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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.

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Answer:

$91.50 per share

Explanation:

The computation of the stock k share price is shown below:

Total  value of portfolio = $27,000

The 39% invested in Stock J and the remaining 61% is invested in stock K

So, the value of K is

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We simply divide the portfolio value of K by the number of shares owned by Stock k so that the share price of stock K could come

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3 years ago
What was the organization created by the kennedy administration to aid the economic and educational progress of developing count
Vladimir79 [104]

Foreign Assistance Act was the organization created by the Kennedy administration to aid the economic and educational progress of developing countries.

<h3>What was Foreign Assistance Act?</h3>

The Foreign Assistance Act  can be regarded as an act that was structured to offer  foreign assistance programs as well as  distinguishing between military from non-military aid.

The foreign aid or assistance can come inform of any type of assistance that is been voluntarily transferred from one country to another country and this can be in form of a gift as well as grant, or loan.

In some cases foreign aid can be inform of capital, as well as food supplies, and services and it can also be categorized as humanitarian aid and military assistance.

Some of the common foreign aid or assistance are;

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Hence, Foreign Assistance Act was the organization created by the Kennedy administration to aid the economic and educational progress of developing countries.

Learn more about Foreign Assistance Act  at:

brainly.com/question/24553900

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7 0
2 years ago
Assume that the accounts receivable (in millions) were $1,308 at the beginning of
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6 0
3 years ago
Eckert Company is involved in producing and selling high-end golf equipment. The company has recently been involved in developin
zloy xaker [14]

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                       = ($7,828,000 × 25%) ÷ (103,000 laser guns)

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3 0
3 years ago
Oriental Corporation has gathered the following data on a proposed investment project:
KIM [24]

Answer:

d. 4 years

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The formula to compute the payback period is shown below:

= Initial investment ÷ Net cash flow

where,  

Initial investment is $200,000

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