Answer:
The correct answer is -0.2.
Explanation:
According to the scenario, the given data are as follows:
When rate = $1.50
Hot dogs sold at $1.50 = 500 units
And When rate = $1.35
Hot dogs sold at $1.35 = 510 units
So, we can calculate the price elasticity by using following formula:
Price elasticity = (%change in quantity ) ÷ ( %change in price )
Where, %change in quantity = (( 510 - 500 ) × 100) ÷ 500
= 1,000 ÷ 500
= 2
and %change in price = ((1.35 - 1.50 ) × 100) ÷ 1.50
= (-10)
So, by putting the value:
Price elasticity = 2 ÷ (-10)
= -0.2
Hence, the price elasticity of demand for hot dogs is -0.2.
Based on the fact that Damien invested $5,000 and left it in an account that earns 6% for 4 years, the investment worth would be b. $6,312.38.
<h3>What would be the value of the investment?</h3>
The value of the investment in 4 years is considered to be its future value when looking at it from the present.
Using the rate being earned, the investment amount, and the number of years the investment will be invested, the future value formula is:
Future value = Investment x ( 1 + rate)^ number of years
Solving gives:
= 5,000 x ( 1 + 0.06) ⁴
= 5,000 x 1.06⁴
= 5,000 x 1.26247696
= $6,312.3848
= $6,312.38
In conclusion, the value of Damien's investment after a period of four years at 6% per year comes to $6,312.38.
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Answer:
She must sell 7,500 copies to mantain the profits when price changes to $15.
Explanation:
- Let's start with a definition of profit or benefit: Benefit=
- At the beggining, she obtained a profit of $75,000: She sold 5,000 copies, and she got $20-$5=$15 dollars for each of the 5,000. units sold, which means a benefit of
dollars. - Then, if she wants to keep the $75,000 profits when prices falls to $15, she must sell more copies:
. Then, the quantity she must sell to mantain the profit constant at $75,000 is New quantity=7,500.
Answer:
$27,300
Explanation:
Let husband's salary be x
Wife's salary is 15% more than husband's salary. This implies that wife's salary is 15% of x plus x.
Wife's salary = 0.15x + x
= 1.15x
Sum of their salaries = $58,695
Substituting the values in the equation:
58,695 = 1.15x + x
2.15x = 58,695
x = $27,300
Husband's annual salary is computed as $27,300
i guess the correct answer is conciseness
Khalida is sending an e-mail message to a client. Before sending it, she wants to make sure that she has made her point in the fewest possible words.
Khalida is checking for conciseness.
