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stich3 [128]
3 years ago
8

Suppose you know that the price elasticity of demand for your product is 0.5, and you are thinking about raising your price by 8

%. How much can you expect quantity to decrease?a. 8%b. 5%c. 4%d. We can't tell how much quantity will decrease
Business
1 answer:
satela [25.4K]3 years ago
4 0

Answer: Option (c) is correct.

Explanation:

Given that,

Price elasticity of demand = 0.5

Percentage increase in price = 8%

Price elasticity of demand = \frac{Percentage\ change\ in\ quantity\ demanded}{Percentage\ change\ in\ price}

0.5 =  \frac{Percentage\ change\ in\ quantity\ demanded}{8}

Percentage change in quantity demanded = 0.5 × 8

                                                                       = 4%

Therefore, if the price rises by 8% then as a result quantity demanded decreases by 4%.

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Answer:

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Explanation:

In point a:

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In point b:

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Throughout this situation, silver can claim nationality plurality, as Oklahoma's comprehensive would not be a citizen. It simple company does company in such a state doesn't render that business a citizen. However, if silver has been damaged in terms of $75,000, this failure combined with citizenship diversity would allow it to sue extensively in a federal court. This event does not tell everyone how slowly he lost, however, the facts weren't enough to make a correct judgment.

3 0
3 years ago
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A. Bid/no bid decision

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The overview of the statement is summarized below.

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