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ki77a [65]
3 years ago
6

Suppose that the percentage change in demand is 10%, the price elasticity of demand is 1, and the price elasticity of supply is

2. What is the percentage change in the equilibrium price?
Mathematics
1 answer:
maria [59]3 years ago
3 0

Answer: 3.3%

Step-by-step explanation:

Formula:

The percentage change in equilibrium price = (percentage change in demand) / (Ed + Es) * 100%

The given parameters are:

Percentage change in demand = 10% = 0.1

Ed (Price elasticity in demand) = 1

Es (Price elasticity in supply) = 2

Therefore, substituting the given parameters into the formula above,

Percentage change in equilibrium price = 0.1/(1+2) * 100%

= 0.1/3 * 100%

= 0.03333 * 100%

= 3.33%

This means that the percentage change in equilibrium price will be 3.33% when the change in demand is 10%.

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Add 3 to both sides

8 > z OR z < 8

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2 years ago
Help please with algebra problem
Strike441 [17]
Number of weekend minutes used: x
Number of weekday minutes used: y

This month Nick was billed for 643 minutes:
(1) x+y=643

The charge for these minutes was $35.44
Telephone company charges $0.04 per minute for weekend calls (x)
and $0.08 per minute for calls made on weekdays (y)
(2) 0.04x+0.08y=35.44

We have a system of 2 equations and 2 unkowns:
(1) x+y=643
(2) 0.04x+0.08y=35.44

Using the method of substitution
Isolating x from the first equation:
(1) x+y-y=643-y
(3) x=643-y

Replacing x by 643-y in the second equation
(2) 0.04x+0.08y=35.44
0.04(643-y)+0.08y=35.44
25.72-0.04y+0.08y=35.44
0.04y+25.72=35.44

Solving for y:
0.04y+25.72-25.72=35.44-25.72
0.04y=9.72

Dividing both sides of the equation by 0.04:
0.04y/0.04=9.72/0.04
y=243

Replacing y by 243 in the equation (3)
(3) x=643-y
x=643-243
x=400


Answers:
The number of weekends minutes used was 400
The number of weekdays minutes used was 243
6 0
3 years ago
Li rolls a number cube labeled 1 to 6 a total of 24 times. How many times can she expect to roll a 1
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Li can expect to roll a one 4 times.

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