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viktelen [127]
3 years ago
12

When going from a price of $160 per unit to a price of $140 per unit, what is the price elasticity of demand of GPS units?

Business
1 answer:
olya-2409 [2.1K]3 years ago
7 0

The correct answer is the following.

When going from a price of $160 per unit to a price of $140 per unit, the price elasticity of demand for GPS units is -2.33.

The proper calculation is the following. (80-120)/120= -0.334

(160-140)/140= 0.1429=-0.334/0.1429=-2.33.

When we refer to the economic term "price elasticity," we considered it as the change in the quantity demanded of a good and the change it presents in its price. This concept refers to the sensitivity of the price's product. Its formula to calculate the Price Elasticity of Demand is % change in Quantity Demanded / % change in price.

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The balance sheet given below is presented for the partnership of Janet, Anton, and Millet: Cash $60,000 Liabilities $80,000 Oth
Effectus [21]

Answer:

Janet will receive=$30,000

Explanation:

According to the information of the exercise, consider the following calculations.

<em>Step 1.</em> Total net assets realized=(60,000+50,000)=$110,000

<em>Step 2.</em> Less : liabilities paid=$80,000

<em>Step 3.</em> Remaining balance=$30000

Hence Janet will receive=$30,000

7 0
3 years ago
Suppose that market demand is Q = 660 – 12P and marginal cost is MC = 5. The consumer surplus in a perfectly competitive market
Ad libitum [116K]

Answer: 15000; 3750

Explanation:

From the question,

Q = 660 – 12P

MC = 5

The consumer surplus in a perfectly competitive market will be:

P = MC

Therefore, P = 5

Q = 660 - 12P = 660 - 12(5) = 660 - 60 = 600

Consumer surplus = 1/2 × (55 - 5) (600)

= 1/2 × 50 × 600

= 15,000

For monopoly, MR = MC

Total Revenue = P × Q

Since Q= 660 - 12P

P = (660 - Q)/12

TR = P × Q

= (660 - Q)/12 × Q

= (660Q- Q²)/12 × Q

MR = (660 - 2Q)/12

MR = MC

(660 - 2Q)/12 = 5

(660 - 2Q) = 5 × 12

660 - 2Q = 60

2Q = 660 - 60

2Q = 600

Q = 600/2

Q= 300

Since P =(660 - Q)/12

= (660 - 300)/12

= 360/12

= 30

Consumer surplus = 1/2 × (55 - 30) (30)

= 1/2 × 25 × 300

= 3750

Therefore, the answer is 15000; 3750

7 0
3 years ago
Eric's Used Book Store prepares its financial statements in accordance with IFRS. Inventory was purchased for €6 million and lat
andrew-mc [135]

Answer:

€6 million

Explanation:

As we know that

According to the International Financial Reporting Standards, if the net realizable value of the inventory increases then the written down of reversal value is required

And according to the GAAP, the inventory should be valued at lower of cost or net realizable value

So in the given case, the inventory is purchased at €6 million and now it is estimated value is  €7 million so the lower value i.e €6 million should be reported on the balance sheet.

4 0
3 years ago
What is a source of equity financing?
Tpy6a [65]
The answer is B because I done my research online and I did my calculations and according to my calculations that’s the andwer
3 0
2 years ago
An investigator conducting a study of a medical device under an ide is required to complete and sign
Anika [276]

An investigator conducting a study of a medical device under an ide is required to complete and sign an investigator's agreement. It is a statement of the investigator's commitment to conduct the investigation in accordance with the agreement, the investigational plan, the IDE and other applicable FDA regulations, etc., it also supervise all testing of the device involving human subjects, and ensure that the requirements for obtaining informed consent are met.

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