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BigorU [14]
3 years ago
10

Dan sells newspapers. Dan says that a 8 percent increase in the price of a newspaper will decrease the quantity of newspapers de

manded by 4 percent. According to Dan, the demand for newspapers is ________.
Business
1 answer:
ivann1987 [24]3 years ago
4 0

Answer:

For Dan, the demand is price inelastic

Explanation:

One of the factors tat affect the quantity demand for a product is the price of the product. According to the law of demand, at lower price more quantity of a product would be purchased than at a higer price, all other this being being equal.

Price elasticity of Demand (PED)

The extent to which a change in price will cause a change in the quantity demand for a product is called the price elasticity of demand. It measures the degree of responsiveness of quantity demand to a change in price.

It is calculated as

PED =% change in quantity demand / % change in price.

For Dan Newspaper , the price elasticity of demand

             = 4%/8%

            = 0.5

If the PED is greater than 1, the demand is price elastic

If the PED is less than 1 , demand is price inelastic

For Dan, the demand is price inelastic

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Extralegal factors are those that are not covered or regulated by law. Examples of these factors or variables include gender, age, social class, race and economic status. Consciously or not, these variables can be taken as "biases" that may affect prosecution and arrest of certain individuals. 
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3 years ago
A lender checking Jason's credit score for an auto loan would likely notice that...
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Lenders checking credit scores:

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In conclusion, a lender for an auto loan will most likely notice an auto loan history.

Options for this question include:

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3 0
3 years ago
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fredd [130]

Answer: 187%

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= 1.79 × 100 / 0.96

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Jerry orders $10 worth of gas. This means that no matter how much it gives him, Jerry will pay $10. The price elasticity of demand depends on how much the price changes by.
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