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
Likurg_2 [28]
2 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]2 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

You might be interested in
Gfci circuitry continuously checks for a difference in current between the ___________.
In-s [12.5K]
<span>Gfci circuitry continuously checks for a difference in current between the hot and neutral. If there is more than 6mA of current difference between them, the GFCI will open the circuit.
GFCI stands for ground-fault circuit interrupter. It is there to protect people from electric shocks. If a person's body starts to receive a shock, the GFCI senses this and cuts off the power.</span>
6 0
3 years ago
A client will soon be completing a course of inpatient treatment for the treatment of schizophrenia. At what point should the ca
Evgesh-ka [11]

ANSWER:

Upon admission to the inpatient setting.

STEP-BY-STEP EXPLANATION:

An inpatient admission is generally appropriate when you're expected to need 2 or more midnights of medically necessary hospital care, but your doctor must order such admission and the hospital must formally admit you in order for you to become an inpatient.

4 0
2 years ago
Using the Chipotle example we have discussed in class imagine that all employees are paid $15/hour, the grill costs $300, and ea
Lelechka [254]

Answer:

The correct answer will be "$620".

Explanation:

It is important to note that certain principles are involved in the process of streamlining business processes, including:

  • Interpersonal skills of the organizational leaders.
  • Client focus entirely, defined objectives, accuracy, and so on., are encouraged.

The lowest cost will be:

= (15\times 8)+300+200

= 120+300+200

= 620 ($)

5 0
2 years ago
Which action would a government most likely take to reduce its
Rudik [331]
A; sounds like the best option
4 0
3 years ago
Claire created an ad for a company with a target audience of customers under the age of 16 for her advertisement. However, the p
ankoles [38]

She should have used language on a level that youth could easily understand.

For example, no complicated words or concepts.

8 0
3 years ago
Other questions:
  • Lab assistant who played a critical role in creating some of the first moving pictures
    15·1 answer
  • How many more calories would a 240-pound man need to consume than a 170-pound man to maintain a constant weight? How many more c
    15·1 answer
  • Account receivable for Crimson Inc. at the end of December 31, 2018 totals $200,000. This balance is due to four customers not p
    11·1 answer
  • Social regulation : A. is more concerned with the overall standard of living of society rather than with details of production p
    7·1 answer
  • Which of the following statements is CORRECT? Since depreciation increases the firm's net cash provided by operating activities,
    7·1 answer
  • All of the following are examples of mixed economies EXCEPT
    5·1 answer
  • A major equipment purchase is being considered Metro Atlanta. The initial cost is determined to be $1,000,000. It is estimated t
    9·2 answers
  • Jordan is considering three choices of spending the new year's eve. Option A is to dine outside at a luxury restaurant; option B
    10·1 answer
  • Super Smarts University has a sticker price of $45,000 per year. Kyle is applying there and uses their online net price calculat
    12·1 answer
  • Why does Publix expect you to bag with two hands
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!