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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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Ruth is taking ASVAB exam. Match each question with the correct section.
ValentinkaMS [17]

Answer: See explanation

Explanation:

Here's the complete question:

Ruth is taking ASVAB exam. Match each question with the correct section

Arithmetic Reasoning

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4 0
3 years ago
Read 2 more answers
You have decided that you want to be a millionaire when you retire in 45 years.
fiasKO [112]

Answer and Explanation:

The computation is shown below:

We use the formula that is given below:

Invested amount = $1,000,000 present value

Present value = 1 ÷ (1 + rate of interest)^number of years

a.

The amount invested is

= $1,000,000 ÷ (1.1104)^45

= $8,983.07

b,

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4 0
3 years ago
Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021:
nignag [31]

Aug. 1 Inventory On Hand—2,000 Units; Cost $5.70 Each.

Second sales assumed to be 7,000 units at a price of $11.40 each.

Answer:

Altira Corporation

August 2021 Ending Inventory & Cost of Goods Sold:

1. Ending Inventory = 9,000 units at $5.88 per unit = $52,920

2. Cost of goods sold =

9,600 x $5.87 = $56,352

7,000 x $5.95 =  $41,650

16,600 units   =  $98,002

Explanation:

a) Calculations:

                                         Units           Unit Cost       Total Cost

Beginning Inventory      2,000            $5.70              $11,400

Purchases                     12,000            $5.90            $70,800

Weighted average cost = ($11,400 + $70,800) / 14,000 = $5.87

Sales                             (9,600)          $12.00                               $115,200

Units remaining             4,400            $5.87             $25,828

Purchases                      7,200             $6.00            $43,200

Weighted average cost = ($25,828 + $43,200) / 11,600 = $5.95

Sales                             (7,000)            $11.40                              $79,800

Units remaining            4,600             $5.95             $27,370

Purchases                     4,400             $5.80             $25,520

Weighted average cost = ($27,370 + $25,520) / 9,000 = $5.88

Ending Inventory        9,000               $5.88             $52,920

b) The 'Average Cost Method' or the Weighted Average Cost Method assumes that the cost of inventory is based on the average cost of the goods available for sale during the period. To compute the average cost, divide the total cost of goods available for sale by the total units available for sale.

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3 years ago
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jenyasd209 [6]

Answer:

SWOT Analysis.

Explanation:

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I think the answer is probably C
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