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
elixir [45]
3 years ago
11

On October 1, 2009, the Nintendo Wii's Japanese price dropped from ¥25,000 to ¥20,000. In the three months after the price drop,

Japanese sales of the Wii were approximately 1,040,000. Twelve months earlier, over the same interval at the high price, sales totaled 890,000. Using the midpoint method, what is the absolute value of the price elasticity of demand of a Wii console? Is it an elastic or inelastic good?
Business
1 answer:
kykrilka [37]3 years ago
4 0

Answer:

B) 0.7; inelastic

Explanation:

The computation of the absolute value of the price elasticity of demand is shown below:

Elasticity is

= [(Sales - prior sales) ÷ ( Sales + prior sales) ÷ 2] ÷ [(price - dropped price) ÷ (price - dropped price) ÷ 2

= [(1,040,000 - 890,000) ÷ (1,040,000 + 890,000) ÷ 2] ÷ [(25,000 - 20,000) ÷ (25,000 + 20,000) ÷ 2]

= (150,000 ÷ 965,000) ÷ (5,000 ÷ 22,500)

= 0.15 ÷ 0.22

= 0.7

It is less than one so the demand is inelastic

You might be interested in
You are a public relations specialist for the local university. The board of regents has decided to raise tuition, and they have
hichkok12 [17]

Answer:

Callous

Explanation:

Showing the counters of tuition $200 per credit.

4 0
3 years ago
Assume $1,000 is deposited in a checkable account by mr. y in bank
otez555 [7]
Hi there

1,000÷0.20
=5,000

5,000−1,000
=4,000....Answer (this is the total amount of money can be created)

Hope it helps
4 0
3 years ago
If an agent injures a third party during the course of employment, to what extent should the employer be held liable? Under what
postnew [5]

Answer:

The employer will be held liable.

Explanation:

If the external agent brings harm or injury to a third party in the course of an employment, the employer is held liable. When a principal directs an agent to commit for a tort or if the principal is aware of the consequences of carrying the instructions of the agent could cause harm or injure the person, then the principal is liable.

It is called direct liability.

The liability for the intentional tort which is imputed to the principal when the agent acts to further the business of the principal.

The agent is personally liable under the following circumstances :

  •   Foreign principal
  • Agent signs the contract in his own name
  • Non-existent principal
  •  Principal cannot be sued:
  • Undisclosed principal

Example :

A credit card company hires a sales person and offers a company van to make sales in that area. The sales person uses the office van to official purposes. But one night, he drove the car to a friend's party and while coming he drove over a pedestrian. In this case, the owner of the company will not be held liable as the sales person uses the company van for his personal use while going out for party with his friends. While causing the accident, the sales person was not not using the office van for official purposes and was not tendering official duties at that time.

3 0
3 years ago
A linear production possibilities curve indicates which of the following?
lilavasa [31]

Answer:

I think ur answers are A, B, and C.

Explanation:

Hope this helps!

6 0
2 years ago
The essential problem that money solves in an economy is: a. a lack of a double coincidence of wants in an economy based on bart
navik [9.2K]

Answer:D

Explanation:

4 0
3 years ago
Other questions:
  • Price involves charging a high price for a product initially then lowering the price over time
    14·2 answers
  • Jarrett company is considering a cash outlay of $300,000 for the purchase of land, wich it could lease our for $36,000 per year.
    15·1 answer
  • Software that streamlines and automates business processes and enables organizations to use data effectively is called _______ s
    15·1 answer
  • On January 1, Butte Company's Valuation Allowance for Trading Investments account has a debit balance of $23,200. On December 31
    15·1 answer
  • In 2021, Long Construction Corporation began construction work under a three-year contract. The contract price is $1,600,000. Lo
    15·1 answer
  • Mobility Partners makes wheelchairs and other assistive devices. For years it has made the rear wheel assembly for its wheelchai
    14·1 answer
  • g Which of the following are included when establishing advertising​ objectives? A. Tonality and advertising appeal B. Message a
    9·1 answer
  • Thad, a single taxpayer, has taxable income before the QBI deduction of $176,000. Thad, a CPA, operates an accounting practice a
    11·1 answer
  • How do i know im not gay
    9·2 answers
  • Carol and leslie enter into a contract stating that carol will pay leslie $650 per month for the next 20 years. carol will live
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!