Round steak costs $6.95 per pound. Sara wants to buy 9.5 pounds of round steak which she estimates will cost $54. Which statemen
2 answers:
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Answer:
Kendra needs 3 coins (1 coin of 25 cent & 2 coins of 1 cent) to add 27 cents in 73 cents to make 1 dollar
Step-by-step explanation:
Given :
Kendra has 73 cents
She need 1 dollar to by a ball
∴ She requires additional money =
Standard Coins available are 50 cents , 25 cents, 10 cents, 5 cents and 1 cent.
To make 27 cents = = 1 coin of 25 cent & 2 coins of 1 cent
Answer:
Demand is inelastic at p = 9 and therefore revenue will increase with
an increase in price.
Step-by-step explanation:
Given a demand function that gives <em>q</em> in terms of <em>p</em>, the elasticity of demand is
- If E < 1, we say demand is inelastic. In this case, raising prices increases revenue.
- If E > 1, we say demand is elastic. In this case, raising prices decreases revenue.
- If E = 1, we say demand is unitary.
We have the following demand equation ; p = 9
Applying the above definition of elasticity of demand we get:
where
- p = 9
- q =
Substituting the values
Demand is inelastic at p = 9 and therefore revenue will increase with an increase in price.
