1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lisov135 [29]
3 years ago
10

If the price elasticity of demand is 1.8 then a 30 percent decrease in the price of the good will lead to a _______ percent incr

ease in the quantity demanded.
Business
1 answer:
Mkey [24]3 years ago
3 0

Answer:

The answer is 54percent

Explanation:

Elasticity is a measure of how sensitive one variable is to any variable. It is expressed as the ratio of percentage changes in variables.

That is; %change in quantity demanded/%change in price.

This calculation shows how sensitive quantity demanded is to a change in price.

In the question, price elasticity of demand is 1.8

30 percent decrease in price

Therefore, the quantity demanded will increase by 30percent x 1.8

=54percent

You might be interested in
On March 1, 20Y8, Eric Keene and Renee Wallace form a partnership. Keene agrees to invest $21,060 in cash and merchandise invent
tester [92]

Answer:

Explanation:

a. The journal entries are shown below:

Cash $21,060  

Merchandise inventory $56,290  

             To Eric Keene's Capital $77,350

(To record investment made)

Accounts receivable $17,770  

Equipment $54,190  

Cash (Liabilities - Assets) $40,820  

     To Allowance for doubtful accounts $1,950

     To Accounts payable $14,910

     To Notes payable (current) $35,970

    To Reene Wallace's capital $59,950

(Being capital contribution by Reene wallace is recorded)  

2.

<u>KEENE AND WALLACE </u>

<u> Balance Sheet </u>

<u> March 1, 20Y8</u>

Assets    

Current Assets    

Cash (21,060 + 40,820) $61,880  

Accounts Receivable Less Allowance $15,820  

Merchandise inventory $56,290  

Total current assets $133,990  

Property, plant and Equipment    

Equipment $54,190 54,190  

Total Assets   $188,180

Liabilities    

Current Liabilities    

Accounts Payable $14,910  

Notes Payable       $35,970  

Total liabilities       $50,880  

Partner's Equity    

Eric Keene's capital $77,350  

Renee Wallace's capital $59,950  

Total partner's equity  $137,300  

Total liabilities and partner's equity $188,180

7 0
3 years ago
The most important difference between for-profit businesses and nonprofit organizations is that:
kolezko [41]

The most important difference of the two or between businesses in the profit and nonprofit organizations is that in terms of nonprofit organizations, the organization owners does not make money, while the profit organizations—it makes money for the organizations’ owners.

7 0
3 years ago
A market might have an upward-sloping long-run supply curve if A. firms have different costs. B. consumers exercise market power
____ [38]

Answer:

Option A is correct

Firms have different costs.

Explanation:

Option A is correct

Long run supply curve is upward sloping or constant horizontal line depends on the industry whether it is variable cost industry (increasing production cost)  or a constant cost industry respectively. Option A is correct because if firms have different production cost and it is increasing as the output is increasing then it is upward Sloping long-run supply curve.

4 0
3 years ago
What is a reasonable estimate for the volume of a number cube:
den301095 [7]

Answer:

cjcdk

Explanation:

8 0
3 years ago
Katie’s Cleaning Service has cleaning contracts for 15 apartments, 45 family homes, and 25 office buildings. She estimates that
Tomtit [17]

Answer:

correct option is B: $29,000

Explanation:

given data

apartments = 15

family homes = 45

office buildings = 25

pay for cleaning staff =  $12.50/hour

solution

we get here Total Budgeted hours that is

type                      Number     Hrs/Clean      No of Cleans    Total Hours

Apartments           15                  4                    4                      240

Homes                   45                 6                    4                      1080

Office                     25                10                    4                     1000

Total Budgeted hours need per month                                2320

Budgeted cost per month that is 12.50/hrs so it will           29000

so correct option is B: $29,000

3 0
3 years ago
Other questions:
  • How do the choices we make both producers and consumers help us with scarcity?
    7·2 answers
  • Dragon Sports Inc. manufactures and sells two products, baseball bats and baseball gloves. The fixed costs are $254,800, and the
    9·1 answer
  • A customer tells you that they “must have” a particular item that you are out of in your store. You can tell that the customer i
    5·1 answer
  • Hankins Corporation has 8.1 million shares of common stock outstanding, 300,000 shares of 4.1 percent preferred stock outstandin
    14·1 answer
  • agricultural workers and industrial laborers were almost the same number a) during 1850 b) during 1880 c) during 1890 d) during
    9·1 answer
  • You have a budget of $1,440 per week for employees. Employees are paid $12 per hour and work 40 hours per week. Ignoring overhea
    15·2 answers
  • Carr Company is considering two capital investment proposals. Estimates regarding each project are provided below:Project Soup P
    15·1 answer
  • Which of the following below is an example of a capital expenditure? Group of answer choices replacing an engine in a company ca
    12·1 answer
  • xercise 7-24 (Static) Assigning Costs to Jobs (LO 7-1, 2) Forest Components makes aircraft parts. The following transactions occ
    10·1 answer
  • Dylan has a standard set of questions he asks all applicants during an interview. What type of interview does dylan conduct
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!