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
Anna007 [38]
2 years ago
7

When the price of paintings is set at $500, the local art gallery supplies 20 paintings per week. When the price of paintings in

creases to $750, the gallery supplies 25 paintings. Calculate the price elasticity of supply using the mid-point formula. Instructions: Round your answer to two decimal places. If you are entering a negative number be sure to include a negative sign (-) in front of that number. The price elasticity of supply is: .
Business
1 answer:
Rudiy272 years ago
4 0

Answer:

the  price elasticity of supply is 0.555

Explanation:

The computation of the price elasticity of supply is given below:

= Percentage change in quantity supplied ÷ percentage change in price

= (25 - 20) ÷ (25 + 20) ÷ 2 ÷ (750 - 500) ÷ (750 + 500) ÷ 2

= 5 ÷45 ÷ 250 ÷ 125

= 0.555

Hence, the  price elasticity of supply is 0.555

The same is relevant

You might be interested in
You are considering starting a sandwich shop, but are comparing that to the idea of staying at your current job instead. Which e
egoroff_w [7]

The principle of opportunity cost is taken into consideration when considering starting a sandwich shop, but are comparing that to the idea of staying at your current job.

<h3>What is opportunity cost?</h3>

It is the value or benefit loss when an alternative is selected. The value of the job or product to be dropped will be given up to choose something else.

Therefore, the principle of opportunity cost is taken into consideration when considering starting a sandwich shop, but are comparing that to the idea of staying at your current job because of the benefits that will be forgone in the current Job.

For more details on opportunity cost kindly check

brainly.com/question/1549591

6 0
2 years ago
Standard Direct Materials Cost per Unit Crazy Delicious Inc. produces chocolate bars. The primary materials used in producing ch
svetoff [14.1K]

Answer:

Crazy Delicious Inc.

The standard direct materials cost per bar of chocolate is:

= $0.21.

Explanation:

a) Data and Calculations:

A batch of chocolate = 1,800 bars

Ingredient    Quantity    Price                   Total Cost

Cocoa            480 lbs.   $0.30 per lb.       $144.00

Sugar             150 lbs.    $0.60 per lb.          90.00

Milk                120 gal.    $1.20 per gal.       144.00

Total standard materials costs                $378.00

Standard direct materials cost per bar       $0.21 ($378/1,800)

b) The standard direct materials cost per bar is computed as the dividend of total direct material costs per batch divided by the batch quantity.

5 0
3 years ago
The Office of Management and Budget and the Council of Economic Advisers are both parts of the ________.
7nadin3 [17]

Answer:

The correct answer is "Executive office of the president"

Explanation:

The Executive Office of the President of the United States (EOP) is a gathering of agencies belonging to the executive branch of the government of the United States of America. The principal function is to support the president works.

The Office of Management and Budget and the Council of Economic Advisers are part of the EOP.

5 0
3 years ago
Relationship between risk and return
Svetlanka [38]

Answer:

Generally, the higher the potential return of an investment, the higher the risk. There is no guarantee that you will actually get a higher return by accepting more risk. Diversification enables you to reduce the risk of your portfolio without sacrificing potential returns.

7 0
3 years ago
The systems that are used to interact with customers and run a business in real time are called ________. A) tactical systems B)
IceJOKER [234]

Answer:

C) operational systems.

Explanation:

This is been said to explain the the transactions that are been carried out in an organisation strictly on a daily basis. In many cases, it is seen to be tagged or called data warehousing. As seen in data warehousing where data cleaning, its integration and also its consolidation which is seen to be done by the means of integrating data and also by several heterogeneous sources that aid or enhances the analytical reporting and also decision making. All these courses are been applied to assist or in formation for a resourceful or productive business intelligence.

4 0
3 years ago
Other questions:
  • Rodgers Inc. is imports paper from Shanghai China. In a typical transaction Rodgers receives a delivery of paper from the Chines
    10·1 answer
  • Compared to commercial banks, finance companies usually signal solvency and safety concerns by
    7·1 answer
  • A __ is usually one of the first things a prospective employer sees when you apply for a job, so it is important to highlight yo
    10·1 answer
  • At the end of the year the production manager is taking inventory and finds 600 units of an older model of invisible fencing tha
    7·1 answer
  • A company purchases shipments of machine components and uses this acceptance sampling plan: Randomly select and test 26 componen
    14·1 answer
  • Suppose that Eleanor receives higher pay at her workplace than her colleagues do, even though they perform essentially the same
    12·2 answers
  • Help! Which tasks commonly are performed in Management and Entrepreneurship jobs? Check all that apply.
    5·2 answers
  • Free brainly anyone wants one ??
    15·2 answers
  • What economic goal does the Securities and Exchange Commission (SEC) help the government achieve the most
    12·1 answer
  • Use the data in P 13-5 for Prince Company. Assume that the stock price per share is $ 28 and that dividends in the amount of $ 3
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!