Answer:
(a)20
(b)Elastic
(c)8
(d) Elastic
Step-by-step explanation:
Elasticity of demand(E) indicates the impact of a price change on a product's sales.
The general formula for an exponential demand curve is given as:
Given the demand curve formula
The formula for Elasticity of demand, E
(a)When Price, p = $50
p=50
Therefore:
(b)At p = $50, Since elasticity is greater than 1, the demand is elastic.
An elasticity value of 20 means that a 1% increase in price causes a 20% decrease in demand.
(c)At p=$20
p=20
Therefore:
(d)At p = $20, the demand is elastic.
An elasticity value of 8 means that a 1% increase in price causes a 8% decrease in demand.
1 over the square root of 8 = 4(m - 2) equals m = 2 + the square root of 2<span>2/2 or approximately 2.71. To solve this you need to find the variable, isolate the variable, and then solve. Remember that whatever happens to one side of the equation has to happen to the other.</span>
A.) Since there is not interest, there is no time value of money to be recovered. That means that the $100 today, would still be $100 a few years from now. The balance function would then be:
B(p) = $100 - 20p
b.) Since the half of 100 is 50, equate B(p) to 50
B(p) = 50 = 100 - 20p
p = 2.5
Therefore, after 3 payments, Jenna have paid back more than half of the loan.
c.1) The same procedure is done as that of part a. However, the base amount is $120 instead of $100, and the $20 is replaced with $15. The new equation becomes:
B(p) = 120 - 15p
c.2) To determine the time, let the balance zero out.
0 = 120 - 15p
Solving for p,
p = 8
Thus, Jenna could pay back the loan after 8 months.
Answer:
Divide the percentage by 100 to get a decimal number. Use that number as the numerator (top) of a fraction. Put a 1 in the denominator (bottom) of the fraction. Convert the decimal to a whole number: Count how many places are to the right of the decimal.
The answer is 6 i hope this helped you
