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Free_Kalibri [48]
3 years ago
6

If the absolute value of the price elasticity of demand for a good is .75, the demand for that good is described asa. normal.b.

elastic.c. inferior.d. inelastic.
Business
1 answer:
Schach [20]3 years ago
3 0

Answer: Option (d) is correct.

Explanation:

Inelastic demand : The goods with the price elasticity of demand less than 1 are referred as a inelastic good.

When the percentage in quantity demanded is less than the percentage change in price, then the demand for that commodity is called as less elastic or inelastic.

It is generally represented by a steeper demand curve.

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A monopolist faces a demand curve given by: P = 105 – 3Q, where P is the price of the good and Q is the quantity demanded. The m
geniusboy [140]

Answer: 15

Explanation:

For profit to be maximized by a monopolist, the marginal revenue and marginal cost must be gotten.

P= 105-3Q

MC= 15

Since total revenue is price × quantity, TR= P×Q = (105-3Q)Q

= 105Q-3Q^2

MR= 105-6Q

Since we've gotten marginal revenue and marginal cost, we equate both together.

MR=MC

105-6Q = 15

6Q = 105-15

6Q=90

Divide both side by 6

6Q/6 = 90/6

Q= 15

The quantity that will maximise profit is 15

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3 years ago
Which of these is the result of a government-regulated natural monopoly?
mezya [45]
I believe it would be C.) multiple installations of gas, water, and electric lines
5 0
2 years ago
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Where in a business plan should the executive summary go?
8_murik_8 [283]

Answer:

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What is the distinctive competency Toyota appears to be hoping to achieve by investing in Uber Technologies?
JulsSmile [24]

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b. Intellectual property

Explanation:

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Uber has cutting edge technology that makes it stand out from other car hailing services.

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