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3 years ago

If Ed=2 and price decreases by 1%, by what percentage and in what direction will quantity demanded change?

Business

1 answer:

Arte-miy333 [17]3 years ago

3 0

Given:

Elasticity of Demand = 2

Decrease in price = 1%

To find:

Change in quantity demanded

Solution:

The percentage change in quantity demanded is the mathematical product of the percentage change in price and elasticity of demand. This can be mathematically represented as,

$\% \text{ change in quantity demanded }=\% \text{ change in price }\times\text{Elasticity of demand }\\\\ \Rightarrow \% \text{ change in quantity demanded }=1\times2\rightarrow 2\%$

Since, there is a decrease in price, the demand for the product will increase. Therefore, we can conclude that there will be 2% increase in quantity demanded

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At the beginning of 2019, a corporation had assets of $270,000 and liabilities of $160,000. During 2019, assets increase $25,000

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Answer:

Shareholders Equity = $130000

Explanation:

given data

asset beginning = $270,000

liabilities beginning = $160,000

assets increase = $25,000

liabilities increase = $5,000

solution

Shareholders Equity on Dec 31 , 2014 is $111000

first we get here total Assets that is express as

total Assets = Assets at the beginning + assets increase ...............1

total Assets = $270000 + $25,000

total Assets = $295000

now we get total Liabilities that is

total Liabilities = Liabilities at beginning + liabilities increase ...........2

total Liabilities = $160,000 + $5,000

total Liabilities = $165000

so here Shareholders Equity will be as

Shareholders Equity = total Assets - total Liabilities ..............3

Shareholders Equity = $295000 - $165000

Shareholders Equity = $130000

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3 years ago

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Answer:

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Explanation:

Aligned goals is what organizations do in order to gather all the forces towards the achievement of common objectives.

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2 years ago

1 - At the Montell Company, functions are divided into areas of specialization such as production, marketing, accounting, and fi

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2 years ago

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Answer:

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The correct answer is C

Explanation:

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Answer:

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2 years ago