Answer:
The correct answer to the following question, price elasticity of demand is 1.25% .
Explanation:
The formula that cab be used to calculate the price elasticity of demand -
% change in quantity demanded / % change in price
Where,
% change in quantity demanded = ( Q2 - Q1) / (Q2 + Q1) / 2 X 100
% change in price = (P2 - P1) /( P2 + P1) / 2 X 100
Here Q2 = 450, Q1 = 350, P2 = $1.80, P1 = $2.20
Putting the values in the formula =
% change in quantity demanded = ( Q2 - Q1 / Q2 + Q1) / 2 X 100
= ( 450 - 350) / (450 + 350) / 2 x 100
= 100 / (800) / 2 x 100
= 100 / 400 x 100
= 25%
% change in price = (P2 - P1) /( P2 + P1) / 2 X 100
= ($1.80 - $2.20 ) / ($1.80 + $2.20 ) / 2 x 100
= (-.4) / 4 / 2 x 100
= -.4 / 2 x 100
= - 20%
so, % change in quantity demanded / % change in price =
25% / -20%
= 1.25%
Answer:
A. determining a few key ideas and how to best sequence them.
Explanation:
The effective communication is one in which the speaker is able to disseminate his ideas to the listener correctly. The panel of successful entrepreneur is interested in investing in the venture. The meeting is limited to 15 minutes so we should cover only key points and focus on their benefits of investing. The Entrepreneur has time to listen key ideas and its upon us to best sequence those ideas which leave a positive impact on the panel.
The probability that demand is greater than 1800 gallons over a 2 hour period is : 0.5
<u>Given data :</u>
Mean value of gasoline per hour = 875 gallons
Standard deviation = 55 gallons
<h3>Determine the probability of demand being greater than 1800 gallons over 2 hours </h3>
Demand for gas in 1 hour = X₁
Demand for gas in 2 hours = X₁ + X₂
Therefore ; ( X₁ + X₂) ~ N ( u₁+u₂, sd₁² + sd₂² )
In order to calculate probabilities for normals apply the equation below
Z = ( X- u ) / sd
where : u = 1800, sd = √ ( 55² + 55² ) = 77.78
using the z-table
P( Y > 1800) = P( Z > ( 1800 - 1800 ) / 77.78)
= P( Z>0 ) = 0.5
Hence we can conclude that The probability that demand is greater than 1800 gallons over a 2 hour period is : 0.5.
Learn more about probability : brainly.com/question/24756209
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Revenue in a business transaction is recognized <u>When </u><u>goods </u><u>or </u><u>services </u><u>are </u><u>provided </u><u>to </u><u>customers </u><u>and at the </u><u>amount expected </u><u>to be </u><u>received </u><u>from the customer. </u>
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<h3>What is revenue?</h3>
- Refers to the amount paid to a company for the provision of goods and services.
- Can only be recognized when that good or service has been provided to the customer.
Until a good or service is provided to the customer who bought it, revenue should not be recognized because it has not been earned by a company.
In conclusion, option C is correct.
Find out more on revenue recognition at brainly.com/question/1380073.