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Anon25 [30]
3 years ago
5

The Acmeville Metropolitan Bus Service currently charges $ 0.67 for an all-day ticket, and has an average of 472 riders a day. T

he bus company is not earning a profit, but according to their contract with the city, they cannot cut the number of buses on the road. They must therefore find a way to increase revenues. The bus company is considering increasing the ticket price to $ 0.78 . The marketing department's studies indicate this price increase would reduce usage to 182 riders per day. Calculate the absolute value of the price elasticity of demand for bus tickets using the simple percentage change method. Round your answer to one decimal place.
Business
1 answer:
Otrada [13]3 years ago
6 0

Answer:

The price elasticity of demand is -3.7

Explanation:

Price Elasticity of demand measure the responsiveness of demand against the change in price of the product.

Simple percentage method calculate the price elasticity by taking ratio of percentage change in Demand to percentage change in price of the product.

Percentage change in Demand = ( Revised demand - Initial demand ) / Initial demand  

Percentage change in Demand = ( 182 riders - 472 riders ) / 472 riders = -0.6144 = -61.44%  

Percentage change in Price = ( Revised Price - Initial Price ) / Initial Price  

Percentage change in Price = ( $0.78 - $0.67 ) / $0.67 = 0.1642 = 16.42%

Price Elasticity = Percentage change in Demand / Percentage change in price

Price Elasticity = -61.44% / 16.42% = -3.74 = -3.7

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Lelu [443]

Answer and explanation:

<em>Language </em>and <em>culture </em>affect directly in people's communication. Somebody who grew up in the jungle surrounded by its people is likely to have an open way of communicating with others since that individual has grown up within a society that is in great part his or her family. On the other hand, someone who is raised in a metropolis is likely to be more careful while communicating with others since that person is more exposed to different people with different cultures that react differently to situations.

5 0
3 years ago
Millcorp sells wetsuits for deep sea divers. It recently engineered a new material for its wetsuits to better hold in the wearer
spin [16.1K]

Answer:

B) Millcorp has a lawful innocent acquisition of a monopoly.

8 0
3 years ago
Read 2 more answers
A monopolistically competitive industry is characterized by a. many firms selling products that are similar but not identical. b
UNO [17]

Answer:

A monopolistically competitive industry is characterized by

a. many firms selling products that are similar but not identical.

Explanation:

A monopolistic competition is a form of imperfect competition with many firms operating in the industry.  For such an industry, the goods or services are differentiated, such that one firm's goods or services can easily be associated with the producer.  This is mostly achieved through branding and the use of trademarks.  Each firm, therefore, competes with many other competitors, but they limit their competition by differentiating their products so that consumers would have preference for one against the other, depending on their perceived value.

7 0
3 years ago
Bebe Rexha has AGI of $100,000 and makes the following expenditures:
shutvik [7]

Answer:

$31000 will be allowed as expenditure

Explanation:

given data

Wheelchair  = $10,000

Whirlpool bath = $10,000

Maintenance =  $1,000

Increased utility bills =  $1,000

various home modifications = $10,000

solution

as here value of the home increased =  $1000

and that is  increaed utility bill of the whirlpool

so that expenditure will be added to value of asset

so  

total expenditure is = $10000 + $10000 + $10000 + $1000 =  $31000

so $31000 will be allowed as expenditure

7 0
3 years ago
Minden, Mel, and Montana decide to liquidate their partnership. All assets are sold, and the liabilities are paid. Following the
Leto [7]

<u>Answer:</u>

The amount of cash that will be received by Montana is $37000.

<u>Explanation:</u><u> </u>  

                                                 Minden           Mel       Montana

Profit sharing ratio                                 30%             40%            30%

Balances                                                 27000       -12000    43000

Deficiency distrubuted                           -6000      12000    -6000

Cash received by partners                    21000           0            37000    

Minden and Montana have to contribute in their

profit sharing ratio (30% and 30%), i.e., equally.

Therefore, the amount of cash that will be received by Montana is $37000.

4 0
3 years ago
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