Transactions in a traditional economy are typically done with ________

The midpoint method is used to compute elasticity because it A. automatically rounds quantities to the nearest whole unit. B. gi

gizmo_the_mogwai [7]

Answer:

B. gives the same answer regardless of the direction of change

Explanation:

The computation of the price elasticity of demand using mid point formula is shown below:

Price elasticity of demand = (Percentage change in quantity demanded) ÷ (percentage change in price)

where,

Percentage change in quantity demanded is

= (change in quantity demanded ÷ average of quantity demanded)

And,

The percentage change in price is

= (percentage change in price ÷ average of price)

Therefore, it reflects the same answer

6 0

3 years ago

Assume an annual interest rate of 8%. You have $1. What is the value of the $1 one year in the future

seropon [69]

Answer:

the future value is $1.08

Explanation:

The computation of the future value is shown below:

As we know that

Future value = Present value × (1 + rate of interest)^number of years

= $1 × (1 + 0.08)^1

= $1 × 1.08

= $1.08

Hence, the future value is $1.08

3 0

2 years ago

Gloria deposited $500 into a bank account that earned 7. 5% simple interest each year. She earned $225 in interest before closin

timama [110]

The number of years in which the money is in the account is 6 years.

<h3>What is simple interest?</h3>

Simple interest denotes the amount of payment that is received or paid by a person in return for anything pledged or given a loan.

The interest computed on the principal amount for a specified duration of time and rate of interest is called simple interest.

The formula of simple interest:

$\text{SI}= \text{P}\times r \times t$

Where, (P) stands for principal, (r) for interest rate, and (t) is for the time period.

<u>Computation </u><u>of a number of years:</u>

According to the given information,

P=$500,

r=7.5%,

t=?

SI= $225

Now, substitute the given values in the above formula, we have:

$\text{SI}= \text{P}\times r \times t\\\\\$225=\$500\times\ 7.5\%\times t\\\\t= 6 \text{Years}$

Therefore, the number of years is 6 years.

To learn more about the simple interest, refer to:

brainly.com/question/2793278

5 0

2 years ago

Hoosier Manufacturing operates a production shop that is designed to have the lowest unit production cost at an output rate of 1

soldier1979 [14.2K]

Answer:

The Capacity utilization rate is 73.94 units per hour for the month.

Explanation:

Provided data,

Output rate = 160 units per hour

In the month of July,

Total production hour = 295 hours.

Total units = 34900 units.

Ideal output units in the month of July = output rate × total production hour

= 160 × 295

= 47200 units.

Capacity utilization rate of production shop is given by,

Utilization rate = (output unit in July ÷ idea output) × 100

= (34900 ÷ 47200) × 100

= 0.7394 × 100

= 73.94 units per hour

So, the Capacity utilization rate is 73.94 units per hour for the month.

7 0

3 years ago

Fernando was thrilled to find out that his company had just decided to invest a great deal of money in the product he was managi

Anestetic [448]

Answer:

Explanation:

The Boston Consulting Group (BCG) matrix depicts a product's market share against the market growth rate. The matrix is also known for it's cow- dog metaphor.

The matrix represents 4 situations namely:

1. Stars : Products with high market share in high growth markets i.e high- high situation.

2. Cash Cows: Products with high market share in low growth markets.

3. Question Mark: Products with low market share in a high growth markets.

4. Dogs: Products with low market share in low growth markets.

In the given case, the product dominates the market i.e high market share. Secondly, it operates in a high growth market. Which means, the product belongs to the situation of a Star.

8 0

3 years ago

Transactions in a traditional economy are typically done with _________.