1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
olga_2 [115]
3 years ago
11

Using the midpoint method, calculate the price elasticity of demand of Good Z using the following information: When the price of

good Z is $10 (P1), the quantity demanded of good Z is 85 units (Q1). When the price of good Z rises to $15 (P2), the quantity demanded of good Z falls to 60 units (Q2).
(A) The price elasticity of demand for good Z = 1.90.
(B) The price elasticity of demand for good Z = 0.86.
(C) The price elasticity of demand for good Z =0.76.
(D) The price elasticity of demand for good Z = 0.52.
Mathematics
1 answer:
exis [7]3 years ago
6 0

Answer: (B) The price elasticity of demand for good Z = 0.86

Step-by-step explanation:

The formula for determining elasticity of demand by using the midpoint method is

(Q2 - Q1)/[(Q2 + Q1)/2] / (P2 - P1)/[(P2 + P1)/2]

Where

P1 is the initial price of the item.

P2 is the final price of the item.

Q1 is the initial quantity demanded for the item.

Q2 is the final quantity demanded for the item.

From the information given,

P1 = 10

P2 = 15

Q1 = 85

Q2 = 60

The price elasticity of demand for good Z = (60 - 85)/[(60 + 85)/2] / (15 - 10)/[(15 + 10)/2]

= (-25/72.5) / (5/12.5) = -25/72.5 × 12.5/5

= - 312.5/362.5 = - 0.86

You might be interested in
Kayla has 14.5% of her salary placed into an Individual Retirement Account. What fraction is this?
Monica [59]
1. Convert percent into decimal (it will help)
14.5\% = .145
2. Convert Decimal to fraction
\frac{.145}{1000}

4 0
3 years ago
What is the formula to find volume of regular objects?
Cloud [144]

Hope it helps yah (◕ᴗ◕✿)

4 0
2 years ago
Read 2 more answers
what are the advantages and disadvantages to representing a function as an equation instead of a graph?
Oduvanchick [21]
Answer: See below:

Advantages as an equation: When you have an equation instead of a graph, you can use the equation to find exact values for a function. With a graph, don't always have the exact values. However, with an equation, you can find the exact input or output values.

Disadvantages as an equation: You don't get to see the overall picture or patterns in the function. With a graph, you can easily see the increasing and decreasing intervals of the function.
4 0
3 years ago
A population of 7000 fish experiences 1,000 deaths in a year. what is the population's death rate for that year?
ICE Princess25 [194]
Rate is the number of death over time. So 1000 divide by 365 days =2.78
3 0
3 years ago
Read 2 more answers
Math help will give brainliest what is X and M angle A
Anna [14]
Supplementary = 180 degrees...

A + B = 180

3x + 12 + 7x + 38 = 180

10x + 50 = 180

10 x = 130

x = 13 

To find the A just substitute x in...

 
3 ( 13) + 12  

A = 51

To check substitute the x..

A + B = 180

3(13) + 12 + 7(13) + 38 = 180
        51 + 129 = 180
            180 = 180
3 0
3 years ago
Other questions:
  • For an outdoor concert by the city​ orchestra, concert organizers estimate that 17,000 people will attend if it is not raining.
    10·1 answer
  • Solve the system of equations by finding the reduced row-echelon form of the augmented matrix for the system of equations. 2x+y+
    5·1 answer
  • What are the coordinates of the point (1, –6) after a counter clockwise rotation of 90° about the origin?
    7·2 answers
  • Remove the parentheses and simplify 5c+5d-6(6c-6d)=
    13·1 answer
  • Find the value of h(-67) for the function below.
    8·2 answers
  • What is the factorization of the polynomial below<br>-x^2 - 15x - 56​
    6·1 answer
  • The company plans to increase the width and length of the large box by 4 inches each to create a new larger box. How many more o
    11·1 answer
  • Is the number 73 prime or composite?<br><br> pls help
    14·2 answers
  • HELP PLEASE!! MARKING BRAINLEIST
    14·1 answer
  • If 8 boys went to the washroom, there would be as many boys as girls in the room. 3 If 8 girls went to the washroom, there would
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!