1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Wewaii [24]
2 years ago
11

Suppose that the price of good X rises from $12.00 to $12.90, and as a result the quantity demanded of good X falls from 5,000 u

nits to 4,600 units. The (absolute value of) price elasticity of demand for good X is ___________________, indicating that good X is price ___________________. This increase in price caused total revenue to ________.
Business
1 answer:
ivann1987 [24]2 years ago
5 0

Answer:

The price elasticity of demand is 1.14.

The price is Elastic.

Elasticity is more than one so total revenue will fall.

Explanation:

Given the initial price of good x = $12

Final price of good x = $12.90

% change in price = [(12.90 - 12) / 12] x 100 = 7.5 %

Initial quantity = 5000

Final quantity = 4600

% change in quantity = [(4600 - 5000)/5000] x 100 = -8%

Elasticity = % change in quantity / % change in price

Elasticity = 8% / 7%

Elasticity = 1.14

The price elasticity of demand is 1.14.

The price is Elastic.

Since elasticity is more than one so total revenue will fall.

You might be interested in
Janie has a joint account with her mother with a balance of $562,000. Based on $250,000 of Federal Deposit Insurance Corporation
vaieri [72.5K]

Answer:

$31,000

Explanation:

Given:

Janie holds joint account with her mother that has a balance of $562,000. They are covered up to $250,000 each under Federal Deposit Insurance Corporation.

It is assumed by FDIC that all co-owners' shares are equal.

So, Janie's share in the balance = 562,000 ÷ 2

                                                       = $281,000

Amount insured = $250,000

Uninsured amount = 281,000 - 250,000

                               = $31,000

Therefore, Janie's savings worth $31,000 will not be covered by deposit insurance.

4 0
3 years ago
What are the four types of data analytical method?.
Monica [59]

Answer:

<em>There are four types of analytics, </em>

  • <em>Descriptive, </em>
  • <em>Diagnostic,</em>
  • <em>Predictive, </em>
  • <em>Prescriptive.</em>
6 0
2 years ago
Read 2 more answers
Key West To Go, located in Key West, Florida, builds and sells scooters. These are sold to several local shops in the area, who
beks73 [17]

Answer:

d. 42.90 hours

Explanation:

y = aQᵇ

y = average time to produce one more unit

a = the time it took to produce the first unit

Q = cumulative production

b = learning rate = [(log learning rate in %) / log 2] = -0.152003093

learning rate in % = 10.8 / 12 = 0.9 = 90%

cumulative quantity             average hours per unit               total hours

1                                                    12                                               12

2                                                   10.8                                            22.8

3                                                   10.38                                          33.18

4                                                   12 x 4⁻⁰°¹⁵²⁰⁰³⁰⁹³ = 9.72            42.90

3 0
3 years ago
Lynx Corp. The data presented below for Lynx Corp. are for the year ended December 31, 2017: Sales (100% on credit) $1,000,000 S
Yakvenalex [24]

Answer:

Hi how are you doing today Jasmine

4 0
3 years ago
Read 2 more answers
In addition to using anti-virus software and firewalls, accountants should
Pachacha [2.7K]

Accounting professionals should save backup files in a location outside of the system in addition to utilizing anti-virus software and firewalls to guard against infections.

<h3><u>Describe antivirus software.</u></h3>

Hence the name, antivirus software was initially created to identify and eliminate computer infections. Antivirus software, however, began to offer protection against additional computer risks as new malware proliferated.

Modern antivirus software, in particular, can shield users from harmful browser helper objects (BHOs), browser hijackers, ransomware, keyloggers, backdoors, rootkits, trojan horses, worms, malicious LSPs, dialers, fraud tools, adware, and spyware.

Some systems additionally offer defense against other types of computer threats, including spam, phishing, scam, and malware-infected URLs, as well as assaults on online banking, social engineering, online identity (privacy), and advanced persistent threat (APT) and botnet DDoS attacks.

Learn more about antivirus software with the help of the given link:

brainly.com/question/2864789

#SPJ1

4 0
1 year ago
Read 2 more answers
Other questions:
  • some companies, such as alphabet, have created classes of stock with no voting rights at all. why would investors buy such stock
    14·1 answer
  • Jameson Company uses average cost and a perpetual system. On January 1, the company had 600 units of inventory at an average cos
    5·2 answers
  • The business judgment rule provides corporate officers and directors protection when Multiple Choice the liability is a result o
    11·1 answer
  • Which marketing mix element deals specifically with retailing and marketing channel management?
    8·1 answer
  • The collaborative approach to conflict resolution encourages trust and assertive behaviors, fosters empowerment, and works best
    6·1 answer
  • A client presents with chief complaints of unexplained weight gain and back pain from a compression fracture of the vertebrae. O
    8·1 answer
  • A registered representative sells 1,000 shares of ABC for a customer at $30 per share, the current market price, with instructio
    15·1 answer
  • When comparing short-run average total cost with long-run average total cost at a given level of output, a. short-run average to
    7·1 answer
  • A corporation borrowed money from a bank to build a building. The long-term note signed by the corporation is secured by a mortg
    8·1 answer
  • The method of cost estimating that falls between the other two cost estimating methods in complexity is the __________ method.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!