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Illusion [34]
3 years ago
10

Suppose the price of widgets rises from $5 to $7 and consumption of widgets falls from 25 widgets a month to 15 widgets. Calcula

te your price elasticity of demand of widgets. What can you say about your price elasticity of demand of widgets? Is it Elastic, Inelastic, or Unitary Elastic? Why? Please show your work.
Business
1 answer:
Tamiku [17]3 years ago
3 0

Answer:

1

Unitary elastic

Elasticity of demand is unitary elastic because the absolute value of elasticity is equal to 1.

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Elasticity of demand = percentage change in quantity demanded / percentage change in price

Percentage change in quantity demanded = (25 - 15) / 25 = 0.4 × 100 = 40%

Percentage change in price = ($5 - $7) / $5 = 0.4 × 100 = 40%

Elasticity of demand = 40% / 40% = 1

If coefficient of elasticity is equal to 1, demand is unit elastic. It means that a change in price has an equal efect on the quantity demanded. Quantity demanded has an equal and proportional change to changes in price.

I hope my answer helps you

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The Baldwin company currently has the following balances on their balance sheet: Assets $180,506 Common Stock $11,365 Retained e
Amiraneli [1.4K]

Answer:

The total liabilities for the next year amount to 37163 $.

Explanation:

To calculate the liability we will use the simple equation given below.

Asset-equity=liability

Assets-RE=Liability

                        Current year      Change*        Next Year

Assets                  180,506.00    29,506.00        151,000.00  

Common Stock   (11,365.00)         0               (11,365.00)

Retain Earning  (92,472.00)  (10,000.00)      (102,472.00)

Liability- BaL figure   76,669.00                           37,163.00  

   

*Retain earning= Net profit- dividend  

Hence balancing figure that is 37,163 dollars is liabilty for next year,  

7 0
3 years ago
If a firm has a $1,500,000 debt limit before AT kd will change and if taxes are 40% and total equity in the capital structure is
andrew-mc [135]

Answer:

$2,500,000

Explanation:

Break Point = Level of debt / Weight of debt

(100%-40%)

=60%

Hence:

= 1,500,000 / 60%

= $2,500,000

Therefore the debt breakpoint in the MCC schedule will be $2,500,000

6 0
3 years ago
Angor, a manager at Primely Co., is asked by his manager to rate his subordinates' performances. He needs to rate 30 employees o
kvv77 [185]

Answer:

Leniency

Explanation:

In business, leniency refers to a of mistake that occurred when you do not take instruction from your superior or client too seriously.

Typically, this will resulted in a confrontation since the one who pay for your labors believed that you just take their money without wanting to provide good results.

In the example above, from 30 employees, Angor rate 25 of them with an exact same rating. (8 from possible 1-10). This will most likely occur because Angor did not really use a strong/proper requirements for the scoring.

8 0
3 years ago
The goal of scientific management is to . select one:
lana [24]

<span>The goal of scientific management is to find different ways to motivate workers. </span>

E is the correct answer

 and you r welcome

7 0
3 years ago
One tactic that organizations implement to help employees attain new jobs after going through layoffs is
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3 years ago
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