According to the midpoint method, the price elasticity of demand for tomatoes between point X and point Y is approximately (1.8 or 0.56 or 0.09 or 0.05) , which suggests that the demand for tomatoes is (elastic or
Answer:
Demand for products sold at a store in a neighborhood with other stores is probably elastic
Explanation:
A demand is considered as 'Elastic' if a change in price of the product would strongly affect the quantity of the demand.
Competitors who offer similar products than your organization tend to reduce the amount of demand that come to your store. Existence of competitors give the consumers the options to choose and move around in order to seek the best offers that they can.
As a result, the shoe stores in Joey's neighborhood will have to constantly adjust their price in order to make their products seems appealing compared to the rest of the competitors. This make the demand in Joye's store keep fluctuating depending on the performance of other competitors.
Answer:
Cost of the equipment = $32350
Explanation:
given data
purchased equipment = $30,000
Sales tax = $1,500
freight charges = $400
repairs = $700
installation costs = $450
solution
we get here Cost of the equipment that is express as
Cost of the equipment = Purchase cost + Sales tax paid + Freight + Installation cost .........................1
put here value and we will get
Cost of the equipment = $30000 + $1500 + $400 + $450
Cost of the equipment = $32350
