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nasty-shy [4]
2 years ago
15

A decrease in the price of eggs from $1.50 to $1.30 per dozen resulted in an increase in egg purchases from 60 to 100. The price

elasticity of demand using the midpoint formula is therefore
Business
1 answer:
tiny-mole [99]2 years ago
7 0

Answer:

Explanation:

In using the midpoint method to calculate price elasticity , the average percentage change in the price and quantity are used

formula = percentage change in quantity = (Q2 -Q1/(Q2+Q1)/2)*100

Percentage change in price = ( P2 -P2/(P2-P1)/2)*100

Price changes = $1.5 to $1.3

Quantity changes = 60 to 100

Percentage in price = (1.3-1.5 /(1.5+1.3)/2 )*100

(-0.2/1.4)*100 =-14.29%

Percentage in quantity = (100-60/(100+60)/2)*100

40/80*100 = 50%

Therefore , price elasticity of demand = 50/-14.29 = -3.5

With the elastic interval being less than 1 , it means that it is an inelastic  demand

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alekssr [168]

Answer:

b) $1,950,000

Explanation:

Value of gift cards redeemed with those whose date of redemption has passed, will both have the amount to revenue out of $2,000,000 of the gift cards sold.

Total gift card revenue to be recognized in 2016 = $1,800,000 + $150,000

Total gift card revenue to be recognized in 2016 = $1,950,000

4 0
2 years ago
When senior managers of a construction firm gather information to evaluate whether supply trends will have a significant effect
serg [7]

Answer:

The correct answer is letter "A": True.

Explanation:

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2 years ago
Shane's buyers learned during the inspection that there was water damage around the fireplace and that the chimney needed new fl
MAVERICK [17]

Shane should just call the steeplejack.

  • Flashing serves as an additional layer of water protection; however, if you notice leaks, your flashing is damaged. You may experience water damage if you find rust, holes, or areas where the flashing has worn down. However, it would still be best to replace it.
  • Repointing your chimney brick mortar would be your first step. Repointing is the process of taking out the crumbly mortar, then replacing it with a new batch of mortar.
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8 0
1 year ago
When happens when demand exceeds supply?
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A shortage occurs when demand exceeds supply – in other words, when the price is too low. However, shortages tend to drive up the price, because consumers compete to purchase the product. As a result, businesses may hold back supply to stimulate demand.

4 0
3 years ago
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lisabon 2012 [21]

The​ distribution organizes data by recording all the values observed in a sample as well as how many times each value was observed.

Data distribution is a function that provides all possible values ​​of a variable and also quantifies their relative frequencies (probabilities of how often they occur). Distributions are considered for all populations in which the data are spread out. Another example is a pie chart showing the percentages of different substances that make up the complete object.

We divided the distributions into two categories, depending on the type of organizes data you are using. Discrete distributions for discrete data (finite results) and continuous distributions for continuous data (infinite results).

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