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Ad libitum [116K]
3 years ago
12

When the price of oranges increases from $4 to $6 per bag, the quantity demanded of oranges decreases from 800 bags to 700 bags.

The price elasticity of demand over this price range is equal to ------
Business
1 answer:
bagirrra123 [75]3 years ago
7 0

Answer:

0.37, the demand is inelastic.

Explanation:

% change in price = $6- $2 = ($2 / $6) * 100 = 33%

% change in demanda =  800 - 700 = (100/800) * 100 = 12.5%

PED = 12.5 / 33 = 0.37.

The formula to calculate the PED is %change in demand / %change in price, and if we apply the formula according to the information provided, we found that the PED is 0.37. If the PED is between 0 and 1, we can conclude that we have an inelastic demand.

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The current value of a property is $60,000. For real estate tax purposes, the property is assessed at 30 percent of its current
Damm [24]

Answer:

Explanation:

Given:

Current value, C = $60000

Assessed value, A = 30 percent of its current value

= 30% × C

Equalisation factor, E = 1.25

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Assessed value, A = 30/100 × 60000

= $18000

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= $18000 × 1.25

= $22500

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4 0
3 years ago
The total overhead variance is the difference between actual overhead costs and budgeted overhead costs. True False
disa [49]

The difference between the realized overheads and the estimated overheads is the total overhead cost.

<h3>What are total overhead costs?</h3>

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The calculation of the total overhead costs is actual overhead costs less the budgeted overhead costs.

Hence, the aforementioned statement regarding total overhead costs holds true.

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6 0
2 years ago
Can you describe cody's current financial position as good average or poor
Slav-nsk [51]
The question was based on https://www.longbranch.k12.nj.us/cms/lib/NJ01001766/Centricity/Domain/661/Codys_Statement_of_Financi....

If we would divide the given facts into assets and liabilities the answer is poor. He went below because of his spendings.

Assets                                            Liabilities
TV-                    250                         student  loan          2600
Mp3 Player       200                         credit card 1             850                                  Laptop              750                         credit card 2           1200                                  Game system   250                         loan from parents     200                                   watch                200                         truck                       3200                                   Checking Account       560                                                                                        Savings Account 1      945                                                                                  Savings Account 2   3400                                                                                      TOTAL                 $  6555               TOTAL              $8050                LOSS $-1495                          
8 0
3 years ago
A recession is often considered to be:_______
Gennadij [26K]

Answer:

The correct answer is letter "A": an economic downturn that persists for more than two consecutive quarters of the year.

Explanation:

Recessions are economic downturns in an economy characterized by the fall growth for more than two consecutive quarters. The most important indicator that determines the economic downturn is the real Gross Domestic Product (GDP). The National Bureau of Economic Research (NBER) is the entity in charge of calling the recession.

7 0
3 years ago
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