It should be noted that a good that has a high demand elasticity for an economic variable implies that consumer demand for that good is more responsive to changes in the variable.
<h3>How to explain the demand?</h3>
It should be noted that an elastic demand is one werr the change in quantity demanded due to a change in price is large.
Also, an inelastic demand is one in which the change in quantity demanded due to a change in price is small. When the formula creates an absolute value greater than 1, the demand is elastic.
Here, a good that has a high demand elasticity for an economic variable implies that consumer demand for that good is more responsive to changes in the variable.
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Answer: $ 532
Step-by-step explanation:
Given: Ramona works in a clothing store where she earns a base salary of $140 per day plus 14% of her daily sales.
She sold $600 in clothing on Saturday and $1200 in clothing on Sunday.
To find : Earning in two days.
Total sales she did in 2 days = $600+$1200 = $1800
Then, her total earning for 2 days = 2 x( Base salary)+ 14% of (Total sales)
= 2 x ($140) + (0.14) ($1800)
= $(280+252)
= $ 532
Hence, she earned $ 532 over the 2 days.
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Step-by-step explanation:
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