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Roman55 [17]
3 years ago
6

When the price of Nike tennis shoes goes from $100 to $80, the quantity demanded increases from 20 to 30 million. Over this pric

e range, the absolute value of the price elasticity of demand is a. 1. b. 1.80. c. 2.50. d. 0.55. e. 1.25
Business
1 answer:
PtichkaEL [24]3 years ago
4 0

Answer:

c. 2.50.

Explanation:

Elasticity of demand is defined as the degree of responsiveness of quantity demanded to changes in the price of a commodity. It is calculated as percentage change in quantity demanded divided by percentage change in price.

Elasticity is considered elastic if the value is above one, and is means an increase in price results in significant decrease in demand.

When elasticity is less than 1 it is said to be inelastic and increase in price does not result in significant change in demand.

Percentage change in quantity= (30millon- 20 million)/20 million= 0.5

Percentage change in price= (100-80)/100

Percentage change in price= 20/100= 0.2

Elasticity= 0.5/0.2= 2.5

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Answer:

Family Style Seating.

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Explanation:

7 0
3 years ago
Ramon, a single taxpayer with no dependents, has adjusted gross income for 2021 of $98,000 and his itemized deductions total $9,
Nutka1998 [239]

The taxable income will Ramon show in 2021 is $89,000

What is taxable income?

The taxable income of a taxpayer means the income upon which tax would be charged in the tax year, it is determined as the adjusted gross income minus the itemized deductions of the taxpayer.

The  itemized deductions  means those amounts due to legal pronouncements, which have been exempted from taxes, which means , they need to be deducted from the taxpayer gross earnings before tax computation.

It is the tax authority way of providing succor to taxpayers by granting certain exemptions.

Taxable income=adjusted gross income- itemized deductions

Taxable income=$98,000-$9000

taxable income=$89,000

Find out more about taxable income on:brainly.com/question/11734493

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4 0
2 years ago
Suppose you invest $20,000 by purchasing 200 shares of Abbott Labs (ABT) at $50 per share, 200 shares of Lowes Companies, Inc. (
nikitadnepr [17]

Answer:

Portfolio return = 0.035 or 3.5%

Explanation:

The portfolio return is a function of the weighted average of individual stocks' returns that form up the portfolio. The formula to calculate the portfolio return is as follows,

Portfolio return = wA * rA  +  wB * rB  +  ...  +  wN * rN

Where,

  • w represents the weight of each stock in the portfolio
  • r represents the return of each stock

First we need to calculate the investment of each stock,

Abbott = 200 * 50 = $10000

Lowes = 200 * 30 = $6000

Ball = 100 * 40 = $4000

Portfolio return = (10000 / 20000) * -0.10  +  (6000/20000) * 0.20  +  

(4000/20000) * 0.125

Portfolio return = 0.035 or 3.5%

4 0
3 years ago
In a command economy, which of the following determines for whom goods and services are produced?
adoni [48]
The goverment. because the goverment is responsible for everything! :)
6 0
3 years ago
The following cost behavior patterns describe anticipated manufacturing costs for 2013: raw material, $7.60/unit; direct labor,
Advocard [28]

Answer: The answer is as follows:

Explanation:

Given that,

Raw material = $7.60/unit

Direct labor = $10.60/unit

Manufacturing overhead = $8.60/unit

(1) Unit cost under variable costing = Raw material + Direct labor + variable Manufacturing overhead

= 7.6 + 10.6 + 8.6

= 26.8

(2) Unit cost under absorption costing = Raw material + Direct labor + variable Manufacturing overhead + fixed Manufacturing overhead

= 7.6 + 10.6 + 8.6 + 8.6

= 35.4

5 0
4 years ago
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