The price of the water needs to be raised by 40% when the consumption of water reduces by 10% and the price elasticity of demand results to 25%.
<h3>What is meant by the price of elasticity of demand?</h3>
The price elasticity of demand is determined as the proportionate variation in quantity with respect to variation in the price of a good.
Given values:
Change in water consumption (fall): 10%
Price elasticity of demand: 25%
Computation of percentage change in the price of water:
Therefore, there is an increase in water price by 40%.
Learn more about the price elasticity of demand here:
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<span>This is a true statement. When the supply of notebooks is decreased in the market, this would consequently cause the quantity that is supplied or available to simultaneously go down, despite the fact that the demand remains unchanged as a result of continued need for the item.</span>
Answer:
cost allocation process
Explanation:
Cost allocation process is the process of identifying and allocating cost to products. These products in which the cost are assigned are products in which they want to measure how much was spent to produce the product and the profit incurred form that product. Normally cost allocation process is based on approximations, it can only be done to be as close as possible to the incurred cost
Answer:
$515.56
Explanation:
Since it is a non-subsidized loan, interest would accrue during the 4 years Jeffery is in college.
So, find interest accrued using simple interest rate formula;
Simple interest (SI)= Principal * rate* time
SI = 30,000*0.052*4
SI = 6240
Next, add this amount to the borrowed loan amount;
Total amount in 4 years = 30,000 + 6,240 = 36,240
Using a financial calculator, input the following to solve for the monthly PMT;
PV = -36,240
FV = 0
Monthly interest rate ; I = 5.2%/12 = 0.433%
N = 7*12 = 84 months
then compute payment; CPT PMT = $515.56
Answer:
Percentage total return = 0.1147 or 11.47%
Explanation:
Below is the calculation for a percentage of total return:
The initial price of share = $88
Dividend amount = $2.10
Ending price of share = $96
Use the below formula to find the percentage return:
Percentage total return = [(Ending price - initial price) + Dividend amout] ÷ Initial price
Percentage total return = [(96 - 88) + 2.10] / 88
Percentage total return = 0.1147 or 11.47%
