The correct answer is 2.4.
The simplest way to define elasticity of demand is by using the following formula:
Elasticity of Demand = Change in Demand / Change in Prices
Then, in our question we have:
Demand Elasticity = 12% / 5% = 2.4
Why is it called elasticity of demand?
An elastic product is one in which demand significantly shifts in reaction to price fluctuations. In other words, the product's demand point has expanded significantly from its earlier point. It is inelastic if the amount purchased fluctuates little when the price of the good or service changes.
What Does elasticity of demand tells us?
It reveals how much the quantity needed alters in response to pricing changes made by the company. The price elasticity of demand explains how the amount sought in the market changes when the price changes if we are evaluating a market demand curve.
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Answer:
A.Off grid homes
Explanation:
Specific type of insurance policy covers the most common perils except those specifically excluded perils such as earthquake, flood, nuclear disaster, landslide.
OFF GRID HOMES refer to homes which are self-sufficient without reliance on modern technology and public utilities. That means that this homes do not have access to electricity, gas, water, etc.
Therefore, these homes can be insured by a specific type of insurance policy.
Answer:
30.77%
Explanation:
The computation of the gross profit margin is shown below:
Gross profit margin = (Gross profit ÷ Sales) × 100
where,
Gross profit would be
= Sales - costs of goods sold
= $52,000,000 - $36,000,000
= $16,000,000
And, the sales is $52,000,000
Now add these values to the formula above
So, the ratio would be equal to
= ($16,000,000 ÷ $52,000,000) × 100
= 30.77%
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<h3>What is TABS Data?</h3>
A TAB file is a data file created by Typinator, a typing shortcut program for macOS. It contains a set of typing abbreviations and their associated words added by users.
<h3>What do tabs cost?</h3>
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