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
d1i1m1o1n [39]
2 years ago
8

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

Calculate the absolute value of the price elasticity of​ demand? Use the midpoint formula.
Business
1 answer:
Anna35 [415]2 years ago
7 0

Answer:

0.6

Explanation:

Initial Units sold, Q1 = 40 pairs

Initial Price, P1 = $40

Final price, P2 = $20

Final units sold = 60 pairs

Now,

Using the midpoint formula,

the absolute value of the price elasticity of​ demand

price elasticity of​ demand = \frac{\frac{Change in quantity sold}{\frac{Total quantity sold}{2}}}{\frac{Change in price}{\frac{Total price}{2}}}

or

price elasticity of​ demand = \frac{\frac{Q2-Q1}{\frac{Q1+Q2}{2}}}{\frac{P1-P2}{\frac{P2+P1}{2}}}

or

price elasticity of​ demand = \frac{\frac{60-40}{\frac{40+60}{2}}}{\frac{40-20}{\frac{40+20}{2}}}

or

price elasticity of​ demand = \frac{\frac{20}{50}}{\frac{20}{30}}

price elasticity of​ demand =  0.6

You might be interested in
Different customer statement types are available to suit different client situations. Heather wants to help her client send out
motikmotik

Answer: b. Open Item

Explanation:

The statement that Heather wants to help a client send out is to include unpaid invoices, unapplied payments, and Credit Memos which are essentially signs that the creditor has not been paid.

An open item statement would therefore work best because it is to include open accounts that are yet to be paid so will include all those entries described above.

8 0
2 years ago
Rank the steps of the (sandwich) ELISA procedure from first step to last step. Do not overlap any steps.
Anvisha [2.4K]

Answer and Explanation:

The ELISA refers to the enzyme-linked immunosorbent assay (ELISA) It is used to determine the existence of an antigen in a sample with the help of antibiotics

The ELISA procedure in sequence form is shown below:

1. The capture antibody is added and then clean it

2. Now adding the blocking buffer and then clean it

3. Now add the samples with controls, Hatch it and clean it

4. Add horseradish peroxidase (HRP) conjugated with the antibody, Hatch it and clean it

5. Add Thymidine monophosphate (TMP)

6. And finally, the last step is to record the results

8 0
3 years ago
Diane, a police officer, stops Tim's car for a traffic offense. While talking to Tim, she shines a flashlight into the passenger
kati45 [8]

Answer:

Diane may search the passenger compartment of the car and any place else in the car, including the trunk, without Tim's consent. ⇒ TRUE

Explanation:

The Fourth Amendment of the Constitution protects people against illegal searches, seizures and warrants, but there are exceptions to this amendment:

  1. consensual searches: if the person is OK with the police officer searching his/her belongings
  2. brief investigatory stops: when the police officer is suspicious about a crime being committed
  3. searches incident to a valid arrest: if the police officer is arresting someone, he/she is allowed to search him
  4. seizures of items in plain view: if property is in plain view, the police officer does not need a warrant. ⇒ this exception applies to this case.
4 0
3 years ago
Net cash flow from a transaction equals the difference between cash received and cash disbursed in the transaction.
Ipatiy [6.2K]

Answer:

True

Explanation:

Imagine you're selling lemonade. It costs you $2 for a lemon, and you can make 5 glasses from it.

You sell each glass for $1.

At the end of the day, your profit per lemon = the total value of lemonade sold - the total cost of lemons. If you only sell 1 lemon worth of lemonade, it will be $5-$2 = $3 profit.

Net cash flow means the same as "profit".

6 0
3 years ago
If Mikael decides to go out with his friends instead of study for his biology test, what is the opportunity cost?
denis-greek [22]

Answer:

Studying his biology test

Explanation:

opportunity cost refers to the cost of the forgone alternative inorder to enjoy another service

7 0
3 years ago
Other questions:
  • A bag contains 10 marbles: 6 are green, 2 are red, and 2 are blue. Frank chooses a marble at random, and without putting it back
    14·2 answers
  • Why does the federal reserve system have a high degree of political independence? it is divided into geographical districts. the
    7·1 answer
  • The salesperson says, "For the money, you will find no better water reclamation system anywhere!" The customer thinks the salesp
    13·1 answer
  • Mark owns a 24-hour convenience store. Lately he has noticed that the liquor inventory purchases have gone up by huge amounts, a
    12·1 answer
  • How does savingd intrest work?​
    8·1 answer
  • Effective project teams have a results orientation; each person has a strong commitment to accomplishing the project objective .
    14·1 answer
  • Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weig
    5·1 answer
  • As explained in the Help section for the Workforce Compensation, Training, and Product Assembly decision screen, if (1) a compan
    10·1 answer
  • How does analytical skills help to solve problems​
    14·1 answer
  • A $150 debit to office equipment was entered in the account as a $150 credit. this error caused the trial balance to be out of b
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!