Answer: (B) The price elasticity of demand for good Z = 0.86
Step-by-step explanation:
The formula for determining elasticity of demand by using the midpoint method is
(Q2 - Q1)/[(Q2 + Q1)/2] / (P2 - P1)/[(P2 + P1)/2]
Where
P1 is the initial price of the item.
P2 is the final price of the item.
Q1 is the initial quantity demanded for the item.
Q2 is the final quantity demanded for the item.
From the information given,
P1 = 10
P2 = 15
Q1 = 85
Q2 = 60
The price elasticity of demand for good Z = (60 - 85)/[(60 + 85)/2] / (15 - 10)/[(15 + 10)/2]
= (-25/72.5) / (5/12.5) = -25/72.5 × 12.5/5
= - 312.5/362.5 = - 0.86
Answer:
here is the answer
Step-by-step explanation:
hope it helps
Answer:
(2x - 3) ^2 - 11x - 6
Step-by-step explanation:
Answer:
yes this is correct
Step-by-step explanation:
Answer:
5 min person wit 10 min person
5 min person wit 20 min person and 5 min person back
5 min person wit 25 min person and 5 min person back
5 min person need to slow down ea. time
