1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
leonid [27]
3 years ago
5

Consider the following demand schedule for bags. Price Quantity ​$99 5252 ​$1111 4848 ​$1313 4040 When the price of bags rises f

rom ​$99 to ​$1111​, the price elasticity of demand is approximately nothing. ​(Calculate using the midpoint​ formula, round your answer to one decimal​ place, and enter a​ "-" if your answer is​ negative.)
Business
1 answer:
omeli [17]3 years ago
4 0

Answer:

PED= "0.1"

Explanation:

The price elasticity of demand indicates how the quantity demanded changes when the price changes. Is defined by this equation:

Price Elasticity of Demand(PED)= Percentage change in Q (Δ%Q)/ Percentage change in P (Δ%P) .

To fine the percentage change in Q and in P we use the midpoint formula:

Δ%Q= q2-q1/(q2+q1/2)

Δ%Q= 4848-5252/(5252+4848/2)

Δ%Q= -404/5050

Δ%Q= -0.08

Δ%P= p2-p1/(p2+p1/2)

Δ%P= 1111-99/(1111+99/2)

Δ%P= 1012/605

Δ%P= 1,672

PED=-0.08/1,672

PED= -0.047

Rounded to one decimal place:

PED= "0.1"

You might be interested in
Why do we have to pay
const2013 [10]

Answer:

you have to pay because it's a trade instead of for an example trading a coat for a meal you would give pay money to get the object.

Explanation:

Hope this helps:)

6 0
2 years ago
If the Federal Reserve increases the reserve requirement, what effect will this have on the nation’s money supply? a. Increase t
dem82 [27]
The correct answer is c)
3 0
2 years ago
Willow Wanderer Cameras Inc. reported the following results for the year ending October 31, 20Y9: Retained earnings, November 1,
ANTONII [103]

Answer:

The statement would be:

Date: October 31, 2019

Net Income                $680,700

Cash dividends           $50,000

Stock dividends         $127,000

Retained earnings     $503,700

The retained earnings are equal to the sum of declared dividends substracted  from the net income.

3 0
3 years ago
Activity-based costing systems:
Harlamova29_29 [7]

Answer:

The correct answer is letter "B": Often reveal products that were under- or over-costed by traditional costing systems.

Explanation:

Activity-Based Costing or ABC is a managerial accounting method that assigns certain indirect costs to the products incurring the bulk of those costs. ABC is primarily used in the manufacturing sector to make a better calculation of the true cost of production per unit. Compared to the traditional costing method, ABC spots products that could be under-costed or over-costed.

3 0
3 years ago
UCaShoTLLOuuj9D4vqFtTpSQ<br><br> search
ankoles [38]
Okay I’ll search .... rd
3 0
3 years ago
Other questions:
  • The investments in the Alamo Basics Contingency Fund have a current market value of $730 million. The fund also has liabilities
    5·1 answer
  • What is not a criterion that influences manufacturing plant or warehouse facility location decisions?
    6·1 answer
  • Driving consists of a ______________ process that is used hundreds of times per mile traveled
    12·1 answer
  • Greg, a supervisor, is known by his managers to be sharp in his decisions and has a good track record of meeting his goals. greg
    7·1 answer
  • Explain why the operating income is less than it was when the company was producing its optimal product mix. Operating income is
    10·1 answer
  • The concept of ________ suggests that when a company has built significant value into its product offerings, trying to increase
    5·1 answer
  • If your college leadership sought your advice on setting tuition, why would it matter if your college was the only college for m
    12·1 answer
  • Agassi Corporation sells products for $90 each that have variable costs of $60 per unit. Agassi’s annual fixed cost is $450,000.
    6·1 answer
  • Ray's Sounds has accumulated the following cost and market data on March 31: Cost Data Market Data iPods $24,000 $20,400 Cell ph
    14·1 answer
  • What is the relationship between a firm's industry environment and the firm's earning potential?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!