The price elasticity of demand of the pen will be -0.2.
<h3>How to compute the elasticity?</h3>
The demand and supply schedule will be:
Price Qd. Qs
$10. 250. 100
$20. 200. 90
$30. 180. 80
The price elasticity of demand from $1 to $2 will be:
= Percentage change in quantity demanded/percentage change in price
Percentage change in quantity demanded will be:
= (200 - 250)/250 × 100
= -20%
Percentage change in price will be:
= (20 - 10)/10 × 100
= 100%
Therefore, the elasticity of demand will be:
= -20/100
= - 0.2
The value gotten illustrates an inelastic demand.
In order to increase the total revenue, the price can be reduced as it will lead to more sales.
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<u>Complete question:</u>
Choose any product or service. Create the demand and supply schedule.
Calculate just one PED.
Is the demand elastic or inelastic?
What price change would you recommend to increase TR?
Let x=number 1 let y=number2
there sum is equal to 70
then
number1+number2=70
substituting
x+y=70
y=70-x
let there product will be p
p=xy
substituting
p=x(70-x)
which is choice c
Answer:
What two ratios can be used in the proportion?
8/3 and 18/x
What is the value of a missing measure?
6.75 in.
Step-by-step explanation:
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<h3>Answer-</h3>
I think 11 is the median for the data.
Answer:
x=-5
Step-by-step explanation:
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