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
Katena32 [7]
3 years ago
5

Suppose that a 2% increase in price results in a 6% decrease in quantity demanded. Own-price elasticity of demand is equal to​

SAT
1 answer:
kodGreya [7K]3 years ago
8 0

Answer:

The correct answer to the following question will be "3".

Explanation:

The given values are:

Percentage demand,

= 6% i.e., .06

Percentage change in the price,

= 2% i.e., .02

Now,

Own-price elasticity of demand will be:

=  \frac{Percentage \ demand}{Percentage \ change \ in \ price}

On substituting the estimated values, we get

=  \frac{.06}{.02}

=  3

You might be interested in
a box contains 10 equal-sized balls, numbered 1 to 10. two balls are drawn at random simultaneously. what is the probability tha
EleoNora [17]

The probability that the two balls are chosen <u>will differ by more than 2</u> is 43/45

Probability is the likelihood or chance that an event will occur.

If a box contains 10 equal-sized balls and 2 balls are chosen at random from the box, the total outcome will be expressed as:

10C_2=\frac{10!}{(10-2)!2!}\\ 10C_2=\frac{10!}{8!2!}\\10C_2=\frac{10\times 9 \times 8!!}{8!2!}\\10C2=\frac{90}{2} =45 ways

If the number on the two balls chosen will<u> differ by less than or equal to 2,</u> the expected outcomes are (1, 2), (1, 3) that is 2 outcomes

The probability that the two balls are chosen will differ by less than or equal to 2 is 2/45

The probability that the two balls are chosen <u>will differ by more than 2</u> is 1 - 2/45 = 43/45

Learn more here: brainly.com/question/13604758

3 0
2 years ago
What does stanza 7 reveal?
slamgirl [31]

Answer:

Tells the name from dads favorite song

Explanation:

IREADY I DID IT IT IS CORRECT

4 0
3 years ago
Read 2 more answers
What is refraction? A. When light hits a shiny surface, it bounces off and goes in the opposite direction. B. Combining red, blu
ki77a [65]
I think its A but I'm not sure
7 0
3 years ago
Read 2 more answers
What is the most likely conclusion that can be drawn about how this table would look in december 2013?it would look the same bec
just olya [345]

The conclusion which can be drawn with respect to the nature of an exchange-rate table in December 2013 is that: B. It would look different because exchange rate tables change constantly.

An exchange rate can be defined as a number that is used to denote or represent the financial value of a currency in comparison with another currency.

On a related note, the foreign exchange market is a market that is used for converting the currency of a particular country into the currency of another country. For example, the dollars (United States of America) can be converted into naira (Nigeria) in the foreign exchange market.

In the foreign exchange market, the exchange rate for various countries are typically shown or displayed by using the exchange-rate table, which changes constantly depending on the following factors:

  • Inflation
  • Gross Domestic Product (GDP)
  • Trade balance
  • Money supply

In conclusion, the conclusion which can be drawn with respect to the nature of an exchange-rate table in December 2013 is that, it would look different because exchange rate tables change constantly.

Read more on exchange rate here: brainly.com/question/11160294

5 0
2 years ago
X,24,32,33,37,42,45
mr Goodwill [35]

Answer:

What role does blood play before cellular respiration can occur?

Blood releases energy from very small molecules.

Blood carries energy from cytoplasm to a mitochondrion.

Blood delivers oxygen and glucose to cells.

Blood delivers carbon dioxide and water to cells.

Explanation:

7 0
3 years ago
Other questions:
  • How long will it take for someone to run the whole United States?
    13·2 answers
  • What are the advantages of following a strict repayment schedule?
    9·2 answers
  • What is the weather like in the northern latitudes?
    11·2 answers
  • HEYYYY i’m going to FSA RN (florida standard assessments) which sees if i pass i took writing a couple weeks ago but lol it’s ma
    7·2 answers
  • Which sentence (A or B) or sentences ( A and B) have correct parallel structure?
    12·1 answer
  • The valves in the heart open and close to move blood in between heart chambers. O a) three directions O b) two directions O c) f
    7·2 answers
  • What is the main message of this propaganda poster? American troops are struggling to win battles in Europe. The best way to sup
    13·1 answer
  • Select the graphs that have an equation with a &lt; 0.
    6·1 answer
  • A 10 kg box initially at rest is pulled 32 meters across a horizontal, frictionless surface by a 40 n force, as shown in the dia
    12·1 answer
  • Please select the word from the list that best fits the definition an explanation of the relationships among particular phenomen
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!