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VladimirAG [237]
3 years ago
5

PLEASE HELP ME!

Business
2 answers:
cestrela7 [59]3 years ago
8 0
If I'm not mistaken the answer is B - demographics
Andrei [34K]3 years ago
8 0

Answer:

c

Explanation:

values

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In July 2008, the average price of gasoline in the United States was $4.09 per gallon and consumers bought 6 percent less gasoli
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Answer:

PED= 0.1571

Explanation:

The price elasticity of demand (PED) indicates how the quantity demanded change when the price changes. Is defined by this equation:  

Price Elasticity of Demand = Percentage change in Q/ Percentage change in P  

In this case, the problem is giving percentage changes in Q but we must calculate the percentage change in price:

%Change in price = ( p2-p1/p1)*100= ($4.09-$2.96)/$2.96= 0.3817*100=38.17%

%Change in quantity is= -6%

PED= -6%/38.17%

In absolute value:

PED= 0.1571

If the PED is less than 1 then gasoline is considered as inelastic.

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What fundamental question relates most directly to consumer sovereignty?
AURORKA [14]

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