Answer:<u> -0.9 ; inelastic</u>
Explanation:
Given:
The average price of wheat per metric ton in 2012 = $305.75
Demand (in millions of metric tons) in 2012 = 672
The average price of wheat per metric ton in 2013 = $291.56
Demand (in millions of metric tons) in 2013 = 700
We will compute the elasticity using the following formula:
ε = 
ε = 
Now , we'll first compute 
i.e. = 
= 0.04081
Similarly for 
i.e. = 
= -0.0475
ε = 
ε = -0.859 
-0.9
we know that ;
If, ε > 1 ⇒ Elastic
ε < 1 ⇒ Inelastic
ε = 1 ⇒ unit elastic
<u><em> Here , ε = -0.859 -0.9 </em></u>
<u><em>Therefore ε is inelastic.</em></u>
Answer:
28.26
Step-by-step explanation:
Given,
Radius of the circle = 3in.
Area = ?
They have told us to use 3.14 for 
Area formula = 
=> 3.14 * 3 * 3
=> 3.14 * 9
=> 28.26
Therefore the area of the circle is 28.26
Hope it helps :)
Answer:
-15°C.
Step-by-step explanation:
They tell us that the temperature dropped 3 ° C every hour, therefore, the temperature change every hour = -3 ° C
They also tell us the total number of hours during which the temperature was changed = 5,
We have to:
The total change in temperature = change over an hour * total number of hours:
TC = - 3rd * 5
TC = -15 °
Then we can affirm that the integer representing the temperature change is -15 ° C.
Answer:
In order to minimize cost the outlet must order 60 units 15 times a year.
Explanation:
Theoretically, the EOQ is the optimal order quantity that a firm should purchase in order to minimize its inventory costs (holding costs are included here), and costs of placing an order.
Mathematically:
EOQ= 
Where:
D= demand
S= cost of placing an order.
H= holding cost (per unit and per year).
In the statement, we identify each of these values:
D= 900
S= 4
H= $2
EOQ= =√2*4*900/2= 60
Times per year= 900/60= 15
Answer:
-2x-17
Step-by-step explanation:
