus
=$15*(1/(1+6%/12)^1=$14.93
The 6% interest rate is divided by 12 months to show a monthly rate of return find attached.
