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Nookie1986 [14]
3 years ago
12

When the price of hamburgers increased from $1.50 to $2.75, the quantity demanded decreased from 375 units sold to 250 units sol

d. Using the midpoint method, hamburgers are said to be:_____
Business
1 answer:
Ghella [55]3 years ago
7 0

Answer:

Inelastic

Explanation:

When the price of hamburgers increased from $1.50 to $2.75, the quantity demanded decreased from 375 units sold to 250 units sold. Using the midpoint method, hamburgers are said to be inelastic

1. Change in price = 2.75-1.5 / (1.5+2.75)/2 = 1.25/2.125 = 0.59

2. Change in quantity demanded = 375-250 / (375+250)/2 = 125/ 312.5 = 0.4

3. Price Elasticity = 0.4/0.59 = 0.68

4. When the value of elasticity is less than 1, it suggests that the demand is insensitive to price and is inelastic

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The correct answer is letter "B": False.

Explanation:

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Tom Cruise Lines Inc. issued bonds five years ago at $1,000 per bond. These bonds had a 25-year life when issued and the annual
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<u>Solution and Explanation:</u>

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Money that has been or will be paid regardless of the decision whether to proceed with the project is:
bezimeni [28]

Answer:

Sunk costs.

Explanation:

Sunk costs refers to historical funds spent or incurred that cannot be recovered. Such costs are considered irrelevant during decision making which impacts on the business's future as they present no influence on present or future prospects.

Example

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Critically analyse the difference and the point of convergence between floor inspection and functional inspection
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Answer:

The overview of the give scenario is described in the explanation section below.

Explanation:

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4 0
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Prepare the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted eac
bekas [8.4K]

Answer:

Answer for the question:

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is explained in the attachment.

Explanation:

Download pdf
7 0
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