Answer: The price elasticity of demand for good A is 0.67, and an increase in price will result in a increase in total revenue for good A
Explanation:
The following can be deduced form the question:
P1 = $50
P2 = $70
Q1 = 500 units
Q2 = 400 units
Percentage change in quantity = [Q2 - Q1 / (Q2 + Q1) ÷ 2 ] × 100
Percentage change in price = [P2 - P1 / (P2 + P1) ÷ 2 ] × 100
% change in quantity = (400 - 500)/(400 + 500)/2 × 100
= -100/450 × 100
= -22.22%
% change on price = (70 - 50)/(70 + 50)/2 × 100
= 20/60 × 100
= 33
Price elasticity of demand = % change in quantity / % change on price
= -22.22 / 33
= -0.67
This means that a 1% change in price will lead to a 0.67% change in quantity demanded. As there was a price change, there'll be a little change in quantity demanded because demand is inelastic. Thereby, he increase in price will lead to an increase in the total revenue.
Therefore, the price elasticity of demand for good A is 0.67, and an increase in price will result in an increase in total revenue for good A
Answer:
he answer is : He likely did not cite his research, and committed plagiarism. Todd's manager has asked him to write a report on ways to increase safety in the warehouse. Todd used the Internet to research statistics and recommendations for improving safety in the workplace. He feels like he pulled together a really strong document and that his manager will be pleased. However, when he is called into his manager's office, his manager is concerned and tells him that he has been unethical in his work. He likely did not cite his research, and committed plagiarism. It is the practice of taking someone else's work or ideas and passing them off as one's own.
Explanation:
Answer:
internal and external data
Explanation:
Big Data analysis can be regarded as one that contains massive amounts of data as well as complex analysis.
Internal data can be regarded as information that is been generated from within the business these could contains some areas like operations as well as maintenanc and personnel.
External data on other hands are attributed to the market, as well as from customers and from the firms competitors, it could be gotten from survey. All for increasing profitability.
Answer:
The correct answer is $132,664.89.
Explanation:
According to the scenario, the given data are as follows:
Present value (PV) = $50,000
Rate of interest (r) = 5%
Time period (n) = 20 Years
So, we can calculate future value by using following formula:
Future value = PV × (1 + r)^(n)
= $50000 × ( 1 + 5% )^20
= $50000 × (1 + 0.05)^20
= $132,664.89
Hence, After 20 years land will be worth $132,664.89.
Answer:
Trade Bloc
Explanation:
Trade Bloc is a type of agreement between two sovereign nations in which barriers to trade are either reduced or totally eliminated between the two nations. This type of agreement can either be one agreement between several nations or a part of a regional organization.
So, the example of Iceland and Norway is an example of a trade bloc.
