Answer:
c. $100,000
Explanation:
Since in the question it is given that the price elasticity of demand is unit elastic that means it is equal to one plus the total revenue do not changed if there is a change in price and the quantity demanded
So in this case, the new revenue is
New revenue = Price × Quantity
= $100 × $1,000
= $100,000
Hence, the correct option is c.
Answer:
$29,800
Explanation:
Calculation to determine initial cost of the bread machine
INITIAL COST
Purchase Price: $24,500
Freight: $1,450
Installation: $2,900
Testing: $950
Total cost of the bread machine: $29,800
Therefore initial cost of the bread machine is $29,800
The idea that is not consistent with perfect competition is product differentiation.
<h3>What is a perfect competition?</h3>
A perfect competition is a market where there are many buyers and sellers of identical goods and services. Market prices are set by the forces of demand and supply. This, they are price takers. There are no barriers to entry or exit of firms into the industry.
Here are the opti0ns to this question:
product differentiation
freedom of entry or exit for firms
a large number of buyers and sellers
price-taking behavior
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<span>These two services are substitutes. The demand for one good has an effect on the demand for another good. In this case, the lowered price of the taxi fares will lead to a lowered price for the use of the limo rentals, all else held constant.</span>
The annual interest rate is 10 %.
Annual percent fee refers to the yearly interest generated with the aid of a sum it's charged to borrowers or paid to buyers. APR is expressed as a percentage that represents the real yearly price of price range over the time period of a mortgage or profits earned on investment If a man or woman borrows hundred rupees at one rupee interest, for instance, he needs to pay one rupee hobby in keeping with month. So in twelve months, he has to pay ten rupees.
Here,
let the annual interest rate is r
new amount = $ 200
for the compound interest formula
new amount = initial amount * (1 + r)^time
200 = 100 * (1 + r)^7
solving for r = 0.104 = 10.4 %
the annual interest rate is 10 %.
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