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Svetllana [295]
3 years ago
12

Suppose that at a price of $8, 13,600 units were sold while at a price of $6, 15,200 units were sold. Without calculating the va

lue of price elasticity of demand , can you determine whether demand is elastic, unit elastic, or inelastic between the price of $6 and the price of $8?
Business
2 answers:
HACTEHA [7]3 years ago
5 0

Answer:

Inelastic between the price of $6 and the price of $8

Explanation:

At price $8, the total expenditure ;

= price * Quantity

=$8 * 13600

=$108,800

At price $6, the total expenditure;

=$6 * 15200

=$91,200

Since the total expenditure is decreasing with a decrease in price then the elasticity of demand will be inelastic.

Doss [256]3 years ago
5 0

Answer:

Inelastic

Explanation:

The elasticity of demand is the response of consumers to a change in the price of a product (Barnier, 2020). It is calculated as the percentage change in the quantity demanded divided by the percentage change in price.  

Looking at the number of units sold at each price ($6 and $8), we can determine that the demand is inelastic. The percentage change in demand is smaller than the percentage change in price.  This means that the demand curve will be steep.

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lys-0071 [83]

Answer:

(C) offering new evidence implying that the status quo is not incompatible with the owner’s goal

Explanation:

Considering that the main goal of the owner is to maximize his revenue, the store manager provides evidence that shows that the teenagers spend the same amount that the average adult and that the store is getting more new customers that the ones that have lost which indicates that the situation they are having is making the store to go in the direction of achieving his goal.

6 0
3 years ago
A variable cost a. is synonymous with labor costs b. changes in the same direction and in direct proportion to changes in operat
pishuonlain [190]

Answer:

b. changes in the same direction and in direct proportion to changes in operation activity.

Explanation:

Variable costs are expenses that vary with changes in production level. A variable cost is attached to the production of a particular product or service. An example of variable cost is the raw material expense. As the production level rises, more raw materials will be needed for production.    

The relationship between variable costs and output level is direct and proportional. An increase in output requires more materials and other consumables. As variable costs are associated with the production process, an increase or decrease in production level results in a similar or increase or decrease in variable costs.

6 0
3 years ago
If the marginal cost of production is greater than the average cost, in what direction must the average cost be changing, if any
ziro4ka [17]

Answer:

b) The average cost must be rising.

Explanation:

Assuming that the entity produce 4 units and its total cost is $16 so average cost per unit is $4 and  now the same entity has produced the 5th unit at $5 so the average cost now per unit is (16+5)/5=$4.2

So based on the above discussion, it can be concluded that average cost increase when the marginal cost of production is increased.

So the answer is b) The average cost must be rising.

6 0
3 years ago
What is the net pay?​
viva [34]

Answer:

its the last one i think

Explanation:

6 0
3 years ago
Building a foundation in the knowledge of consumer needs and interests will help you to
Ronch [10]

Answer:

Its D

Explanation:

took the test

4 0
3 years ago
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