1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Virty [35]
3 years ago
6

Jaycee Jeans sold 40 pairs of jeans at a price of $40. When it lowered its price to $20, the quantity sold increased to 60 pairs

. Calculate the absolute value of the price elasticity of demand. Use the midpoint formula
A) 0.6
B) 1.67
C) 1.0
D) 0.53
Business
1 answer:
grigory [225]3 years ago
4 0

Answer:

The answer is: A) 0.6

Explanation:

First we will calculate the midpoint for units:

  • change in units = 40 - 60 = -20
  • average units = (40 + 60) / 2 = 50
  • midpoint for units = 20 / 50 = 0.4 (we only use positive numbers)

Now we will calculate the midpoint for price:

  • change in price = 40 - 20 = 20
  • average price = (40 + 20) / 2 = 30
  • midpoint for units = 20 / 30 = 0.67

Finally we divide 0.4 / 0.67 = 0.6

You might be interested in
Outline reasons why some chemicals are not suitable for man's use​
Vilka [71]

Answer: Chemicals such as insecticides, pesticides, and others must be kept away because they can contaminate food, and make it poisonous to anybody. Some can cause burns, vomiting, diarrhea, and in very large amounts, drowsiness or death. Chemical products may cause immediate health effects, such as skin or eye irritation or burns, or poisoning. There can also be longer-term health effects from chemicals.

Explanation:

4 0
2 years ago
Read 2 more answers
What is the term for selling related products
kupik [55]
<span>Cross-sell is the practice of selling or suggesting related or complementary products to a prospect or customer. Cross selling is one of the easiest and most effective methods of marketing.</span>
8 0
3 years ago
Read 2 more answers
Suppose that the price of basketball tickets at your college is determined by market forces. Currently, the demand and supply sc
belka [17]

Answer:

a) see attached graph. There is nothing unusual with the supply curve, it is simply fixed. This happens to most services, e.g. there is a fixed number of hotel rooms available for rent, in the short run you cannot add more rooms per night if the demand increases. In order to increase the quantity supplied, you would need to build a larger hotel, or in this case, a larger stadium.

b) the equilibrium price is $8 and the equilibrium quantity is 8,000 tickets

c) if the college plans to increase enrollment, the demand might increase, leading to a higher equilibrium price, but the supply will remain the same until the stadium is expanded.

Explanation:

Price              Quantity Demanded (Qd)          Quantity Supplied (Qs)

$4                            10,000                                        8,000

$8                             8,000                                        8,000

$12                            6,000                                        8,000

$16                            4,000                                        8,000

$20                           2,000                                        8,000

3 0
2 years ago
Businesses should customize invoices to best detail the products or services they provide.
Doss [256]

Answer: A

Explanation:

5 0
3 years ago
Read 2 more answers
Match the steps for conducting an informational interview with the task involved in each step or its purpose.
notsponge [240]

Explanation:

Informational interview is a bit different interview than a conventional interview. In this interview, a person seeks information from the interviewer. For example if you wish to take an interview of a scientist, you are actually seeking information from him.

In this question, the steps for conducting an informational interview match the following tasks:

1) Research your chosen career field.

a) Learn more about the company that interests you.

2) Identify someone to interview.

b) Make contact through email, a phone call, or mail to arrange the meeting.

3)Prepare for the interview

c) Choose a conservative, professional ensemble to wear

4) Conduct the informational interview

d) Encourage the interviewer to do most of the talking while you take notes

5) Follow up with your interviewer

e) Write a handwritten thank you letter to express that you want to say in touch.

6 0
3 years ago
Other questions:
  • Embezzlement is distinguished from fraud on the basis of:
    13·1 answer
  • Suppose disposable income increases by $2,000 . As a result, consumption increases by $1,500 . Answer the questions based on thi
    9·1 answer
  • A(n) _____ is a strategy that guarantees a solution to a problem. subgoal
    12·1 answer
  • Social compensation is especially likely when high-ability group members are suspected of loafing.
    8·1 answer
  • Linaweaver Inc. has $2.80 per unit in variable costs and $5.50 per unit in fixed costs and a production volume of 100,000 units
    12·1 answer
  • Alyeska Services Company, a division of a major oil company, provides various services to the operators of the North Slope oil f
    5·1 answer
  • The new owner of a beauty shop is trying to decide whether to hire one, two, or three beauticians. She estimates that profits ne
    5·1 answer
  • Which of the following is a characteristic of a certificate of deposit?
    15·1 answer
  • Amelie received an email that claimed to be from a Nigerian prince who needed help setting up
    12·1 answer
  • Write a reflection about your learning in this unit. Your reflection should be at
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!