Answer:
0.95
Explanation:
Given that,
Market demand for wheat: Q = 100 − 2p + 1pb + 2Y
price of wheat, p = $2
price of barley, pb = $3
Income, Y = $1000
Q = 100 − 2p + 1pb + 2Y
= 100 - (2 × 2) + (1 × 3) + (2 × 1,000)
= 100 - 4 + 3 + 2,000
= 2,099
Differentiating Q with respect to Y,
dQ/dY = 2
Income elasticity of wheat:
= (dQ/dY) × (Y ÷ Q)
= 2 × (1,000 ÷ 2,099)
= 0.95
Supplies expense is $11,400.00.
Expenses = Beg Inv + Addl Inv - Remaining
= 5,100 + 12,400 - 6,100
= 11,400
To solve this question, first we need to find out the price of a single donut.
12 donuts = $ 6.00
1 donuts = $6.00 / 12
1 donuts = $ 0.50
After that, we just need to multiply the price for a single donut with the required amount (9), which will be:
9 x $ 0.50 = $ 4.50 . . . . for 9 donuts
Answer:
2.5
Explanation:
P1=$200
P2=$300
S1=100000
S2=300000
The percentage change in price is:
The percentage change in supply is:
The price elasticity of supply is given by:
The price elasticity of supply is 2.5.
Answer:
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Explanation:
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