24,513 500
357 50
500/50 = 10
10 times greater
Answer:<u> -0.9 ; inelastic</u>
Explanation:
Given:
The average price of wheat per metric ton in 2012 = $305.75
Demand (in millions of metric tons) in 2012 = 672
The average price of wheat per metric ton in 2013 = $291.56
Demand (in millions of metric tons) in 2013 = 700
We will compute the elasticity using the following formula:
ε = 
ε = 
Now , we'll first compute 
i.e.
= 
= 0.04081
Similarly for 
i.e.
= 
= -0.0475
ε = 
ε = -0.859
-0.9
we know that ;
If, ε > 1 ⇒ Elastic
ε < 1 ⇒ Inelastic
ε = 1 ⇒ unit elastic
<u><em>
Here , ε = -0.859
-0.9 </em></u>
<u><em>Therefore ε is inelastic.</em></u>
If you are solving for the question in the picture your answer would be 18. Whiich is letter A.
12x+15y=390 Original Equation
12(10)+15y=390 Replace x with 10
120 + 15y= 390 Mutiply 12 by 10
-120 = -120 subtract 120 on both sides to simplfy the equation
15y= 270 New equation
÷15 = ÷15 To get the variable alone divide 15 on both sides
y=18 Your value for y.