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ratelena [41]
3 years ago
12

At a total cost of $20, the number of trips is 190,000. if you use an estimate of the elasticity equal to 2, how many trips will

people take when the fee is $16? (hint: take the percent change in price and multiply it by the elasticity of 2. this is the percent change in quantity. apply this to the 190,000 quantity at a $20 total cost. finally, subtract off this change from the 190,000 quantity.)
Business
1 answer:
LekaFEV [45]3 years ago
3 0
<span>An elasticity of 2 means that a 1% increase in price will cause a 2% decrease in demand.
 Change in price in % = (20 - 16) / 20 * 100 = 4/20 * 100 = 20%. So there's a 20% decrease in price (from $20 to $16)
 A 20% decrease in price will result in a 40% increase in demand since elasticity equals 2.
 So 40/ 100 * 190, 000 = 76, 000
 Hence since there's an increase in demand the people will make 190, 000 + 76, 000 = 266, 000</span>
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A mortgage clause that states that the mortgage is due and payable upon certain conditions, such as the non-payment is the option(d) i.e, the Acceleration clause.

<h3>What is a mortgage clause?</h3>

A provision in an insurance policy (such as a fire insurance policy) that allows the designated mortgage to receive payment for property damage or loss.

There are different types of clauses:

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If the borrower breaches the conditions of the agreement, an acceleration clause in a mortgage or trust deed states that the entire obligation is payable immediately. Additionally, it will specify the circumstances under which a lender may request full loan payback. For instance, home loans frequently feature an acceleration provision that kicks in after a certain number of missed payments.

Most of the time, it is harmful to accelerate a loan. Typically, it denotes that the borrower has fallen behind on payments or broken the terms of the agreement, and the lender is requiring prompt repayment of the whole loan balance to avoid foreclosure.

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1 year ago
Buscorp wants to introduce a new procedure for processing customer requests. if this change will require employees to break old
NeTakaya
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2 years ago
A small business has determined that the machinery they currently use will wear out in 16 years. To replace the new machine when
Afina-wow [57]

Answer:

Present value deposit today = 216,886 (Approx)

Explanation:

Given:

Number of year (n) = 16 years x 4 quarter = 64

Rate of interest (r) = 1.6% = 0.016 / 4 = 0.004

Future value = $280,000

Present value = ?

Computation of present value deposit today:

Present\ value = \frac{Future\ value}{(1+r)^n}\\\\Present\ value = \frac{280,000}{(1+0.004)^{64}}\\\\Present\ value = \frac{280,000}{1.291}\\\\Present\ value = 216,886.135

Present value deposit today = 216,886 (Approx)

8 0
3 years ago
In a market economy, a high price is a signal for:___________.1. Producers to supply more and consumers to buy less. 2. Producer
shepuryov [24]

Answer: Answer is 1

Explanation:

In a market economy, a high price is a signal for producers to supply more and consumers to buy less.

3 0
3 years ago
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Joe quits his computer programming​ job, where he was earning a salary of ​$65,000 per​ year, to start his own computer software
Verizon [17]

Answer:

The accounting cost and the economic cost associated with​ Joe's computer software business is $75,00 and the $165,000 respectively.

Explanation:

The computation of the accounting cost and the economic cost is shown below:

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3 years ago
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