Answer:
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Explanation:
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Answer:
The answer is YED for concert tickets = 20%/ 20% = 1
YED for bus rides = -20% / 20% = -1
Explanation:
income elasticity of demand (YED) = % change in Quantity demanded / % change in income
% change in income= (240-200) / 200 * 100= 20%
YED for concert tickets = 20%/ 20% = 1
YED for bus rides = -20% / 20% = -1
The income elasticity of demand for concert tickets and bus rides is unitary which means the rise in income is proportionate to the increase in the quantity demanded.
Answer:
A) FV= 6414.27
B) FV=2000*(1.09^15)= 7284.97
Explanation:
Giving the following information:
A) Present value= $2,000
Compounded annually for 20 years at 6 percent.
n= 20
i=0.06
B) Present value= $2,000
Compounded annually for 15 years at 9 percent.
n=15
i= 0.09
To calculate the Final Value we need to use the following formula:
FV= Present value*(1+interest rate)^n
A) FV= 2000*(1.06^20)
FV= 6414.27
B) FV=2000*(1.09^15)= 7284.97
Answer:
The answer is below
Explanation:
The marginal revenue R'(t) = 
and the marginal cost C'(t) = 140 - 0.3t.
The total profit is the difference between the total revenue and total cost of a product, it is given by:
Profit = Revenue - Cost
P(T) = R(T) - C(T)
P(T) = ∫ R'(T) - C'(T)
Hence the total profit from 0 to 5 days is given as
![P(T) = \int\limits^0_5 {(R'(T)-C'(T))} \, dt= \int\limits^0_5 {(100e^t-(140-0.3t))} \, dt\\ \\P(T)= \int\limits^0_5 {(100e^t-140+0.3t))} \, dt\\\\P(T)= \int\limits^0_5 {100e^t} \, dt- \int\limits^0_5 {140} \, dt+ \int\limits^0_5 {0.3t} \, dt\\\\P(T)=100\int\limits^0_5 {e^t} \, dt- 140\int\limits^0_5 {1} \, dt+0.3 \int\limits^0_5 {t} \, dt\\\\P(T)=100[e^t]_0^5-140[t]_0^5+0.3[\frac{t^2}{2} ]_0^5\\\\P(T)=100(147.41)-140(5)+0.3(12.5)=14741-700+3.75\\\\P(T)=14045](https://tex.z-dn.net/?f=P%28T%29%20%3D%20%5Cint%5Climits%5E0_5%20%7B%28R%27%28T%29-C%27%28T%29%29%7D%20%5C%2C%20dt%3D%20%5Cint%5Climits%5E0_5%20%7B%28100e%5Et-%28140-0.3t%29%29%7D%20%5C%2C%20dt%5C%5C%20%5C%5CP%28T%29%3D%20%5Cint%5Climits%5E0_5%20%7B%28100e%5Et-140%2B0.3t%29%29%7D%20%5C%2C%20dt%5C%5C%5C%5CP%28T%29%3D%20%5Cint%5Climits%5E0_5%20%7B100e%5Et%7D%20%5C%2C%20dt-%20%5Cint%5Climits%5E0_5%20%7B140%7D%20%5C%2C%20dt%2B%20%5Cint%5Climits%5E0_5%20%7B0.3t%7D%20%5C%2C%20dt%5C%5C%5C%5CP%28T%29%3D100%5Cint%5Climits%5E0_5%20%7Be%5Et%7D%20%5C%2C%20dt-%20140%5Cint%5Climits%5E0_5%20%7B1%7D%20%5C%2C%20dt%2B0.3%20%5Cint%5Climits%5E0_5%20%7Bt%7D%20%5C%2C%20dt%5C%5C%5C%5CP%28T%29%3D100%5Be%5Et%5D_0%5E5-140%5Bt%5D_0%5E5%2B0.3%5B%5Cfrac%7Bt%5E2%7D%7B2%7D%20%5D_0%5E5%5C%5C%5C%5CP%28T%29%3D100%28147.41%29-140%285%29%2B0.3%2812.5%29%3D14741-700%2B3.75%5C%5C%5C%5CP%28T%29%3D14045)
