Answer:
Quantity of beef demanded will decrease by 12%
Explanation:
Data provided in the question:
Price elasticity of demand for beef, Ed = 0.60
Increase in the price of beef = 20%
Now,
Price elasticity of demand for beef,
Ed = [ Percentage change in Quantity ] ÷ [ Percentage change in price ]
or
0.60 = [ Percentage change in Quantity ] ÷ 20%
or
Percentage change in Quantity = 0.60 × 20%
or
Percentage change in Quantity = 12%
Also,
Price and Quantity are inversely proportional
Hence,
With the increase in price, the quantity will decrease
Therefore,
Quantity of beef demanded will decrease by 12%
Based on the question above, <u>demand and supply</u> will increase.
<h3>Demand</h3>
- demand is the quantity of a good that consumers are willing and able to buy at various prices during a given period of time.
<h3>Supply</h3>
- supply is the amount of a resource that firms, manufacturers, labourers, providers of financial assets, or other economic agents are willing and able to provide to the marketplace or to an individual.
Therefore, the correct answers are demand and supply.
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Answer:
$5,566.84
Explanation:
to determine the amount of money that Mary had in her account at the beginning of the year we can use the resent value formula:
present value (PV) = future value (FV) / (1 + interest rate)ⁿ
where:
- FV = $6,248.95
- interest rate = 12.253%
- n = 1
PV = $6,248.95 / (1 + 12.253%) = $6,248.95 / 1.12253 = $5,566.84
Answer:
a mobile ad
Explanation:
GroundTruth launches an ad manager which provides advertisement to its customers on its mobile phones based on the location of the customer. It is a self serving platform for advertisements and easy to operate and use.
The ad manager integrates the visual advertisements into the text messages, applications and also mobile websites and sends to the customers for advertising.
Thus the GroundTruth Ads Manager is an example of a mobile ad.
Based on the information given, it can be deduced that the annual percentage rate (APR) is 24%.
The annual percentage rate simply means the yearly interest that's generated by a sum that's charged to a borrower. In this case, the APR is 24% after 6 months.
Also, the credit cards that have an annual fee will be credit card 2 and 3. It can also be deduced that the grace period is the same for the three credit cards while credit 3 has a membership.
If one pays the credit card bill on time and the balance each month, the best credit card is credit card 1. Lastly, when one has a balance from time to time credit card 1 is still the best.
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