1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
asambeis [7]
3 years ago
14

Using the midpoint formula, calculate elasticity for the following change in demand.

Business
1 answer:
emmainna [20.7K]3 years ago
3 0

Answer:

-2.33

Explanation:

The computation of the price elasticity of demand using mid point formula is shown below:

= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of quantity demanded)

where,

Change in quantity demanded would be

= Q2 - Q1

= 5,000 - 2,500

= 2,500

And, average of quantity demanded would be

= (5,000 + 2,500) ÷ 2

= 3,750

Change in price would be

= P2 - P1

= $0.45 - $0.60

= -$0.15

And, average of price would be

= ($0.45 + $0.60) ÷ 2

= 0.525

So, after solving this, the price is -2.33

You might be interested in
Suppose you borrowed $25,000 at a rate of 8% and must repay it in 4 equal installments at the end of each of the next 4 years. h
babunello [35]
It would be 610.32 . My teacher helped me with that one
4 0
3 years ago
Type the correct answer in the box. Spell all words correctly.
Shalnov [3]

The marketing method used in the situation described is advertising.

<h3>What is marketing?</h3>

Marketing is a business term that refers to the set of actions of a company intended to intentionally stimulate the demand and purchase of goods and services.

One of the most popular marketing actions is advertising, in which advertisements are created to create a need for the buyer to purchase that good or service. Sometimes advertising includes a specialization, that is, it focuses on a specific audience.

In the case described, the company is using advertising so that people believe they need to buy the ticket and participate in the experience offered by it. Additionally, people will be more interested in this package because it includes different activities from other cruises.

Learn more about marketing in: brainly.com/question/10789897

3 0
2 years ago
Name at least four consumer rights.Does a homeowner's insurance policy cover the damage done from a house fire?
Sonbull [250]

Answer:

always,

Explanation:

if a house catches fire and u have insurance it will be covered

5 0
3 years ago
Read 2 more answers
What is the definition of corporate social responsibility?a. the rules by which social rewards are attainedb. the coordination o
Klio2033 [76]

Answer:

The correct answer is option c.

Explanation:

Corporate social responsibility is a modern concept regarding a companies' sense of responsibility towards the community and the ecological environment.

It means that the businesses have the responsibility to act for the benefit of the society and the environment along with profit maximization.

It is also termed as sustainable business, corporate citizenship etc.

3 0
3 years ago
Goldtone is a multinational communications and information technology corporation. its principal products are mobile telephones
marysya [2.9K]
I think the correct answer would be crowdsourcing. It is a practice that involves obtaining certain information from the market or the public. It allows the consumers to suggest and comment on the products a company has. Hope this answers the question.
8 0
3 years ago
Other questions:
  • An arbiter is consulted when
    12·1 answer
  • A client presents to the emergency department with severe epistaxis. Which client position is most beneficial?
    8·2 answers
  • The blank view in a presentation program displays your slides in full screen mode
    11·2 answers
  • OB Mod stands for: A. Organization Behavior Modification B. Organization Betterment Management C. Organization Behavioral Modera
    6·1 answer
  • SDJ, Inc., has net working capital of $2,060, current liabilities of $5,550, and inventory of $1,250. What is the current ratio?
    9·1 answer
  • Ralph works in the HR department and is in charge of developing the plans for how people are paid and how the employee benefits
    5·1 answer
  • Botosan Factory has budgeted factory overhead for the year at $717,474, and budgeted direct labor hours for the year are 364,200
    14·1 answer
  • Why do you think p2p apps have become so popular?
    7·1 answer
  • Accenture is helping a retail company increase efficiency in the management of customer transactions, payment processing, and an
    8·1 answer
  • Absorption costing can lead managers to mistakenly believe that fixed manufacturing overhead costs will Blank______ in total as
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!