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Nezavi [6.7K]
3 years ago
13

Assume the price elasticity of demand (Ed) is 0.4 for gasoline in the long run. Some argue that we need a 50% reduction in gasol

ine consumption to be sustainable. What percentage price increase would reach that goal of 50% reduction in consumption
Business
1 answer:
dybincka [34]3 years ago
7 0

Answer:

125%

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

Let x = percentage change in price

o.4 = 50 / x

x = 125

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Wen, a consumer researcher, is conducting a research on the buying behavior of the hispanics. as part of her study, she calculat
andrew-mc [135]

Wen, a consumer researcher, is conducting a research on the buying behavior of the hispanics. as part of her study, she calculates a consumer's buying power by relating it to the consumer's income. the consumer attributes that wen employs in her research can best be described <u>demographics.</u>

4 0
3 years ago
The Constitution expressly grants which of the following powers to Congress? a. to receive ambassadors b. to appoint judges c. t
lbvjy [14]

Answer:

d. to regulate interstate commerce

Explanation:

The United States Constitution has the commerce clause in Article 1 Section 8 which allows the Congress to control the commerce with other nations and among the states.

According to this clause, the Congress can regulate the commerce that takes place between states and because of that, the answer is that the  Constitution expressly grants the power to regulate interstate commerce to Congress.

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3 years ago
Assume that three weeks before you and Lester are supposed to close your deal for the sale a twenty-acre tract of land, Lester c
Margaret [11]

Answer:

The answer is C

Explanation:

8 0
3 years ago
In many developing countries, the majority of citizens make their living through microenterprises- informal, tiny businesses tha
natita [175]

Answer:

The company provides micro financial services to poor and the needy people having no access to regular banking services

This helps to boost small businesses and financial inclusion which are heart of any economy and vital to the economy and promoting growth.

Possible measures taken by the organization includes providing funds for at lower interest rates and providing credit services. Subsidized credit to deficient areas increases productivity and employment growth by means of boosting the small and medium-sized enterprises.

This may work in poor communities in United States. However in united schemes there are lots of other governmental schemes such as coupons, free food etc program are already running.

However, these programs are also carrying a potential here. But there potential is much greater in poor countries having less developed banking and financial reach.    

Explanation:

6 0
3 years ago
Devin is a landscaper who needs to prepare different types of grass seed for his customers' yards. Bluegrass seed costs $2.00 pe
IgorLugansk [536]

Answer:

7 pounds

Explanation:

To solve this we need to use simultaneous algebraic equations.

Assume

x  = 1 pound of bluegrass seed

y = 1 pound of drought resistant seed

Our first equation considers the number of pounds

x + y = 25

y = 25 - x

For the combined bluegrass seeds and thought resistant seeds bought

For the second equation we consider the price

2x + 3y = 68

Substitute value of y in equation 2

2x + 3(25 - x) = 68

2x + 75 - 3x = 68

x= 7

So the amount of bluegrass seed is 7

We can also get the amount of drought resistant seed from equation

7 + y = 25

y = 18

3 0
3 years ago
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