1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
aniked [119]
3 years ago
6

Suppose a new manufacturing technology results in an expansion in the supply of golf balls in the United States of 15%. If the e

lasticity of demand of golf balls sold in the US is -0.4, the new equilibrium price will be
Business
1 answer:
Lapatulllka [165]3 years ago
8 0

Answer:

If the elasticity of demand of golf balls sold in the US is -0.4, the new equilibrium price will be -37.5% less price

Explanation:

In order to calculate the new equilibrium price If the elasticity of demand of golf balls sold in the US is -0.4 we would have to use the following formula:

Price elasticity of demand= percentage change in quantity demanded /percentage change in price of the good

According to the given data we have the following:

Price elasticity of demand=-0.4

percentage change in quantity demanded=15%

Therefore, -0.4=15%/percentage change in price of the good

percentage change in price of the good=15%/-04

percentage change in price of the good=-37.5%

Therefore, If the elasticity of demand of golf balls sold in the US is -0.4, the new equilibrium price will be -37.5% less price

You might be interested in
Why do I have to pay
Alex Ar [27]

Answer:

Pay for what?

Explanation:

Most things require you to pay a fee.

4 0
3 years ago
Read 2 more answers
Pappy Corporation received cash of $36,000 on September 1,2017 for one year's rent in advance and recorded the transaction with
fenix001 [56]

Answer:

debit Unearned Rent Revenue and credit Rent Revenue, $12,000.

Explanation:

Provided information we have,

Rent is received on 1 September 2017 for a period of 1 year on which it is accounted as Unearned Rent amounting $36,000.

Entry on that date would be

Cash A/c Dr.                  $36,000

To Unearned Rent                        $36,000

At the end of the year on 31 December 2017, we have period of current year lapsed = 1 September to 31 December = 4 months.

Thus rent income for the year = $36,000 \times \frac{4}{12} = $12,000

Therefore this rent of $12,000 will be recognized as rent income for the year 2017.

Entry will be

Unearned Rent A/c Dr.            $12,000

          To Rent Revenue                         $12,000

6 0
3 years ago
Which type of financial institution is owned by its depositors and borrowers?
fredd [130]
"credit unions" are owned by the people who deposit and are loaned money
3 0
3 years ago
Explain two reasons why accurate market research information is important
Sergeeva-Olga [200]

Answer:

Form partnerships with other businesses. Learning about who your customers are, such as their demographics, can help you find other small businesses that serve them. You can approach these businesses for joint promotions that'll be mutually beneficial.

Create profitable order upgrades. Knowing the other products and services that your customers tend to buy can help you come up with add-ons, product bundles, and up-sells that increase the average value of each order.

Explanation:

4 0
3 years ago
Now, consider the situation in which Noah wants to earn a return of 7%, but the bond being considered for purchase offers a coup
Oxana [17]

Answer:

$1,053.29  

Explanation:

The intrinsic value of the bond is the present value of the bond's future  cash flows, semiannual coupons for 3 years as well as the face value at the bond's maturity payable to bondholders.

The bond price can be determined using a financial calculator bearing in mind that the calculator would be set to its default end mode before making the following inputs:

N=6(there are 6 semiannual coupons in 3 years)

PMT=45(semiannual coupon=1000*9%*6/12=45)

I/Y=3.5(semiannual yield=7%*6/12=3.5%

FV=1000*(the face value of the bond is $1000)

CPT

PV=$1,053.29  

4 0
3 years ago
Other questions:
  • According to the rule of 72, if the GDP of the Apex Federation is growing at 1.7% per year, its economy will double in approxima
    6·1 answer
  • Tracy has an interview with a disorganized, unprepared recruiter and concludes that the company does not have a very professiona
    11·1 answer
  • Marc is a high school graduate and currently works as a corrections officer at a local prison. He would like to go back to schoo
    10·1 answer
  • Ruth markets rock concerts. She is looking for a company that will handle all of the various mailings needed to promote the purc
    8·1 answer
  • A corporation distributes a piece of personal property to a shareholder, in complete liquidation. The corporation had a basis of
    5·1 answer
  • Karen and Mike currently insure their cars with separate companies, paying $400 and $600 a year. If they insured both cars with
    12·1 answer
  • A firm has net working capital of $440, net fixed assets of $2,186, sales of $5,500, and current liabilities of $750. How many d
    5·1 answer
  • Your grandmother has promised to give you $10,000 when you graduate from college. If you speed up your graduation by one year an
    10·1 answer
  • Consider the two countries of Swala and Atlantis. Swala is a major producer of wheat and rice while Atlantis specializes in the
    11·1 answer
  • Why Corporations Hedge?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!