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pychu [463]
3 years ago
12

If a $100 drop in the price of a $10,000 car resulted in an increase in the quantity of cars purchased from 100 to 110 and a $10

0 drop in the price of a $1000 vacation rental resulted in an increase in the quantity of weekly vacation homes rented from 100 to 110, the price elasticity of demand is:
Business
1 answer:
nordsb [41]3 years ago
5 0

Answer:

Price elasticity of demand is greater for the Car

Explanation:

Price elasticity of Demand = (Q2 - Q1/Q1) ÷ (P2 - P1/P1)

For the car,

PED = (110 - 100/100) ÷ (10000-9900/10000)

= 0.1 ÷ 0.01

= 10

PED = (110 - 100/100) ÷ (1000-900/1000)

= 0.1 ÷ 0.1

= 1

Since 10 > 1, hence the PED of the Car is greater than that of vacation homes.

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stich3 [128]

Answer:

Technological advances such as computers, crock pots, and bread makers have increased household's efficiency in producing many goods.

Explanation:

With the advances in technology, almost every process has become less time-consuming and more convenient. Most people go for one one-time solution for getting the job done. For example, a lot of households have invested in specialized machinery such as bread makers, juicers, etc so they don't have to outsource simplest of things. Moreover, this is less costly as getting things done from elsewhere involves taxes.

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3 years ago
Melanie: "I'll buy that armoire for $775." Judith: "It's not for sale." Melanie: "How about $875?" Judith: "I don't know. It's b
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Answer:

D) There is no contract.

Explanation:

The main requirements for a legal contract to exist is that:

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4 years ago
The Van Horns deposit funds with ABC Escrow as a requirement for the purchase of their new home. Who is the grantee and the thir
Gwar [14]

Answer:

This is an escrow transaction. An escrow is an arrangement where a third party (ABC Escrow) holds funds for a given transaction between other two parties.

The Van Horns are the grantees in this transaction.  

The escrow is responsible for the safe keeping of the funds, in order to avoid any type of loss or fraud.

5 0
3 years ago
What is application software used for
antiseptic1488 [7]

To help monitor your Business even you're out of the country doing Business meeting or some family vacation.

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4 years ago
A.
Cloud [144]

Answer:llll

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