Answer:
Check the explanation
Step-by-step explanation:
Kindly check the attached image below to see the step by step explanation to the question above.
Answer:
1/21
Step-by-step explanation:
2/7 ÷ 6 =
2/7 x 1/6 = 2/42
Simplify by dividing the numerator and denominator by 2
1/21
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Answer: (B) The price elasticity of demand for good Z = 0.86
Step-by-step explanation:
The formula for determining elasticity of demand by using the midpoint method is
(Q2 - Q1)/[(Q2 + Q1)/2] / (P2 - P1)/[(P2 + P1)/2]
Where
P1 is the initial price of the item.
P2 is the final price of the item.
Q1 is the initial quantity demanded for the item.
Q2 is the final quantity demanded for the item.
From the information given,
P1 = 10
P2 = 15
Q1 = 85
Q2 = 60
The price elasticity of demand for good Z = (60 - 85)/[(60 + 85)/2] / (15 - 10)/[(15 + 10)/2]
= (-25/72.5) / (5/12.5) = -25/72.5 × 12.5/5
= - 312.5/362.5 = - 0.86
A+s=2000
5a+3s=8500
a=-s+2000
-5s+10000+3s=8500
-2s=-1500
s=750
a=1250
They sold 750 student tickets and 1,250 adult tickets