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xz_007 [3.2K]
3 years ago
12

Answers at the beginning of this year, daily consumption of gasoline in the us amounted to 344 million gallons. it is estimated

that for every 10% increase in the price of gasoline, quantity demanded falls by 2.30%. by the end of this year, the price of gasoline is expected to increase by 40 cents from $2.80 per gallon. based on this information, what is the expected quantity demanded for gasoline at the end of this year? please specify your answer to one decimal place.
Business
1 answer:
miv72 [106K]3 years ago
6 0
<span>332.7 million gallons. First calculate the percentage increase in price of gasoline. 0.40 / 2.80 = 0.142857 = 14.2857% Now divide by the 10% to get the number of multiples of 10% the price increased by 14.2857% / 10% = 1.42857 Now multiply that by the percent decrease in demand 1.42857 * 2.30% = 3.29% So it looks like there will be a 3.29% decrease in demand due to the higher price. So calculate the expected amount of gasoline demand. 344 * (100% - 3.29%) = 344 * (96.71%) = 344 * 0.9671 = 332.7 So the expected demand after a price increase of 40 cents per gallon is 332.7 million gallons.</span>
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Answer:

Select the answer that best describes the strategies in this game.

  • Both companies dominant strategy is to add the train.

Does a Nash equilibrium exist in this game?

  • A Nash equilibrium exists where both companies add a train. (Since I'm not sure how your matrix is set up I do not know the specific location).

Explanation:

we can prepare a matrix to determine the best strategy:

                                                  Swiss Rails

                                     add train             do not add train

                                    $1,500 /             $2,000 /

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EuroRail

      do not add train    $4,000 /             $3,000 /

                                               $2,000                $3,000

Swiss Rails' dominant strategy is to add the train = $1,500 + $4,000 = $5,500. The additional revenue generated by not adding = $5,000.

EuroRail's dominant strategy is to add the train = $4,000 + $7,500 = $11,500. The additional revenue generated by not adding = $5,000.

A Nash equilibrium exists because both companies' dominant strategy is to add a train.

7 0
3 years ago
Stimpleton Company engages in the following cash payments:
choli [55]

Answer: Option A

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Thus, only payment of rent and workers salary will be considered operating activities and the company will be having total of $1750 of cash outflow.

Hence the correct option is A.

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So, the units started and completed is

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