Answer:
a. 2.20
Explanation:
The computation of the price elasticity of supply is shown below;
Here,
P1 = $1 Q1 = 100
P2 = $1.20 Q2 = 150
We know that
Price elasticity = percentage change in quantity supplied ÷ percentage change in price
where
Percentage change in quantity supplied = (Q2-Q1)÷(Q2+Q1) ÷ 2)×100
= (150-100) ÷(150+100) ÷ 2)×100
= 40
And,
Percentage change in price is
= (P2-P1) ÷ (P2+P1) ÷ 2)×100
= ($1.20 - $1) ÷ ($1.20 + $1) ÷ 2)×100
= 18.1818
So, price elasticity of supply is
= 40 ÷ 18.1818
= 2.20
Idk idk idk idk idk idk im sorry btw its just for the starting thing
The
two basic assumptions that economists make about individuals and firms are:
<span>The
first assumption is that individuals maximize their overall potential and try
to make themselves as resourceful as possible. And second is that to make more
profit as possible, a firm can do anything what it needs to do for this. Economists
keeps the economy in check by these assumptions.</span>
Answer:
8.95%
Explanation:
Data provided in the question:
Time, n = 29 years
Principle amount = $200,000
Future value = $2,400,000
Now,
Using the compounding formula
Future value = Principle × [ 1 + r ]ⁿ
here,
r is the interest rate
Thus,
$2,400,000 = $200,000 × [ 1 + r ]²⁹
or
[ 1 + r ]²⁹ = 12
taking the natural log both the sides, we have
29 × ln(1 + r) = ln(12)
or
ln(1 + r) = 0.08569
or
1 + r = 
or
1 + r = 1.0895
or
r = 0.0895
or
r = 0.0895 × 100% = 8.95%
