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
Kazeer [188]
3 years ago
11

When the price of hot dogs is $1.50 each, 500 hot dogs are sold every day. After the price falls to $1.35 each, 510 hot dogs are

sold every day. At the original price, what is the price elasticity of demand for hot dogs?
Business
1 answer:
Mkey [24]3 years ago
8 0

Answer:

The correct answer is -0.2.

Explanation:

According to the scenario, the given data are as follows:

When rate = $1.50

Hot dogs sold at $1.50 = 500 units

And When rate = $1.35

Hot dogs sold at $1.35 = 510 units

So, we can calculate the price elasticity by using following formula:

Price elasticity = (%change in quantity ) ÷ ( %change in price )

Where, %change in quantity = (( 510 - 500 ) × 100) ÷ 500

=  1,000 ÷ 500

= 2

and %change in price = ((1.35 - 1.50 ) × 100) ÷ 1.50

= (-10)

So, by putting the value:

Price elasticity = 2 ÷ (-10)

= -0.2

Hence, the price elasticity of demand for hot dogs is -0.2.

You might be interested in
Shares of common stock of the Samson Co. offer an expected total return of 13.0 percent. The dividend is increasing at a constan
krok68 [10]

Answer:

b. 7.60 percent.

Explanation:

Dividend yield = expected return - dividend growth rate

  • expected return = 13%
  • dividend growth rate = 5.4%

dividend yield = 13% - 5.4% = 7.6%

Dividend yield is a financial metric that measures the rate of return that a stockholder receives every time a dividend is distributed. You can also calculate it by dividing dividends received by stock price.

4 0
3 years ago
What store do you think has this?<br><br> Winner receives: 20 points
Grace [21]
Home goods has things like that or world market
4 0
2 years ago
Sunny Day Manufacturing Company has a current stock price of $22.35 per share, and is expected to pay a per-share dividend of $2
seropon [69]

Answer:

Alpha Moose Transporters's retained earnings breakpoint is B. $1,655,556

Explanation:

Addition to retained earnings = $745,000

Weight of equity = 45%

Retained earnings breakeven = $745,000 / 45%

= $1,655,556.

Retained earnings breakeven is $1,655,556.

7 0
3 years ago
Read 2 more answers
Alpha has $40,000 of capital per worker, while Beta has $5,000 of capital per worker. In all other respects, the two countries a
VladimirAG [237]

Answer:

<u>lower return </u>

Explanation:

an additionl unit of capital will have a <u>lower return</u>  in Alpha compared to Beta

The diminishing return theory explains that if a factor is added, while the other remains the same, the return for each additional quantity added will be lower. So if both countries have the same amount of factor, Alpha adding more capital will not have the same return as doing it in Beta

ΔCapital/(40,000 + labor + land)  <   ΔCapital/(5,000 + labor + land)

That's because the divisor ir greater in Alpha it is required a higher amount of capital to produce the same return.

5 0
3 years ago
Leslie contracts with Remodel, Inc., to redo her living room, but she changes her mind and breaches the contract before Remodel
Varvara68 [4.7K]
Remodel Inc can seek compensation. By entering a contract with Leslie, both parties are bound by certain rules. The contractor must have spent some money related to performing the job. Breaching the agreement impacts on Remodel, financially speaking. They can therefore seek compensation for any amount spent due to the award of the contract, like logistics costs incurred to fulfill the contract.
6 0
3 years ago
Read 2 more answers
Other questions:
  • Two towns, each with three members, are deciding whether to put on a fireworks display to celebrate the new year. fireworks cost
    6·2 answers
  • The ability to use technology and commitment to stay informed on the latest technological developments is calledb
    8·1 answer
  • You are considering in investing one of the two options: Investment A requires a $255,000 upfront payment from you and generates
    8·1 answer
  • Lance lopes went to his bank to find out how long it will take for $1,500 to amount to $2,700 at 15% simple interest. can you so
    7·1 answer
  • Should Tangshan Mining company accept a new project if its maximum payback is 3.5 years and its initial after tax cost is​ $5,00
    7·1 answer
  • Which of the following statements regarding a tax sheltered annuity (tsa) is incorrect? the income from the tsa is received inco
    10·1 answer
  • An organization's job structure consists of relative pay for different functions and different levels of responsibility.
    6·1 answer
  • Do you think percentage gains
    11·2 answers
  • The document that details the specific audit procedures for each type of test is the?
    14·1 answer
  • jim root company operates four bowling alleys. the business just received the ​, ​, bank statement from city national​ bank, and
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!