Answer:
The slope is -3/4
Step-by-step explanation:
The formula to calculate slope is m = (y2 -- y1) / (x2 -- x1), where m is the slope. When we substitute the values, we get 0-3 over -2-2. When we solve this, 0-3 is -3 and -2-2 is -4, so the slope is -3/4.
Answer:
Demand is Elastic when Price > 200 ; Demand is inelastic when Price < 200
Step-by-step explanation:
p = 400 - 4x
4x = 400 - p
x = (400 - p) / 4 → x = 100 - p/4
Elasticity of demand [ P ed ] = (Δx / Δp) x (p / x)
Δx / Δp [Differentiating x w.r.t p] = 0 - 1/4 → = -1/4
P ed = <u>-1</u> x<u> p </u>
4 (400 - p)/4
= <u>-1</u> x <u> 4p </u> = -p / (400-p)
4 (400 - p)
Price Elasticity of demand : only magnitude is considered, negative sign is ignored (due to negative price demand relationship as per law of demand).
So, Ped = p / (400 - p)
Demand is Elastic when P.ed > 1
p / (400-p) > 1
p > 400 - p
p + p > 400 → 2p > 400
p > 400 / 2 → p > 200
Demand is inelastic when P.ed < 1
p / (400-p) < 1
p < 400 - p
p + p < 400 → 2p < 400
p < 400 / 2 → p < 200
Answer:
18. 36.36%
22. 53.71
Step-by-step explanation:
<u>Answer:</u>
-16 cents
<u>Step-by-step explanation:</u>
We are given that on three rolls of a single die, you will lose $19 if a 3 turns up at least once, and you will win $5 otherwise.
We are to find the expected value of the game.
P (at least one 5 in three rolls) = 1 - P (no. of 3 in three) = 
= 0.875
P (other results) = 1 - 0.875 = 0.125
Random game value = -19, +5
Probabilities: 0.875, 0.125
Expected game value (X) = 0.875 × (-19) + 0.125 × (5) = -16 cents
Therefore, every time you play the game, you can expect to lose 16 cents
