1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nata [24]
3 years ago
6

Exhibit 5-2 price and quantity demanded data price quantity demanded 5 20 4 25 3 30 2 35 1 40 using exhibit 5-2, what is the pri

ce elasticity of demand when the price falls from five dollars to four?
Business
2 answers:
katovenus [111]3 years ago
6 0

Answer:

1

Explanation:

Since we need to determine the price elasticity of demand (PED) for a given range, not a specific price, we must use the midpoint method:

PED = {(Q2 - Q1) / [(Q2 + Q1) / 2]} / {(P2 - P1) / [(P2 + P1) / 2]}

= {(25 - 20) / [(25 + 20) / 2]} / {(4 - 5) / [(4 + 5) / 2]}

= (5 / 22.5) / (-1 / 4.5) = 0.2222 / -0.2222 = -1 ≈ 1 (when we calculate PED we use absolute values)

Yuki888 [10]3 years ago
4 0

Answer:

The price elasticity of demand is -5

Explanation:

Elasticity of demand measure the responsiveness of demand against the change in price of the product. It shows how much demand changes if there is the change in price.

Using mid point method

Change in Demand = $20 - $25

Change in Demand = -$5

Change in price  = $5 - $4

Change in price  = $1

As we know

Elasticity of Demand = Change in demand / Change in price

Elasticity of Demand = -$5 / $1

Elasticity of Demand = -5

You might be interested in
4) All of the following are true of known liabilities except:A) Include accounts payable, notes payable, and payroll.B) Are obli
Thepotemich [5.8K]

Answer: E) May depend on some future event occurring. It is not a characteristic of known liabilities.

Explanation:  Unknown or uncertain liabilities are those whose existence depends on the occurrence of a future event.

Known liabilities <u>are definitely determinable and measurable.</u>

<u />

3 0
3 years ago
Terra Corporation purchased equipment with a 10-year useful life and zero residual value for $100,000. At the end of the fourth
vazorg [7]

Answer:

Assets increase by $10,000

Total stockholders' equity increases by $10,000

Explanation:

Since in the question, it is given that, the purchase value of equipment is $100,000 and the exchanged value is $110,000

So, the difference of $10,000 ($110,000 - $100,000) would reflect that the assets would increase by $10,000 and the total stockholders' equity is also increased by $10,000

The exchange value is a combination of $70,000 in trade allowance and $40,000 was paid in cash

3 0
3 years ago
Keith and Dena Diem have personal property coverage with a​ $250 limit on​ currency, a​ $1,000 limit on​ jewelry, and a​ $2,500
netineya [11]

Answer:

Total Claim = $2416

Explanation:

The coverage on the currency = $250

The coverage on the jewelry = $1000

The limit on the gold, pewter, and silver = $2500

The amount that is stolen:

The amount of cash = $270

The worth of jewelry = $1734

Pewterware = $1666

The miximum coverage = 250 + 1000 + 2500 = $3750

Actual loss = 270 + 1734 + 1666 = $3670

Reimbursement amount = 250 + 1000 + 1666 = $2916

Total Claim = Total Amount Covered – Deductible  

Total Claim = $2916 - $500 = $2416

4 0
3 years ago
"Which of the following is correct?
ICE Princess25 [194]

Answer: Option (B) is correct.

Explanation:

The nominal GDP is equal to the real GDP in the base year, that's why GDP deflator in the base year is equal to 100.

GDP deflator is calculated as the nominal GDP divided by the real GDP multiply by 100. It is shown as:

GDP deflator = \frac{Nominal\ GDP}{Real\ GDP} \times 100

GDP deflator would be used as the conversion factor that transformed the real GDP into nominal GDP.

5 0
3 years ago
Rhea is a manager at an art supply store. She closely supervises her employees, but also explains decisions and asks for feedbac
stich3 [128]

(A) the coach's leadership style to guide employees to achieve the best possible results.

The four styles of leadership (coaches, facilitators, delegators, and leaders) can be demonstrated by individuals, depending on the circumstances they are facing and the level of ability and motivation they or their follower's exhibit.

Leadership is about achieving goals through the guidance of human assistants. A leader is someone who is successful in getting his human colleagues to achieve a specific goal. A good leader is someone who can do this every day, year after year, under different circumstances.

<em>This question is incomplete. Please read the question below.</em>

Rhea is a manager at an art supply store. She closely supervises her employees, but also explains decisions and asks for feedback. Which leadership style does Rhea use?

A. Coach

B. Supporter

C. Delegator

D. Director

Learn more about leadership here:brainly.com/question/12522775

#SPJ4

4 0
2 years ago
Other questions:
  • On May 1, Foxtrot Co. agreed to sell the assets of its Footwear Division to Albanese Inc. for $80 million. The sale was complete
    5·1 answer
  • Which of the following statements about investing is FALSE?
    10·1 answer
  • Explain the holistic marketing dimensions in details using the examples of Nestle bangladesh Ltd.
    10·1 answer
  • Those that learn best by pursuing interests through an individual pace have which learning preference?
    7·1 answer
  • Event → An organized occasion such as a meeting, convention, exhibition, special event, gala dinner, and so on. An event is ofte
    8·2 answers
  • Aaron Company estimates direct labor costs and manufacturing overhead costs for the coming year to be $800,000 and $500,000, res
    5·1 answer
  • Jeremy earned $100,000 is salary and $6,000 in interest income during the year. Jeremy's employer withheld $11,000 of federal in
    9·1 answer
  • A company purchased a van at a cost of $42,000 and expects it can be sold for $6,000 after 120,000 miles of service. Assuming th
    12·1 answer
  • You make a salary of $75,000 per year, and are to be given a bonus in stock options for this past year's work. You are to
    15·1 answer
  • Can we talk about the political and economic state of the world right now
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!