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Westkost [7]
3 years ago
10

Danny "Dimes" Donahue is a neighborhood’s 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he

bakes himself. At a price of $1.75 each, he sells 250. At a price of $1.25 each, he sells 300. Instructions: Use the midpoint method and round your answer to 2 decimal places. Do not include a minus sign. a. What is the elasticity of demand
Business
1 answer:
Olenka [21]3 years ago
7 0

Answer:

The elasticy of demand is 0.54 so it is inelastic

Explanation:

The midpoint method use the average percentage change in both quantity and price.

The fromula is ((Q2-Q1)/((Q2+Q1)/2))/((P2-P1)/((P2+P1)/2))

Q is quantity and P is price

((300-250)/((300+250)/2))/((1.25-1.75)/((1.25+1.75)/2))=0.54

The demand is inelastic, that means that the porcentage in the increase in quantity is minor than the percentage in the reduction of the price. So total revenues decrease.

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Chaz and Dolly enter into a contract under which Chaz agrees to provide maintenance services for Dolly's Ski Resort. Duties unde
UkoKoshka [18]

Answer: d. any of the choices.

Explanation:

Chaz is not to transfer the duties to a third party if Dolly got into the agreement with Chaz for any of the following;

  • If Dolly places special trust in the ability of Chaz to perform the maintenance then that trust should not be broken by transferring the duties to a third party. Dolly went into that contract because they trusted in the abilities of Chaz.
  • If Dolly went into the contract due to the personal skills or talents of Chaz, the duties against would be non-transferable. Chaz's skills were the reason the contract was signed, if these skills are not to be used then the contract will be baseless.
  • By signing with Chaz, Dolly expects a certain level of performance. If the performance that will be made by a third contracting party is materially different from the one that Dolly would have expected from Chez, the duties will not be transferable.
5 0
3 years ago
Press conferences serve which of the following purposes for an organization?
Masteriza [31]

A press conference serves to answer question regarding the organization and any information that the organization wishes to share.

5 0
3 years ago
Why are adjusting entries necessary?
qwelly [4]

Answer:

Option A) To record revenues and expenses

Explanation:

The accounting accrual is an accounting method, it means that the company must record the revenues and expenses in the moment that the transactions occur and not when the payment is done.

By this method is always necessary to make adjustment entries to the accounting system if not it's impossible reflect all the transactions occured at this moment.

3 0
3 years ago
If interest rate on 1-year unsecured loan is 4.5%p.a. The inflation rate is 3.2% this year. What is the real interest rate?
Alexeev081 [22]

Explanation:

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8 0
3 years ago
If patricia were to paint her living room alone, it would take 4 hours. her sister naomi could do the job in 5 hours. how long w
Mila [183]

Practicia completes the job in one hour = 1/4

Naoimi completes the job in one hour = 1/5

If Parcticia and Naoimi does it together,let us suppose in x number of hours.

The equation so form is:

(1/4)*x + (1/6)*x = 1 (i.e job finished)

The Least common multiple(LCM) of 4 and 6 = 12

12*(1/4)*x + 12*(1/6)*x = 12*1

Therefore, solving the equation we get,

3x + 2x = 12

5x = 12

x = 12/5

x= 2 2/5 hours or 2.24 hours

Therefore number of hours they took to complete the work is 2 hours and 24 minutes or 2.24 hours.

4 0
3 years ago
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