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?
Answer:
$621.08
Step-by-step explanation:
The formula for the amount (A) resulting from principal P being invested at rate r continuously compounded for period t is ...
A = Pe^(rt)
Filling in the given numbers and doing the arithmetic, we get ...
A = $400e^(0.055·8) ≈ $621.08
Answer:
Algebra Examples
Popular Problems Algebra Find the Axis of Symmetry f(x)=x^2-5 f(x)=x2−5 Set the polynomial equal to y to find the properties of the parabola. y=x2−5
Rewrite the equation in vertex form.
y=(x+0)2−5 Use the vertex form, y=a(x−h)2+k, to determine the values of a, h, and k.a=1h=0k=−5
Since the value of a is positive, the parabola opens up.
Opens Up
Find the vertex
(h,k).(0,−5)
Find p, the distance from the vertex to the focus.
14 Find the focus.
(0,−194)
Find the axis of symmetry by finding the line that passes through the vertex and the focus.
x=0
Answer:
1 is 3 and 2 is y 2/1x
Step-by-step explanation:
if you do not understand 2 then here is a explanation you find slope so take any two point then go over then up the amount over is on the bottom and the amount up on top then simplify if needed
