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Tju [1.3M]
3 years ago
7

Suppose the market for orange juice is in equilibrium at a price of $2.00 per bottle and a quantity of 4200 bottles per month. N

ow suppose that at a price of $3.00 per bottle, quantity demanded falls to 3000 bottles per month and quantity supplied increases to 4500 bottles per month
Business
1 answer:
Ainat [17]3 years ago
5 0

Answer:

Price elasticity of demand = 1.2

Explanation:

Given:

Old price (P0) = $2

New Price (P1) = $3

Old quantity (Q0) = 4,200

New quantity (Q1) = 3,000

Price elasticity of demand = ?

Computation of Price elasticity of demand :

Price elasticity of demand = % change in quantity / % change in price

Price elasticity of demand = [(4,200-3,000)/3,000] / [(3-2)/3]

Price elasticity of demand = 1.2

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The programs completes similar functions as those completed by Microsoft® Publisher.

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Martin, a u.s. citizen, travels to mexico and buys a newly manufactured motorcycle made there. his purchase is included in?
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Martin, a US. citizen travels to Mexico and buys a newly manufactured motorcycle made there. his purchase is included in both Mexican GDP and U.S. GDP.

This is further explained below.

<h3>What is GDP?</h3>

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2 years ago
What are the origins of the reactants and the destination of the products?
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3 years ago
What will you need to change to make the message appropriate for both a subordinate and other subordinates? Make the message eve
bezimeni [28]

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3 years ago
Jones Company sells an average of 200 chairs per week, of which 30% are regular chairs and 70% are executive chairs. Regular cha
MissTica

Answer:

Contribution margin per unit: $42.9

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