Answer:
Explanation:
In using the midpoint method to calculate price elasticity , the average percentage change in the price and quantity are used
formula = percentage change in quantity = (Q2 -Q1/(Q2+Q1)/2)*100
Percentage change in price = ( P2 -P2/(P2-P1)/2)*100
Price changes = $1.5 to $1.3
Quantity changes = 60 to 100
Percentage in price = (1.3-1.5 /(1.5+1.3)/2 )*100
(-0.2/1.4)*100 =-14.29%
Percentage in quantity = (100-60/(100+60)/2)*100
40/80*100 = 50%
Therefore , price elasticity of demand = 50/-14.29 = -3.5
With the elastic interval being less than 1 , it means that it is an inelastic demand
Answer:
please is it ccommunication
Explanation:
is the act of developing meaning among entities or groups through the use of sufficiently mutually understood signs, symbols, and semiotic conventions.
Answer:
A- removing frills from products
Explanation:
competitive advantage is an advantage over competitors gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices.
In this case, removing frills creates better value to the consumers.