1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sukhopar [10]
3 years ago
8

Becky only eats out at Macaroni Grill and eats out three times per month. She receives a raise from $33,200 to $33,500 and decid

es to eat out five times per month. Use the midpoint method to calculate the monthly income elasticity of demand for eating out. Round your answer to two decimal places.
Business
1 answer:
iragen [17]3 years ago
3 0

Answer:

55.58

Explanation:

Data provided in the question;

Initial demand per month, Q₁ = 3

Final demand per month, Q₂ = 5

Initial price, P₁ = $33,200

Final price, P₂ = $33,500

Now,

elasticity of demand using midpoint method is calculated as :

= \frac{\textup{percent change in demand}}{\textup{percent change in supply}}

or

= \frac{\frac{Q_2-Q_1}{\frac{Q_1+Q_2}{2}}}{\frac{P_2-P_1}{\frac{P_1+P_2}{2}}}

on substituting the respective values, we get

= \frac{\frac{5-3}{\frac{5+3}{2}}}{\frac{33,500-33,200}{\frac{33,200+33,500}{2}}}

or

= \frac{\frac{2}{4}}{\frac{300}{\frac{66,700}{2}}}

or

= \frac{0.5}{\frac{300}{33,350}}

= 55.58

You might be interested in
Studdard Controls recently declared a quarterly dividend of $1.25 payable on Thursday, April 25, to holder of record of Friday,
elena-14-01-66 [18.8K]

Answer:

April 11th

Explanation:

the dividends will be paid to the owner of the share one day before the record.  This is defined asthe Ex-date ofthe dividends.

DISCLAMER

Assuming it refers to 2019 Apil 12th

the previous business day will be April 11th (we should liook into the calendar and avoid counting Friday and saturdays

for the year 2019 April 12th is a friday so it is okay to define it as April 11th

7 0
3 years ago
If the number of unemployed workers is 19 million, the number in the working-age population is 2) 500 million, and the unemploym
Sunny_sXe [5.5K]

Answer:

D) 475 million

Explanation:

Unemployment is the people who is not currently working and searching for the job. These are the part of Labor force. So unemployment rate is as follows:

Unemployed Worker = 19 million

Unemployment rate = 4%

Unemployment rate = Unemployed worker / Labor force

4% = 19 million / Labor Force

Labor Force = 19 million / 4%

Labor Force = 475 million

6 0
3 years ago
Fern Co. has net income, before taxes, of $200,000, including $20,000 interest revenue from municipal bonds and $10,000 paid for
exis [7]

Answer:

Effective tax rate =28.50 %

Explanation:

given data

Net Income before taxes = $2,00,000  

Interest revenue = $20,000  

Life insurance Premium = $10,000

tax rate = 30%

to find out

Fern's effective tax rate

solution

first we get here Taxable Income that is express as

Taxable Income = Net Income before taxes + Life insurance Premium - Interest revenue   ........................1

put here value we get

Taxable Income = $2,00,000 + $10,000 - $20,000

Taxable Income = $190000

so

Income tax Liability will be

Income tax Liability = Taxable Income × Tax rate  .....................2

Income tax Liability = $190000  × 30%

so Effective tax rate will be

Effective tax rate = \frac{Income\ tax\ Liability}{Net\ Income}

Effective tax rate = \frac{57000}{200000}

Effective tax rate =28.50 %

3 0
3 years ago
A/An _____ is a hybrid investment that is traded in securities markets like a stock but actually represents ownership in a marke
katrin2010 [14]
the correct answer would be : Exchange Traded Fund
The Exchange traded fund is a marketable security that trades commodity, bonds, or a basket of assets, which also trade the ownership of those securities (like the usual stock market but for bonds, commodity, or assets)
8 0
3 years ago
Please help. I will mark you as brainliest !!!
Liono4ka [1.6K]
The value of cars produced by a Japanese company are part of United States Gross Domestic Product (GDP) as long as the cars are produced in a factory located within U.S. territory.
The reason why is that GDP includes the final value of all goods and services produed within a country, during a specific period of time (usually a year). If the cars are produce in U.S. territory, they are counted as part of U.S. GDP, even if the company is from Japan or any other country.
3 0
3 years ago
Other questions:
  • You need to have $32,000 in 14 years. You can earn an annual interest rate of 3 percent for the first 4 years, 3.6 percent for t
    8·1 answer
  • Companies raise capital in two main ways ___________.
    15·1 answer
  • Were taxes are recorded on the income and expense statement ​
    12·1 answer
  • Cyberhost Corporation's sales were $225 million last year. If sales grow at 6% per year, how large (in millions) will they be 5
    9·1 answer
  • A firm will not shut down in the longminus?run as long as the firms? revenue:
    10·1 answer
  • Trent runs a small business in which he manufactures hinges to be used in kitchen and storage cabinetry. He stores the hinges in
    8·1 answer
  • XYZ Co. uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. It based its
    13·1 answer
  • What type of decision making will a person use in purchasing a<br> microwave?
    13·1 answer
  • When rival firms compete aggressively by trying to attract competitors' customers, this might be an indication of: a. increasing
    7·1 answer
  • Sunland Inc. took a physical inventory at the end of the year and determined that $789000 of goods were on hand. In addition, Su
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!