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mario62 [17]
3 years ago
12

John Doe estimates that the price elasticity of demand for new SUVs to be 0.75. If the price of SUVs rose by 15%; would the quan

tity demanded of new SUVs rise or fall? By what percentage?
Mathematics
1 answer:
Charra [1.4K]3 years ago
4 0
If the coefficient of demand for the SUV is 0.75 this means that it has a relatively inelastic demand since it is less than. In other words, there is only a little alteration in demand when prices change.
So when the price of SUV rise by 15%, and it has a coefficient of 0.75, we can anticipate only 11.25% decrease in its demand. This is for the reason that the SUVs do not have many substitutes for it.
So to solve:
(x/15%) = 0.75
Then simply solve for x:
 x = (0.75)(0.15) = 11.25%
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which rate can you set 7 miles over 1 hour equal to in order to find the distance traveled in 49 hours at 7 miles per hour
IrinaVladis [17]

Answer:

Step-by-step explanation:

time = 49 hours

speed =  7 miles/hour

speed = distance / time

∴ distance = speed × time

= 7 × 49

= 343 miles

8 0
3 years ago
Susie’s Sweet Shop sells chocolate boxes that contain three types of chocolate truffles: solid chocolate truffles, cream center
olganol [36]

Let us make a list of all the details we have

We are given

The cost of each solid chocolate truffle = s

The cost of each cream centre chocolate truffle = c

The cos to each chocolate truffle with nuts = n

The first type of sweet box that contains 5 each of the three types of chocolate truffle costs $41.25

That is 5s+5c+5n = 41.25 (cost of each type of truffle multiplied by their respective costs and all added together)

The second type of sweet box that contains 10 solid chocolate trufles, 5 cream centre truffles and 10 chocolate truffles with nuts cost $68.75

That is 10s+5c+10n = $68.75

The third type of sweet box that contains 24 truffles evenly divided that is 12 each of solid chocolate truffle and chocolate truffle with nuts cost $66.00

That is 12s+12n=$66.00

Hence option C is the right set of equations that will help us solve the values of each chocolate truffle.



6 0
3 years ago
In a lottery game, a player picks six numbers from 1 to 22. If the player matches all six numbers, they win 20,000 dollars. Othe
Angelina_Jolie [31]

Answer:

Total possible number of outcomes = C(24,6) [24 choose 6]

=24!/(6!18!)

= 134596

Out of which there is only one winning combination.

Therefore we conclude:

P(win 20000)=1/134596

P(lose 1)=134595/134596

and hence the expected value is:

20000*(1/134596)+(-1)*(134595/134596)

=-114595/134596

=-0.8514 (rounded to four places after decimal)

Step-by-step explanation:

Hope this helped!

8 0
3 years ago
Samara has six more than three times as many pieces of candy and Sydney. Samara has 36 pieces of candy. How many does Sydney hav
Norma-Jean [14]
36-6/3
that would be 10
5 0
3 years ago
Read 2 more answers
If f(x)= 3x + 1 and f^(-1)= x-1/3, then the ordered pair of f^(-1)(10)=
iragen [17]

The answer is B

The correct inverse of 3x+1 is actually (1/3)x - 1/3

plug in 10 to the inverse

10/3 - 1/3 = 9/3 or 3

this gives you the point (10,3)

8 0
3 years ago
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