The price elasticity of demand of the pen will be -0.2.
<h3>How to compute the elasticity?</h3>
The demand and supply schedule will be:
Price Qd. Qs
$10. 250. 100
$20. 200. 90
$30. 180. 80
The price elasticity of demand from $1 to $2 will be:
= Percentage change in quantity demanded/percentage change in price
Percentage change in quantity demanded will be:
= (200 - 250)/250 × 100
= -20%
Percentage change in price will be:
= (20 - 10)/10 × 100
= 100%
Therefore, the elasticity of demand will be:
= -20/100
= - 0.2
The value gotten illustrates an inelastic demand.
In order to increase the total revenue, the price can be reduced as it will lead to more sales.
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<u>Complete question:</u>
Choose any product or service. Create the demand and supply schedule.
Calculate just one PED.
Is the demand elastic or inelastic?
What price change would you recommend to increase TR?
Answer: 72250 dollars
Step-by-step explanation:
Just divide 289000 by 4 and you get 72250 dollars
Answer:
7:5
Step-by-step explanation:
a:b=4:5
a:c=2:7
c:b=7:5
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Answer:
D
Step-by-step explanation:
The equation of a line in slope- intercept form is
y = mx + c ( m is the slope and c the y- intercept )
Calculate m using the slope formula
m = 
with (x₁, y₁ ) = (- 4, 29) and (x₂, y₂ ) = (0, 28) ← 2 ordered pairs from the table
m = 
= - 
The line crosses the y- axis at (0, 28 ) ⇒ c = 28
y = - x + 28 ← equation of line → D
The relationship between the two variables is inverse proportionality, that is, the greater the number of people, the less the amount of money earned.
Since visitors to a carnival are invited to guess the number of beans in a jar, and the person who guesses the correct number wins $ 300, but if multiple people guess correctly, the prize will be divided evenly among them, to determine what is the relationship between the number of people who guess correctly and the amount of money each person will recieve the following logical reasoning must be performed:
Since the prize is a fixed number, 300, it is a value that will not change. In turn, the more people who have guessed right, the lower the amount of money that each of them will win (because the number 300 will be divided by a greater number).
Therefore, the relationship between the two variables is inverse proportionality, that is, the greater the number of people, the less the amount of money earned.
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