The price elasticity of demand of the pen will be -0.2.
<h3>How to compute the elasticity?</h3>
The demand and supply schedule will be:
Price Qd. Qs
$10. 250. 100
$20. 200. 90
$30. 180. 80
The price elasticity of demand from $1 to $2 will be:
= Percentage change in quantity demanded/percentage change in price
Percentage change in quantity demanded will be:
= (200 - 250)/250 × 100
= -20%
Percentage change in price will be:
= (20 - 10)/10 × 100
= 100%
Therefore, the elasticity of demand will be:
= -20/100
= - 0.2
The value gotten illustrates an inelastic demand.
In order to increase the total revenue, the price can be reduced as it will lead to more sales.
Learn more about PED on:
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<u>Complete question:</u>
Choose any product or service. Create the demand and supply schedule.
Calculate just one PED.
Is the demand elastic or inelastic?
What price change would you recommend to increase TR?
What we need to know is how much is 1/3 of 25 2/5.
We will be multiplying fraction by a fraction and for this, it's good to change mixed numbers into improper fractions:
25 2/5=
and now we multiply it by 1/3:
and that's the answer: the basketball equipment weights 7 4/5 pounds.
Steps:
(n-2) * 180 = sum of interior angles
(3-2) * 180 = 180
Bottom Triangle
25 + 51 + x = 180
x = 104
Top Triangle
104 + 34 + x = 180
x = 42
Answer:
42
It equals 0.0192727261287227 mathamatics
