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NARA [144]
3 years ago
9

Suppose that Bobo purchases 1 pizza per month when the price is $19 and 3 pizzas per month when the price is $15. What is the pr

ice elasticity of Bobo's demand curve?
Business
1 answer:
goldfiish [28.3K]3 years ago
4 0

Answer:

price elasticity of demand for Bobo's demand curve using the midpoint method = 4.25

Explanation:

the price elasticity of demand (PED) refers to the proportional change in quantity demanded when the price of the good or service changes by 1%.

In order to calculate PED for a portion of the demand curve we must use the midpoint method:

PED = {(Q2 - Q1) / [(Q2 + Q1) / 2]} / {(P2 - P1) / [(P2 + P1) / 2]} = {(3 - 1) / [(3 + 1) / 2]} / {(15 - 19) / [(15 + 19) / 2]} = (2 / 2) / (4 / 17) = 1 / 0.235 = 4.25

Bobo's PED is elastic since it is larger than 1.

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gayaneshka [121]

Answer: c

Explanation:

6 0
3 years ago
In what way does the IDP promote an integrated approach to the planning of municipal service delivery for development
allochka39001 [22]

Integrated Development Planning is primarily based on community desires and priorities. Communities have the opportunity to take part in figuring out their maximum critical needs.

<h3>What is municipal included Development Planning?</h3>

An Integrated Development Plan is a notable plan for a place that offers a normal framework for improvement.

It targets to coordinate the activities of the neighborhood and different spheres of presidency in a coherent plan to improve the quality of life for all of the human beings dwelling in a place.

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4 0
2 years ago
intext:"A corporation issued 6,000 shares of its $2 par value common stock in exchange for land that has a market value of $84,0
guajiro [1.7K]

Answer:

Date     Account Titles and Explanation              Debit       Credit

              Land                                                         $84,000

                 Common stock                                                     $12,000

                  Paid in capital in excess of par value                 $72,000

Workings:

Amount of Common stock = Number of shares * Paid in capital per share

= 6,000 shares * $2

= $12,000

Amount of excess of paid in capital = Market value of land - Amount of common stock

= $84,000 - $12,000

= $72,000

8 0
3 years ago
A single database that collects data and feeds it into applications that support each of the company's business activities, such
Montano1993 [528]

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a) true

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The aim of this system is to conduct each and every business activity in an effective and efficient manner so that each one can share the database so that tracking could be done that helps to reduce the time and cost.

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3 years ago
the house plan drawing titled "Elevation" shows the A. Inside views of different areas of the house B.outside views of the sides
Klio2033 [76]
The house plan drawing titled elevation shows the outside views of the house.
8 0
3 years ago
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