Answer:
23.125
Step-by-step explanation:
7/8= 0.875
24-0.875=23.125
Answer:
The price elasticity of demand is -10
Step-by-step explanation:
Given


Solving (a): The coefficient of price elasticity of demand (k)
This is calculated as:

So, we have:



<em>Because |k| > 0, then we can conclude that the company made a wise decision.</em>
Answer: 
Step-by-step explanation:

Add
on both sides and subtract
on both sides to leave x's on the left side and independent values on the right.


Solve the fractions.





Convert the mixed fraction
to an improper fraction. You can do this by multiplying 1 times 35 and adding 2.

Now use the reciprocal (inverse fraction) and multiply on both sides to isolate x.




It is 6 because 6x6x6=216