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Harrizon [31]
3 years ago
15

When price = $33, quantity demanded = 460. When price = $31, quantity demanded = 500. The price elasticity of demand is ________

_______, making this an _____________ good in the price range between $31 and $33.
A. 1.33; inelastic
B. 1.33; elastic
C. 0.75; elastic
D. 0.75; inelastic
E. 6,2; elastic
Business
1 answer:
notsponge [240]3 years ago
7 0

Answer:

  • PED = 1.33
  • elastic good

Explanation:

to calculate the price elasticity of demand (PED) using the midpoint method = {(500 - 460) / [(460 + 500)/2]} / {(31 - 33) / [(31 + 33)/2]} = (40 / 480) / (2 / 32) = 0.0833 / 0.0625 = 1.33

when the PED > 1, elastic

when the PED < 1, inelastic

when the PED = 1, unitary

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In this case, since fewer people want to work on the night shift, in order to attract workers, the company might pay more for doing so. US laws does not require for night shifts to be paid higher wages, but the law of demand and supply might be responsible for the higher wages (demand and supply of labor).

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In addition to identifying the problem a product or service solves, a value hypothesis
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2 years ago
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At the end of its first year, the trial balance of Nygaard Company shows Equipment 532,900 and zero balances in Accumulated Depr
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Answer:

Debit: Depreciation Equipment Expense: 4.400

Credit: Accumulated Depreciation Equipent: 4.400

Explanation:

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The normal balance for the expense account is an expense and for the accumulated depreciation is a credit.

Lets go to see the T accounts:

            <u>EQUIPMENT</u>  

DEBIT                    CREDIT    

532 900,00  

 

           Accumulated Depreciation  

DEBIT                                            CREDIT    

                                                      4.400                                                                      

    Expense Depreciacion

DEBIT                           CREDIT    

4.400

BALANCE SHEET PRESENTATION:

ASSETS

FIXED ASSETS

EQUIPMENT                           532.000

Accumulated Depreciation     -4.400

NET FIXED ASSETS                                 528.500

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Answer:

I have never seen this sorry

7 0
3 years ago
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