3 years ago

Is it ok to ask for an apology while writing an acknowledgement

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1 answer:

Alja [10]3 years ago

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No, it is too personal and can affect the reader’s perception on the writer

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Mustafa Kemal Atatürk nerde istifa etmiştir

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Use the midpoint method to calculate the price elasticity of demand for potato chips that increased in price from $2.00 to $3.00

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$e_p$ ≅ -1.7.

Explanation:

Let's calculate the change in quantity:

$\frac{Q_2 - Q_1}{\frac{Q_2+Q_1}{2} } = \frac{50-100}{\frac{50+100}{2} } = (approx.) -0.67.$

Let's now calculate the change in price:

$\frac{P_2 - QP_1}{\frac{P_2+P_1}{2} } = \frac{3.00-2.00}{\frac{3.00+2.00}{2} } = 0.40.$

Finally, let's calculate the price elasticity of demand:

$e_p = \frac{-0.67}{0.40} = (approx) -1.7.$

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