Answer:
Range of price elasticity of demand for cigarettes is from (-0.5) to (-0.3).
Explanation:
Percentage increase in price = 10%
Percentage reduction in quantity demanded = 3% to 5%
We are taking percentage change in the quantity demanded is equal to 3% for now.
Initial price elasticity of demand for cigarettes:
= Percentage change in quantity demanded ÷ Percentage change in price
= -3 ÷ 10
= -0.3
Now, we are taking percentage change in the quantity demanded is equal to 5%.
price elasticity of demand cigarettes:
= Percentage change in quantity demanded ÷ Percentage change in price
= -5 ÷ 10
= -0.5
Therefore, the range of price elasticity of demand for cigarettes is from (-0.5) to (-0.3).
Answer: B. False
Explanation: If you chose a specific career and go for it until the end of high school you’ll probably have more knowledge in it but you can change your career by doing different curriculums during college or in the summer.
Answer:
666.666667
Explanation:
If you work it backwards by divison, you would do 4,000/6.
This will give you 666.666667.
To double check your work, you can do 666.666667 x 6 which equals 4,000.
In this case, Yen is still considered to be liable with the accident and that she must provide the needs of the customer due to the injuries that the customer receives because even if Art is in charge with the shop, she is still considered to be the owner which makes her liable with the accident.
Answer:
Real GDP (2014 price) = $ 250
Explanation:
GDP is the total value (PxQ) of goods & services, produced by an economy during a period of time. Real GDP is the value at constant base year prices.
Given [2015] : Fish Quantity = 5 , Computer Chip Quantity = 20
Base Year [2014] price : Fish = $10 , Computer Chip = $10
2015 Real GDP at 2014 base year price = Price 2014 x Quantity 2015
= (Fish PXQ) + (Computer Chip PXQ)
= (10 x 5) + (10 x 20)
= 50 + 200
= $ 250
