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IRISSAK [1]
3 years ago
7

A movie theater finds that when it prices tickets at ​$9​, the theater sells 250 per day. When the price is reduced to ​$8​, the

theater sells 300 per day. Based on this​ information, use the​ average-values formula to find the price elasticity of demand for tickets. Provide the absolute value of the price elasticity of demand.
Business
1 answer:
elena55 [62]3 years ago
8 0

Answer:

The price elasticity of demand is -1.81.

Explanation:

At price level $9 the quantity demanded is 250.

At the price level $8, the quantity demanded is 300.

The price elasticity of demand will be  

= \frac{Change\ in\ quantity\ demanded}{Change\ in\ price}

= \frac{\frac{Q2-Q1}{Q1} }{\frac{P2-P1}{P1} }

= \frac{\frac{300-250}{250} }{\frac{8-9}{9} }

= \frac{\frac{50}{250} }{\frac{-1}{9} }

= \frac{0.2}{-0.11}

= -1.81

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3 0
3 years ago
The Goodyear Tire & Rubber Company's December 31, 2016, financial statements reported the following (in millions). Cash Dece
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Answer:

A. $1,476 million.

Explanation:

Cash at beginning of the year + cash from operating activities + Cash from investing activities + cash from financing activities

Cash at beginning of the year + $1,504 -$973 -$875 = $1132

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6 0
3 years ago
Bonita is considering changing jobs and plans to roll over the vested portion of her qualified retirement plan into either an IR
jasenka [17]

Answer:

a) II only

Explanation:

Bonita is planning to join the new company because there is an availability of getting a loan from the company. Unlike her previous employer, the new employer has different packages for employees such as retirement plans as well as the available of loans for employee. Therefore, it can be concluded that the correct option is a.

6 0
3 years ago
During December, Rainey Equipment made a $658,000 credit sale. The state sales tax rate is 6% and the local sales tax rate is 1.
crimeas [40]

Answer:

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Explanation:

3 0
3 years ago
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In the world demand for US, exports <u>increase</u> the demand for US dollars. a in the US interest rate differential <u>decreases</u> the demand for US dollars

An interest rate tells you how excessive the cost of borrowing is, or excessive the rewards are for saving. So, if you're a borrower, the interest charge is the quantity you're charged for borrowing cash, proven as a percentage of the total amount of the mortgage.

Traditionally, the guideline of thumb is that refinancing is a superb idea if you can reduce your interest rate by way of a minimum of 2%. but, many creditors say 1% financial savings is sufficient of an incentive to refinance.

As interest rates circulate up, the value of borrowing becomes more costly. because of this call, lower-yield bonds will drop, causing their price to drop. As interest prices fall, it will become less complicated to borrow money, and plenty of corporations will issue new bonds to finance growth.

Learn more about interest rates here brainly.com/question/2151013

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