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Kay [80]
3 years ago
13

Suppose that when the price of good X falls from $10 to $8, the quantity demanded of good Y rises from 20 units to 25 units. Usi

ng the midpoint method,
Business
1 answer:
White raven [17]3 years ago
4 0

Answer:

The question is incomplete; Calculate the price elasticity of demand

The answer is -2 showing that the Price Elasticity of Demand for the good in question is highly elastic.

Explanation:

Price Elasticity of Demand  =  percent change in quantity  / percent change in price

percent change in quantity =  {Q 2 − Q 1 / [( Q 2 + Q 1 ) ÷ 2]} × 100

percent change in price  = {P 2 −  P1 / [( P 2 +  P1 ) ÷ 2]} × 100

percent change in quantity= {25 − 20/ [(25 +20) ÷ 2]} × 100= 22.2%

percent change in price  = {8-10 / [( 8+10) ÷ 2]} × 100 = -11.11%

Price Elasticity of Demand  = 22.2% / -11.11%= <u>-2</u>

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During January 2020 General Fund supplies ordered in the previous fiscal year and encumbered at an estimated amount of $2,000 we
ira [324]

Answer:

Expenditures-2020 in the amount of $200

Explanation:

General fund supplies made last year were an estimated amount of $2000 was spent. So for last year there would have been a debit and credit leg for this transaction as.

In the present year 2020 it was received at an actual cost of $2,200. The excess cost (2,200-2,000= $200) must be recognised.

So the debit is passed into expenditures for this year 2020 for amount $200.

5 0
3 years ago
What is the Future of TV going to Look Like?
Xelga [282]

Answer:

I think it will float.

Explanation:

Why? probly because it's the future. Duh, lol

5 0
3 years ago
Read 2 more answers
Khalida is sending an e-mail message to a client. before sending it, she wants to make sure that she has made her point in the f
erik [133]

i guess the correct answer is conciseness

Khalida is sending an e-mail message to a client. Before sending it, she wants to make sure that she has made her point in the fewest possible words.

Khalida is checking for conciseness.

4 0
3 years ago
A certain firm produces and sells staplers. Last year, it produced 7,000 staplers and sold each stapler for $6. In producing the
ahrayia [7]

Answer:

<u>Average total cost for 7000 staplers was= $2.43</u>

Explanation:

Total Cost=Fixed Cost +Variable Cost

Fixed Cost =$45000-$28000

Fixed Cost=$27000

Average total Cost= Fixed Cost/ Quantity

=17000/7000

=$2.43

4 0
3 years ago
North Carolina produces sweet potatoes in its rich soil, but does not have the climate to grow oranges well. It is correct to sa
inessss [21]

Answer:

c. comparative advantage in

Explanation:

In economics, comparative advantage is the advantage a trade party has over the other party, in the production of a a particular good that has a relatively lower opportunity cost. It simply involves exploring the option that has overall best package.

North Carolina has a comparative advantage in sweet potato production relative to Florida, as the opportunity cost involved is lower, since there is little potential benefits North Carolina will get in the production of oranges.

3 0
3 years ago
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