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Likurg_2 [28]
3 years ago
15

At the beginning of this year, daily consumption of gasoline in the US amounted to 344 million gallons. It is estimated that for

every 10% increase in the price of gasoline, quantity demanded falls by 1.9%. By the end of this year, the price of gasoline is expected to increase by 40 cents from $ 3.05 per gallon. Based on this information, what is the expected quantity demanded (QD) for gasoline at the end of this year
Business
1 answer:
Shkiper50 [21]3 years ago
8 0

Answer:

335.43 million gallons

Explanation:

price elasticity of demand (PED) = % change in quantity demanded / % change in price

PED = -1.9% / 10% = -0.19, very inelastic

expected price increase $0.40

% change in price = ($3.45 - $3.05) / $3.05 = 13.11%

% change in quantity demanded:

-0.19 = D / 13.11%

D = 2.49%

quantity demanded will decrease by 2.49%, from 344 million gallons to 335.43 million gallons

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Answer:

the exchange rate between two different currency is  6 pesos per dollar

Explanation:

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5 0
3 years ago
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gavmur [86]

Answer:

sup

Explanation:

i know

3 0
3 years ago
Creating an emergency fund to pay for unexpected expenses is known as __________________________________.
stich3 [128]

Answer:

b

"Saving for a Rainy Day"

Explanation:

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8 0
3 years ago
A plant asset was purchased on January 1 for $140000 with an estimated salvage value of $20000 at the end of its useful life. Th
alukav5142 [94]

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4 0
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Sheridan Company had these transactions pertaining to stock investments: Feb. 1 Purchased 2160 shares of Ayayai Company (10%) fo
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As this is an investment in another company, it will count as an asset which means that when it increases, the account will have to be debited. It will therefore be debited for $55,080 to show the investment.

Cash will decrease by the same amount which means that it will have to be credited because assets are credited when they decrease.

Dr Stock Investments      $55,080

Cr Cash                                               $55,080

6 0
3 years ago
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