The percent of decrease would be 60%
Answer: (B) The price elasticity of demand for good Z = 0.86
Step-by-step explanation:
The formula for determining elasticity of demand by using the midpoint method is
(Q2 - Q1)/[(Q2 + Q1)/2] / (P2 - P1)/[(P2 + P1)/2]
Where
P1 is the initial price of the item.
P2 is the final price of the item.
Q1 is the initial quantity demanded for the item.
Q2 is the final quantity demanded for the item.
From the information given,
P1 = 10
P2 = 15
Q1 = 85
Q2 = 60
The price elasticity of demand for good Z = (60 - 85)/[(60 + 85)/2] / (15 - 10)/[(15 + 10)/2]
= (-25/72.5) / (5/12.5) = -25/72.5 × 12.5/5
= - 312.5/362.5 = - 0.86
$2,500 • 7.5% (or 0.075) = $187.50 (for one year).
For two years, the interested added onto the original price is $375 because $187.50 • 2 (years) = $375.
$2,500 + $375 = $2,875
The total of the cost of the surgery and the interest is $2,875.
Hope this helps! ❤️
Answer:
what set of numbers??
you haven't provided any set of numbers
If feet:
34' 4" - 8' = 26' 4"
if inches: = 33' 8"
