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erma4kov [3.2K]
3 years ago
14

At a price of $100, Beachside Canoe Rentals rented 11 canoes. When it increased its rental price to $125, 9 canoes were rented.

Calculate the absolute value of the price elasticity of demand for canoe rentals, using the midpoint formula. Group of answer choices
Business
1 answer:
Kay [80]3 years ago
4 0

Answer:

The absolute value of the price elasticity of demand for canoe rentals is 0.9

Explanation:

In order to calculate absolute value of the price elasticity of demand for canoe rentals we would have to make the following calculation:

price elasticity of demand for canoe rentals = ((9-11)/(9+11)/2)/((125-100)/(125+100)/2) = -.9

price elasticity of demand for canoe rentals=-0.9

absolute value of -0.9 is 0.9

Therefore, the absolute value of the price elasticity of demand for canoe rentals is 0.9

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Black markets may develop as a result of price controls because: individuals can profit by illegal exchanges. price controls inc
prisoha [69]

Answer:

individuals can profit by illegal exchanges.

Explanation:

The closest correct answer is that a black market is most of the time very profitable, because prices tend to be higher than they would be without the black market, and without the price controls.

The reason why black markets emerge when price controls are imposed is because price controls do not allow prices to equilibrate supply and demand, meaning that under a price control, supply falls short of demand, causing scarcity for consumers.

This scarcity can be solved by the black market with higher prices.

7 0
3 years ago
Honda Motor Company is considering offering a $ 1 comma 900 rebate on its​ minivan, lowering the​ vehicle's price from $ 29 comm
Debora [2.8K]

Answer:

It is a good idea as the profit will increase by 301,434,000

Explanation:

Profit with the rebate: 6,730

minivan sold 55,800

total profit:

55,800 x 6730 =  375,534,000

not we will calcualte the cost which is:

39,000 minivan will be sold at 1,900 lower cost:

39,000 x 1,900 = 74.100.000 opportunity cost

net : 375,534,000 - 74,100,000 = 301,434,000‬

8 0
3 years ago
About how many people in the u.s. claim arab ancestry?
jenyasd209 [6]

About three million people in the u.s. claim Arab ancestry

Who are Arabs?

  • A sizable ethnic group, the Arabs are also referred to as the Arab people, and they are mostly found in the Arab world, which includes parts of Western Asia, North Africa, the Horn of Africa, and the western Indian Ocean islands (including the Comoros).
  • A sizable number of Arabs have also emigrated to other parts of the world, including the Americas, Western Europe, Turkey, Indonesia, and Iran.
  • The word "Arab" is often used in modern contexts to describe people who are both speakers of Arabic and members of that ethnic group.
  • Arabs are also referred to as a socio-ethnic group in a source that contrasts Arabs in Europe with other socio-ethnic communities.
  • This contrasts with the more limited conventional meaning, which only refers to the offspring of Arabian tribes.

To learn more about Arab, refer to the following link:

brainly.com/question/7414837

#SPJ4

4 0
2 years ago
Barter requires that you know the market value of all the goods and services that you want and have to offer. are a member of an
inn [45]

Answer: the goods and services that money can buy.

Explanation: this phrase simply means we only want money so we can spend it on other goods/services. Examples of such goods and services are

1. Cars

2. Electronics ( Television s)

3. Foods e.t.c

This begs the question what is money: money is a medium or means of exchange, money can be banknotes or coins.

8 0
3 years ago
Read 2 more answers
Mieko wants to finance her first home, and she'd also like use the same bank for her personal checking and savings. she doesn't
kow [346]

Mieko's best option to finance her first home and open checking and savings accounts is a retail bank.

<h3>What bank should Mieko use?</h3>

Retail banks offer services to individuals which make them more likely to care about the needs of a self-employed person like Meiko.

They also offer reasonable interest rates which will allow for Meiko to get funding to finance her first home.

Find out more on retail banking at brainly.com/question/1263347.

#SPJ1

5 0
2 years ago
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