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emmainna [20.7K]
4 years ago
14

Adam and barb go to the store to purchase some lottery tickets. without looking at the price, adam says "i’ll take 10 lottery ti

ckets," and barb says "i’ll take $10 worth of lottery tickets." what is each person’s price elasticity of demand for lottery tickets
Business
1 answer:
Shtirlitz [24]4 years ago
6 0

Answer:

Price elasticity of demand for Adam=0

Price elasticity of demand for Barb=1

Explanation:

Price elasticity of demand = %age change in demanded QTY / %age change in demanded price

The price is not important for Adam, and he demands a fixed quantity, hence his demand curve is vertical. A perfectly vertical demand curve is can inelastic demand curve and has price elasticity =0

The quantity is not important for Barb, and he demands a fixed price, hence his demand curve is horizontal. A perfectly horizontal demand curve is has price elasticity =1

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sleet_krkn [62]

Answer:C. The price per stock declined from 2008 to 2009

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5 0
3 years ago
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The accounting records of Whispering Winds Corp. show the following data. Beginning inventory 3,010 units at $6 Purchases 8,130
Sindrei [870]

Answer:

$66,700

b. LIFO = $70800

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Explanation:

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

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FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold

(3010 x 6) + [(9090 - 3010) x $8] = 66,700

Average cost = [(3010 x 6) + (8130 x 8)] /

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3 years ago
Which two types of accounts offer tax benefits before saving?
Ainat [17]
A and D are the correct answer
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3 years ago
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5 0
3 years ago
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If you started with $100 in the bank and you had $200 after letting it sit there for 5 years, what would be the annual interest
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The annual interest rate is 10 %.

Annual percent fee refers to the yearly interest generated with the aid of a sum it's charged to borrowers or paid to buyers. APR is expressed as a percentage that represents the real yearly price of price range over the time period of a mortgage or profits earned on investment If a man or woman borrows hundred rupees at one rupee interest, for instance, he needs to pay one rupee hobby in keeping with month. So in twelve months, he has to pay ten rupees.

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let the annual interest rate is r

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the annual interest rate is 10 %.

Learn more about The annual interest rate here:- brainly.com/question/2699966

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2 years ago
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