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Taya2010 [7]
2 years ago
6

If the percentage change in the quantity demanded of a good is greater than the percentage change in the price of the good, then

how is the demand for the good characterized?
Business
2 answers:
jasenka [17]2 years ago
8 0

Answer:

Price Elastic

Explanation:

We know that

The formula to compute the price elasticity of demand is shown below:

= (Percentage change in quantity demanded) ÷ (percentage change in price)

The classification as follows

1. Perfectly inelastic = If zero  

2. Inelastic = When elasticity is below than one

3. Unitary elastic = When elasticity is equal to one

4. Elastic = When elasticity is exceeded than one

5. Perfectly elastic = When elasticity is in infinity

Since the  percentage change in the quantity demanded of a good is greater than the percentage change in the price of the good which reflects that the elasticity is more than one

kykrilka [37]2 years ago
8 0

Answer:

<em>The demand is price elastic in nature because it is greater than 1.</em>

Explanation:

Price Elasticity of demand refers to the response of quantity demanded of a good to the change in price. Of course, when the price decreases, quantity demanded of a good increases and vice-versa but to how much degree is determined by the Price Elasticity of demand.

Mathematically, Price Elasticity of Demand is the ratio of % change in quantity demanded of a good and % change in the price of a good i.e.

<em>Price Elasticity of Demand = % change in quantity demanded of a good / % change in the price of a good</em>

In the problem, since <em>the percentage change in the quantity demanded of a good is greater than the percentage change in the price of the good, the above ratio will be greater than 1. Hence, the demand of the good is price elastic.   </em>

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When the supply curve shifts out (to the right) and the demand curve shifts out (to the right), the equilibrium quantity will:
allsm [11]

When the supply curve shifts to the right with the demand curve the equilibrium quantity increases.

<h3>What is the supply curve</h3>

This is the curve that is used to show the relative quantity that is produced by the producers for the market at a given price.

The demand curve on the other hand is a curve that is usdd to show the quantity demanded of goods by consumers at a given price.

Read more on the supply and demand curve here:

brainly.com/question/516635

5 0
2 years ago
Stanford Rosenberg Computing wants to establish an assembly line for producing a new product, the Personal Digital Assistant (PD
3241004551 [841]

Answer:

Explanation:

a. cycle time = Total time available/ production rate required

cycle time = (60*60)/180 = 3600/180 = 20sec per unit

b. theoretical minimum for the number of work-stations that Rosenberg can achieve in this assembly line.

Total task time = 12+15+8+5+20 = 60

theoretical minimum for the number of work-stations = Total task time/cycle time

theoretical minimum for the number of work-stations = 60/20 = 3stations

c. idle time

standard hour for the job is calculated as

standard hours allowed for actual production = unit produced * labor time required

The question does not contain the required information to solve it. Information such standard hours is not given.

8 0
3 years ago
What is social objective mean?
7nadin3 [17]

Answer:

Is a goal that produces an improvement in people wellbeing

Explanation:

A social objective is a statement that details a specific desired outcome of a project that is related to the interaction of the individuals, groups, and institutions within a society. Often our social objective is related to improving human wellbeing

3 0
3 years ago
Potter &amp; Lopez Inc. just sold a bond with 50 warrants attached. The bonds have a 20-year maturity and an annual coupon of 12
AfilCa [17]

Answer:

$3.76

Explanation:

Calculation of the implied value of each warrant

First step is to find the straight-debt value

Straight-debt value:

N = 20

I/YR = 15

PMT = −120

FV = −1000

PV = $812.22

Using this formula

Total value = Straight-debt value + Warrant value

Where,

Total value =$1,000

Straight-debt value=$812.22

Warrant=50

Let plug in the formula

$1,000 = $812.22 + 50

Second step is to find the warrant value

Warrant value= ($1,000 −$812.22)/50

=$187.78/50

=$3.7556

Approximately $3.76

Therefore the implied value of each warrant will be $3.76

4 0
2 years ago
At the end of the day, the cash register tape shows $1,300 in cash sales, but the count of cash in the register is $1,385. The p
kherson [118]

Answer:

C. Debit Cash $1, 385: credit sales $1, 300: credit Cash Over and Short $85.

Explanation:

Based on the information given The proper entry to account for this excess is:

Debit Cash $1,385

Credit Sales $1,300

Credit Cash Over and Short $85

($1,385-$1,300)

5 0
2 years ago
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