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
Svetllana [295]
3 years ago
10

Suppose the price of a bag of jelly beans rises from $1.60 to $2.00, with the result that sales of jelly beans falls from 120 ba

gs to 80 bags a day. Using the midpoint method, what is the elasticity of demand for jelly beans?
Business
1 answer:
andrey2020 [161]3 years ago
5 0

Answer:

The elasticity of demand for jelly beans is 1.80

Explanation:

The elasticity of demand is the principle of economic which is defined as the measure that extent the consumer response to the changes in the quantity demanded as a consequence of price change and being others factors are equal.

Computing the elasticity of demand for jelly beans as:

Elasticity of demand = Price Change / Quantity Change

where

Price Change is as:

Price = $1.60 + $2.00

= $3.60

Quantity change is as:

Quantity = 120 + 80

= 200

So,

Elasticity of demand = $3.60 / 200 × 100

Elasticity of demand = 1.80

You might be interested in
A pegged exchange rate means the value of the currency is fixed relative to a reference currency
ruslelena [56]
Are you asking if it’s true or false?
5 0
3 years ago
Which products are considered "covered products" by the Treasury Department and are subject to anti-money regulations?
AURORKA [14]

Answer:

B) C and D

  • C. Whole life insurance
  • D. Annuities

Explanation:

Anti-Money Laundering (AML) regulations identified the following insurance products as covered products:

  • Permanent life insurance policy, other than a group and term life insurance policy
  • An annuity contract, other than a group annuity contract
  • Any other insurance product with features of cash value or investment.

The AML's main goal is detect and stop terrorist financing.

5 0
3 years ago
How is the dual credit program different from the AP program?
olga55 [171]

AP courses are part of the College Board organization that requires students to take a rigorous test at the end of the course to potentially earn college credit. A dual credit course on the other hand is an official course at Loyola University Chicago.

3 0
3 years ago
Read 2 more answers
When trying to assess your economic well-being you should:
Alex_Xolod [135]

Answer:

The correct answer is A

Explanation:

Economic well being is described or states as having the future as well as the present financial security. It involves the ability to make the choices of the economic and have a sense of satisfaction, security and the personal fulfillment with the one's employment pursuit and the personal finances.

So, in order to assess or evaluate the economic well being, one should compare the situation of his or her economic well being with that of most of the people who are alive today.

5 0
3 years ago
One of the principles of hierarchy is a clear ______ chain of command.
Genrish500 [490]

Answer: One of the principles of hierarchy is a clear <u>vertical </u>chain of command.

Hope this helps!

4 0
2 years ago
Other questions:
  • _____ provides background information about a job's positive and negative qualities.
    9·1 answer
  • Mcmurtry Corporation sells a product for $280 per unit. The product's current sales are 13,900 units and its break-even sales ar
    12·1 answer
  • Plan production for a four-month period: February through May. For February and March, you should produce to exact demand foreca
    9·1 answer
  • Sue’s Jewelry sold 30 necklaces for $25 each to a credit customer. The invoice included a 6% sales tax and payment terms of 2/10
    13·1 answer
  • Green Company purchases a truck for $30,000 on the first day of the year. Green Company uses straight-line depreciation and esti
    6·1 answer
  • Ben and John formed BCD Inc., a corporation, in 2013. Ben received 80% of the voting common stock, the only class of stock and J
    10·1 answer
  • Assume the world market for oil is competitive and that the marginal cost of producing another barrel of oil is $79.40 and the m
    6·1 answer
  • What is the best online marketing service provider around the world?
    6·1 answer
  • Bugle's Bagel Bakery is investigating the purchase of a new bagel making machine. This machine would provide an annual operating
    15·1 answer
  • What are the benefits and advantages of members when joining organizations like UNWTO, PATA, or ASIANTA?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!