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CaHeK987 [17]
3 years ago
11

Suppose the price for an Lyft ride in Austin, TX decreases from $15 to $12 causing the quantity of rides demanded to increase fr

om 1000 to 1600. Using the midpoint method, the price elasticity of demand for an Lyft ride is ________.
Business
1 answer:
Inessa [10]3 years ago
8 0

Answer:

Midpoint value of price elasticity of demand = -2.07

Explanation:

We know,

Midpoint value of price elasticity = \frac{(Q_{2} - Q_{1})/[(Q_{2} + Q_{1})/2] }{(P_{2} - P_{1})/[(P_{2} + P_{1})/2] }

Given,

Original Price, P_{1} = $15

New Price, P_{2} = $12

Original Quantity demanded, Q_{1} = 1,000 units

New Quantity demanded, Q_{2} = 1,600 units

Putting the value in the above midpoint formula, we can get

Midpoint value of price elasticity = \frac{(1,600 - 1,000)/[(1,600 + 1,000)/2]}{(12-15)/[(12+15)/2]}

Midpoint value of price elasticity = \frac{600/1,300}{-3/13.5}

Midpoint value of price elasticity = \frac{0.46}{-0.22}

Midpoint value of price elasticity of demand = -2.07

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The management accountant for Martha’s Book Store has prepared the following income statement for the most current year.
Tatiana [17]

Answer:

c. less corporate profits.

Explanation:

Subtract all the expenses from the revenue that are solely associated with Cookbook product line.

60000 - 36000 - 18000 - 2000 = 4000

This $4000 suggests that CookBook product line contributes profit of 4000 towards the company. So If the cookbook product line had been discontinued prior to this year, the company would have reported less corporate profits by $4000.

5 0
2 years ago
A U.S. Treasury bond pays a 4.5% coupon rate, has a $1,000 par value, and matures 30 years from now in 2050. The bond’s bid quot
VLD [36.1K]

Answer:

yield of maturity =3.60 %

Explanation:

given data

face value FV = $1000

coupon rate r = 4.5%

no of compounding peryear = 2

time period t = 30 year

solution

first we get here interest per period that is PMT

PMT = FV × r  ÷ 2

PMT = 1000 × 4.5%  ÷ 2 = 23

now we get here bond value that is

bond value = 1000 × (116 + \frac{12}{32} )%

bond value = 1163.75

and

number of compound period till the maturity will be NPER

NPER = no of compounding peryear × time period  

NPER = 30 ×  2 = 60

so now we get here yield of maturity by excel formula that is

yield of maturity = RATE(NPER,PMT,-PV,FV) × 2

yield of maturity = RATE(60,22.5,-1163.75,1000) × 2

yield of maturity =3.60 %

4 0
3 years ago
Suppose that in January there were 5,000,000 workers in the labor​ force, with 4,670,000 employed and 330,000 ​unemployed, imply
WINSTONCH [101]

Answer:

6.29%

Explanation:

The computation of the unemployment rate for the month of February is shown below:

Unemployment rate = Number of people unemployed ÷ Labor force

= 325,000 ÷ 5,170,000

= 6.29%

It is always shown in percentage form

Plus it is a ratio between the number of people unemployed and the labor force

Hence, all other information is not relevant. Therefore, ignored it

4 0
3 years ago
Assume the following data for a country: Category Number of People, Millions Total population 500 Population under 16 years of a
Aleonysh [2.5K]

Answer:

230 people

Explanation:

a. What is the size of the labor force

The labor force is the sum of the number of employed and unemployed, unemployed meaning people who lack employment, but who want to work, and are looking for a job.

First we substract the people that is not in the labor force, and those under 16 years of age from the total population: 500 - 120 - 150 = 230.

Of this figure, 150 people are unemployed, 23 are part time workers looking for full time employment (they are employed), and the rest: are 57 employed people.

So the size of the labor force is effectively 230 people.

4 0
2 years ago
How do you get money from the business ​
Reptile [31]

Answer:

Content

Determine how much funding you'll need.

Fund your business yourself with self-funding.

Get venture capital from investors.

Use crowdfunding to fund your business.

Get a small business loan.

Use Lender Match to find lenders who offer SBA-guaranteed loans.

Small Business Administration investment programs.

Explanation:

7 0
2 years ago
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