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
fiasKO [112]
2 years ago
11

At a price of $4 per unit, Gadgets Inc. is willing to supply 20,000 gadgets, while United Gadgets is willing to supply 10,000 ga

dgets. If the price were to rise to $8 per unit, their respective quantities supplied would rise to 45,000 and 25,000. If these are the only two firms supplying gadgets,
what is the elasticity of supply in the market for gadgets?
a.)1.2
b.).80
c.).833
d.)1.0
Business
1 answer:
Montano1993 [528]2 years ago
6 0

Answer:

Option (a) is correct.

Explanation:

Average of quantity supplied:

= (70,000 + 30,000) ÷ 2

= 50,000

Percentage change in quantity supplied:

= (70,000 - 30,000) ÷ 50,000

= 0.8

Average of price change:

= (8 + 4) ÷ 2

= 6

Percentage change in price:

= (8 - 4) ÷ 6

= 0.667

Therefore,

Elasticity of supply in the market for gadgets:

= Percentage change in quantity supplied ÷ Percentage change in price

= 0.8 ÷ 0.667

= 1.2

You might be interested in
Xyz company is a low-cost provider. xyz is most susceptible to
Alex777 [14]
Xyz company is a low-cost provider. Xyz is most susceptible to ANY NEW INNOVATIONS OR INVENTIONS FROM A COMPETITOR COMPANIES.
Low cost strategy is one of the three generic marketing strategies. It is a pricing strategy in which a service provider or a company reduces the cost to increase profit and demand.
5 0
3 years ago
if you wanted to take the survey to be included in the next revision of the strong interest inventory, which requirements would
Olin [163]

The strong interest inventory is vital in helping individuals identify their work personalities and it's available at<u> skillsone.</u>

The strong interest inventory refers to a career self-assessment tool. The <em>strong interest inventory</em> is used by <em>career development specialists</em> in measuring the interests of their clients and to help them to choose a career.

The <em>strong interest inventory test </em>helps people match their interests with potential career, educational, and leisure activities by using their preferences in different areas.

Read related link on:

brainly.com/question/11673177

5 0
2 years ago
You found your dream house. It will cost you $300000 and you will put down $30000 as a down payment. For the rest you get a 30-y
Andrews [41]

Answer:

$1,282.80

Explanation:

The PMT formula is used for this question. The attachment is shown below:

The NPER shows the time period

Given that,  

Present value = $300,000 - $30000 = $270,000

Future value = $0

Rate of interest = 4% ÷ 12 months = 0.33%

NPER = 30 years × 12 months = 360 months

The formula is shown below:

= PMT(Rate;NPER;-PV;FV;type)

The present value come in negative

So, after solving this, the answer is $1,282.80

5 0
3 years ago
hich of the following is NOT one of the six questions that comprise the task of evaluating a company's resources and competitive
Vadim26 [7]

Answer:

The correct answer is "What are the company's most profitable geographic market segments?"

Explanation:

In order to research on the companys' resource and competitive position, a researcher does not need to ask questions related to the geographic market segments.

Geographic market segments refer to the geographical spread of the market of a company.

I hope the answer is helpful.

Thanks for asking.

4 0
3 years ago
Shoe Box Stores is currently an all-equity firm with 25,000 shares of stock outstanding. Management is considering changing the
denpristay [2]

Answer:

d. Sell 210 shares and loan out the proceeds at 8 percent

Explanation:

Since the firm is using 35 percent leverage, Jamie can offset the firm's leverage by selling shares and loaning out 35 percent of her investment at 8 percent interest.

Number of shares to be sold = 600 shares * 0.35 = 210 shares

7 0
3 years ago
Other questions:
  • If 115 people each produce 356 pens in a day, what is the total production number for that day? A. 40,940 B. 39,490 C. 40,490 D.
    10·1 answer
  • What are the characteristics of a mixed economy?
    8·1 answer
  • Brazen Inc. sells bonds with a face value of $1,000,000 and a contractual interest rate of 10% for $1,200,000. The bonds will ma
    6·1 answer
  • A market in which firms can enter and leave so easily that firms in the market face competition from potential entrants is a​ __
    13·1 answer
  • Sunshine Smoothies Company (SSC) manufactures and distributes smoothies. SSC is considering the development of a new line of hig
    9·1 answer
  • A flow chart as part of a six-sigma quality improvement process might be found in which DMAIC category? A. DefineB. MeasureC. An
    10·1 answer
  • Preparing a Direct Labor Budget Patrick Inc. makes industrial solvents. Planned production in units for the first 3 months of th
    10·1 answer
  • Which of the following will cause an increase in ROI? An increase in controllable fixed costs. An increase in average operating
    5·1 answer
  • Name seven hazards that are found in the welding shop
    11·1 answer
  • Share Issuances for Cash Finlay. Inc., issued 8.000 shares of $50 par value preferred stock :u $68 per ~hare and 12.000 shares o
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!