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Akimi4 [234]
3 years ago
9

Suppose that a local supermarket sells apples and oranges for 50 cents apiece, and at these prices is able to sell 100 apples an

d 200 oranges per week. One week, the supermarket lowered the price per apple to 40 cents and sold 120 apples. The next week, they lowered the price per orange to 40 cents (after raising the price per apple back to 50 cents) and sold 240 oranges. These results imply that the
a. price elasticity of apples is lower than the price elasticity of oranges
b. price elasticity of apples is higher than the price elasticity of oranges
c. demand for apples is more price sensitive than the demand for oranges
d. demand for oranges is more price sensitive than the demand for apples
e. price elasticities of demand for apples and oranges are the same over these price ranges
Business
1 answer:
dezoksy [38]3 years ago
7 0

Answer:

e. price elasticities of demand for apples and oranges are the same over these price ranges

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Price elasticity = percentage change in quantity demanded / percentage change in price

Percentage change in price = (50-40) / 50 = 0.2 × 100 = 20%

Percentage change in quantity demanded of Apples = (120 - 100) / 100 = 0.2 × 100 =

20%

Percentage change in quantity demanded of oranges = (240 - 200) / 200 = 0.2 × 100 = 20%

Price elasticity of demand for oranges = 20% / 20% = 1

Price elasticity of demand for Apples = 20% / 20% = 1

When coefficient of elasticity is equal than one, elasticity of demand is unit elastic.

This implies that the elasticity of demand for Apples and oranges are the same. A change in the price of oranges and apples would lead to the same proportional change for each of the demand for Apples and oranges.

I hope my answer helps you

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Which of the following possible provisions of a bond indenture is designed to ease the burden of principal repayment by spreadin
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Answer:

d. sinking fund.

Explanation:

A bond refers to a debt or fixed investment security, in which a bondholder (creditor or investor) loans an amount of money to the bond issuer (government or corporations) for a specific period of time.

Generally, the bond issuer is expected to return the principal at maturity with an agreed upon interest to the bondholder, which is payable at fixed intervals.

A sinking fund is a provision of a bond indenture which is designed to ease the burden of principal repayment by spreading it out over several years.

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3 years ago
Joseph is an unemployed yard landscaping worker who is trying to find employment as he last had work seven months ago. He is now
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Answer:

Cyclical Unemployment

Explanation:

Cyclical Unemployment occurs due to irregularities surrounding an economy and these said cycles eventually brings about recession and thus, a good number of willing workers would not be able to get jobs due to this fact. What Joseph is experiencing is called Cyclical unemployment.

3 0
4 years ago
20 points easy …………………….
dlinn [17]

Answer:

D.....................................

7 0
2 years ago
When individuals use all available information about an economic variable to make a decision, expectations are?
monitta

when individuals use all available information about an economic variable to make a decision, expectations are   -rational

What is economic variable?

An economic variable is any measurement that helps to consider how an economy may function . for instance  population, poverty rate, inflation, and available resources.

What are the five economic variables?

There are 5 common economic variable that are considered :

output, gross domestic product ( GDP ), production, income, and expenditures.

What factors cause economic growth?

Basically , there are two main cause  of economic growth: growth in the size of the workforce and growth in the production activity (output per hour worked) of that workforce.

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1 year ago
You make $10.25 per hour. You have 7.5% of your total pay taken out of your check for your 401K retirement plan. How much will b
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The amount that will be taken off the pay check for the 401k retirements plan given all the criteria indicated above is $38.82 (Option D)

<h3>What is the computation justifying the above?</h3>

Given:

Pay Per Hour: $10.25

Bonus: $15.375‬ for every hour worked over forty hours.

Total Hour worked: 47 Hours

Percentage deductible: 7.5%

Total Pay thus =

(40 *10.25) + (7 *15.375)

= $517.625

Total 401 K deduction thus, =

7.5% * 517.625

401K Deduction total = $38.82

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Full Question:

You make $10.25 per hour. You have 71/2% of your total pay taken out of your check for your 401K retirement plan. How much will be taken out for your 401K if you work 47 hours this week? You get paid time-and-a-half for all hours over 40.

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A. $36.13

B. $69.02

C. $54.20

D. $38.82

E. $14.35

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2 years ago
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