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Anastasy [175]
3 years ago
10

Two drivers—tom and jerry—each drive up to a gas station. before looking at the price, each places an order. tom says, "i'd like

10 gallons of gas." jerry says, "i'd like $10 worth of gas." what is each driver's price elasticity of demand?
Business
1 answer:
Tatiana [17]3 years ago
6 0
Price elasticity of demand is defined by Change in Quantity demanded / Change in Price. 

Tom ordered 10 gallons of gas without asking about the price. This means that no matter the price, Tom orders the same quantity of gas (quantity demanded does not change with price). His demand is perfectly inelastic, or 0. 

Jerry orders $10 worth of gas. This means that no matter how much it gives him, Jerry will pay $10. The price elasticity of demand depends on how much the price changes by.
For example, if price doubles from $5/gal to $10/gal, demand falls by 50% (2 gallons to 1 gallon), making his price elasticity -0.5
If the price increase 10% from $10/gal to $10.10/gal, demand falls 1% from 1 gal to .99 gallons, making his price elasticity -0.1
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Answer:

Will increase to $460,000

Explanation:

Palmer Inc. currently produces 110,000 units at the rate of $440,000

Next year they are expected to produce 115,000 units

Since the cost is variable, the total cost can be calculated as

(440,000/110,000) × 115,000

= 4×115,000

= $460,000

Hence the total cost is $460,000

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3 years ago
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Web-based social networking, recordings, email, web content, versatile content push offers  

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8 0
3 years ago
Define working capital. How is working capital computed?
Phoenix [80]

Working capital is calculated by subtracting current liabilities from current assets shown on a company's balance sheet. Current assets include cash, accounts receivable and inventories. Current liabilities include accounts payable, taxes, wages and accrued interest.

Working capital is calculated by subtracting current assets from a company's current liabilities. For example, if a company has current assets of $100,000 and current liabilities of $80,000, its working capital is $20,000.

To calculate the working capital requirement, the following formula can be used: Working Capital (WC) = Current Assets (CA) – Current Assets (CL).

Learn more about working capital here:brainly.com/question/19804046
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8 0
2 years ago
On a particular day, the Dow Jones had a rate of change of -2.1%. Which of the following statements must also be true?
Ne4ueva [31]

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A) the average of the 30 stocks in the dow jones increased.

B) every stock in the dow jones decreased

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Explanation: The rate of change is used to measure or keep track of percentage change in stock prices over time. The change might be a positive or negative change. The change of - 2.1% indicated above exemplifies a negative change and thus a decrease or fall in stock prices over the measured time period. It indicates a downward trend and thus a decline in the stocks of dow jones.

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3 years ago
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beks73 [17]

Answer:

very few hierarchical levels

Explanation:

According to my research on different company organizational structures, I can say that based on the information provided within the question Herman Miller is most likely an organization that has​ very few hierarchical levels. This is since it is mentioned that the employees are placed in teams that are not higher or lower in rank from one another, but at the same time there is still a boss of the company. Therefore there are hierarchical levels but they are extremely few.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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