The price elasticity of demand of the pen will be -0.2.
<h3>How to compute the elasticity?</h3>
The demand and supply schedule will be:
Price Qd. Qs
$10. 250. 100
$20. 200. 90
$30. 180. 80
The price elasticity of demand from $1 to $2 will be:
= Percentage change in quantity demanded/percentage change in price
Percentage change in quantity demanded will be:
= (200 - 250)/250 × 100
= -20%
Percentage change in price will be:
= (20 - 10)/10 × 100
= 100%
Therefore, the elasticity of demand will be:
= -20/100
= - 0.2
The value gotten illustrates an inelastic demand.
In order to increase the total revenue, the price can be reduced as it will lead to more sales.
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<u>Complete question:</u>
Choose any product or service. Create the demand and supply schedule.
Calculate just one PED.
Is the demand elastic or inelastic?
What price change would you recommend to increase TR?
Answer:
30
Step-by-step explanation:
30% in a calculator is .3
if you multiply 100 by .3 you get 30
also multiplying a number by a percentage is just taking a percentage of that number. so 30% of 100 is 30.
Answer:
3
16+ x = 19
x= 3
Step-by-step explanation:
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The number is (20 x 19 x 18 x 17) / (4 x 3 x 2). That's 4,845 . None of the choices is correct.
Standard form is where the degree of each monomial decreases from left to right. Degree can be found by adding the exponents on each variable.
The only one where this is true is the first one.
The degree goes from 7 to 4 to 2
