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nordsb [41]
3 years ago
12

The price of cheddar cheese rises from $1 per pound to $2 per pound, and as a result, producers of cheese increase their product

ion from 5 thousand tons per month to 55 thousand tons per month. What is the arc price elasticity of supply
Business
1 answer:
Mazyrski [523]3 years ago
4 0

Answer:

the arc price elasticity of supply is \frac{5}{2}

Explanation:

Given:

P1: $1 and Q1 = 5 thousand tons

P2:$2 and Q2 = 55 thousand tons

We need to find:

%ΔQ = \frac{Q2-Q1}{(Q1+Q2)/2} = \frac{55-5}{(55+5)/2} = \frac{5}{3}

%ΔP = \frac{P2-P1}{(P1+P2)/2} = \frac{2-1}{(1+2)/2} = \frac{2}{3}

As we know that, the arc price elasticity of supply :

E = %ΔQ  / %ΔP

<=> E = \frac{5}{3} /\frac{2}{3} = \frac{5}{2}

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Students who live on campus and purchase a meal plan are randomly assigned to one of three dining halls: the Commons, Northeast,
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Answer:

What is the probability that the next student to purchase a meal plan will be assigned to the Commons?a. 0.33

Explanation:

P(A) = (No. of ways A can occur)/(Total no. of possible outcomes)

P=1/3

P=0,333

5 0
3 years ago
Read 2 more answers
Nash's Trading Post, LLC had a balance in the Accounts Receivable account of $761000 at the beginning of the year and a balance
WARRIOR [948]

Answer:

4

Explanation:

receivable turnover = net credit sales / average inventory

avarage iventory = ($761000 + $841000)  / 2 = $801,000

$3,204,000 / $801,000 =  4

8 0
3 years ago
Which aspect might be the first to affect a candidate’s first impression on a potential employer before the interview process be
11111nata11111 [884]

Answer:

The correct answer is the option D: communication.

Explanation:

To begin with, the tool known as communication give the people the possibility to <em>express themself in order to obtain a comfortable answer and action in return</em>. It focuses on the action of letting the other person know what the thoughts are and how that person think. Therefore that before the interview process begins, <u><em>it is very important to communicate in a proper and formal way to the people who contacted you and also to do it by using technical words as a way to show off your knowledge</em></u>.

8 0
3 years ago
Larry drinks a 12-pack of beer each day and believes all would be fine if people would just "get off his back." which criterion
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The criterion of abnormality that is absent from the given scenario above is personal discomfort. Personal discomfort is present when an individual is experiencing an emotional reaction in which is caused by factors such as stress that would lead to anxiety or discomfort.

5 0
3 years ago
You plan to make annual deposits of $1,000 into an account at the beginning of each year for the next 12 years. If you can earn
nevsk [136]

Answer:

Final balance = $ 14,272.93

Explanation:

Annual Deposits(PMT) = $1,000

Number of years(N) = 12

Rate of interest (r) = 3.1% = 0.031

Future Value = ?

Computation:

Future\ Value = PMT[\frac{(1+i)^n-1}{i} ] \\Future\ Value = 1,000[\frac{(1+0.031)^{12}-1}{0.031} ] \\Future\ Value = 1,000[\frac{(1.031)^{12}-1}{0.031} ] \\Future\ Value = 1,000[\frac{1.44246-1}{0.031} ] \\Future\ Value = 1,000[\frac{0.44246}{0.031} ] \\Future\ Value = 1,000[14.2729] \\Future\ Value = 14,272.9252

Final balance = $ 14,272.93

5 0
2 years ago
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