Answer:
0.18
Step-by-step explanation:
Given that:
P₁ = $10, P₂ = $20
From the tables Q₁ = 900, Q₂ = 800
Using midpoint method:
Percentage change in quantity =
Percentage change in price =
Price of elastic demand = Percentage change in quantity/ Percentage change in price = -11.76% / 66.67% = 0.18
The Price of elastic demand is positive because we took the absolute value and elasticity are always positive
Therefore since Price of elastic demand < 1, the demand is inelastic in this interval.
This means that, along the demand curve between $10 to $20, if the price changes by 1%, the quantity demanded will change by 0.18%. A change in the price will result in a smaller percentage change in the quantity demanded. For example, a 10% increase in the price will result in only a 1.8% decrease in quantity demanded and a 10% decrease in the price will result in only a 1.8% increase in the quantity demanded
Step-by-step explanation:
The difference between 118.419 and 6.74 is
= 111.679
Hope it helps
The answer really depends on what b is. Unless you give me a number for what b equals I can’t solve it.
Answer:
40
Step-by-step explanation:
The denominators are 4, 5, and 8.
Write the prime factorizations:
4 = 2²
5 = 5
8 = 2³
To find the least common denominator, multiply the prime numbers with the highest exponents.
2³ × 5 = 40
5 9/10 .........................................