Answer:
Price elasticity of demand for X=-2
Explanation:
The price elasticity of demand is a measure of the sensitivity in quantity of good demanded in relation to a change in price. It is often used to determine whether a good is elastic or inelastic. An elastic good is a good whose demand changes spontaneously with a change in price while an inelastic good is a good whose change in price doesn't affect the quantity demanded. Most inelastic goods are needs while most elastic goods are luxuries. A need is an item that most people cannot do without even if the price changes while a luxury is a good that most people can do without especially if the price of that good increases.
The price elasticity of demand can be determined using the expression below;
Price elasticity of demand=%change in quantity demanded/%change in price
where;
%change in quantity demanded={(Final quantity-initial quantity)initial quantity}×100=-10%
%change in price={(Final price-initial price)/initial price}×100=5%
replacing;
Price elasticity of demand=(-10%/5%)=-2
Price elasticity of demand=-2
Answer:
C) Sue will win.
Explanation:
In this case Sue is the principal and Ronnie is the agent. An agent has several duties with his/her principal which include care, integrity, honesty, confidentiality and loyalty. Most of the agent's duties cease once the agency relationship is over, but the duty of confidentiality does not.
Ronnie had the duty to keep Sue's personal information confidential even after their agency relationship was over, so Sue can win at a court.
Answer: $8,009.3
Explanation:
Given that,
Deposits(P) = $100 today (Annuity amount)
Additional deposits = $100 end of each quarter for the next 13 years
nominal annual rate = 6% compounded annually
![Quarterly\ rate(r) = \frac{0.06}{4}](https://tex.z-dn.net/?f=Quarterly%5C%20rate%28r%29%20%3D%20%5Cfrac%7B0.06%7D%7B4%7D)
= 0.015
No. of deposits (n) = 53
Payments are made at end of quarter. So future Value of annuity formula will become applicable.
Future value of annuity due = ![P\times\frac{(1+r)^{n}-1}{r}](https://tex.z-dn.net/?f=P%5Ctimes%5Cfrac%7B%281%2Br%29%5E%7Bn%7D-1%7D%7Br%7D)
= ![100\times\frac{(1+0.015)^{53}-1}{0.015}](https://tex.z-dn.net/?f=100%5Ctimes%5Cfrac%7B%281%2B0.015%29%5E%7B53%7D-1%7D%7B0.015%7D)
= 100 × 80.09
= $8,009.3
Therefore, she will have $8009.38 for her trip.
It indicates signs of inflation in the economy
Answer:
are costs that do not vary with production or sales level
Explanation:
Fixed cost can as well be regarded as overhead cost they are expenses in the company that does not depends on the change in the amount of goods and services produced in the company. They are time- related cost such as
salaries, property taxes, interest as well as insurance. It should be noted that fixed costs are costs that do not vary with production or sales level