The price elasticity of demand of the pen will be -0.2.
<h3>How to compute the elasticity?</h3>
The demand and supply schedule will be:
Price Qd. Qs
$10. 250. 100
$20. 200. 90
$30. 180. 80
The price elasticity of demand from $1 to $2 will be:
= Percentage change in quantity demanded/percentage change in price
Percentage change in quantity demanded will be:
= (200 - 250)/250 × 100
= -20%
Percentage change in price will be:
= (20 - 10)/10 × 100
= 100%
Therefore, the elasticity of demand will be:
= -20/100
= - 0.2
The value gotten illustrates an inelastic demand.
In order to increase the total revenue, the price can be reduced as it will lead to more sales.
Learn more about PED on:
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<u>Complete question:</u>
Choose any product or service. Create the demand and supply schedule.
Calculate just one PED.
Is the demand elastic or inelastic?
What price change would you recommend to increase TR?
A) profit/original price x100 =percentage profit
(Profit: 360-300=$60)
=60/300 x100
=20%
b) two cameras (original price): 300x2= $600
two cameras (price sold): 360x2 = $720
Profit without discount: 720-600= $120
120-100= $20 discount
20/720 x100 =2.78%
F(x) = 3x^32 + 8x^2 -22x +43
The ends of all the polynomials with even degree behave like quadratic functions.
Given the the coefficient of x^32 is positive, the function opens upwards. Then the two ends go up.
One half subtracted by one fourth is one fourth.
1/2 - 1/4 = 1/4
