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yulyashka [42]
3 years ago
6

Suppose the own price elasticity of market demand for retail gasoline is -0.9, the Rothschild index is 0.6, and a typical gasoli

ne retailer enjoys sales of $1,450,000 annually. What is the price elasticity of demand for a representative gasoline retailer's product?
Business
1 answer:
kodGreya [7K]3 years ago
4 0

Answer:

-1.5

Explanation:

Given the following :

Rothschild index = 0.6

Elasticity of demand for total market = - 0.9

Annual sale = $1,450,000

Elasticity of demand for a representative retailer's product :

Using the Rothschild demand Elasticity relation:

Rothschild index = (Elasticity of demand for total market / Elasticity of demand for a representative retailer's product

0.6 = - 0.9 / Elasticity of demand for a representative retailer's product

Elasticity of demand for a representative retailer's product = - 0.9 / 0.6

= - 1.5

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b. volume variance.

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It mainly occurs as a result of the difference between the actual volume and the budgeted volume derived from the static budget.

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3 years ago
A market researcher for a cable company is seeking to determine the number of households in a selected neighborhood that consist
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3 years ago
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The current price for a good is ​$​, and units are demanded at that price. The price elasticity of demand for the good is . When
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Answer:

Consumer surplus decreases by $180.

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Current consumer surplus =  $25 * 90 unit = $2250

If the price of goods drop to $23 then the new consumer surplus will be

$23 * 90 units = $2070

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2 years ago
As a speaker, the best way to utilize the lectern during your speech is to
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Answer:

<u>use when your speech has notes.</u>

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A lectern is reading desk that is a tall stand with a sliding top to hold a book or notes.

Therefore, the best way to utilize the lectern during speech is to read notes while standing up and to rest ones hands on it when not making gestures. An example of this is seen when a President is giving a speech, he often uses a lectern.

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3 years ago
Value is the cash value of an investment at some time in the.
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Future Value is known to be the cash value of an investment at some time in the Future.

<h3>What is Future value (FV)? </h3>

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