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
NARA [144]
3 years ago
7

One of the growers is excited by the price increase caused by the blight because he believes it will increase revenue in this ma

rket. As an economics student, you can use elasticities to determine whether this change in price will lead to an increase or decrease in total revenue in this market.Using the midpoint method, the price elasticity of demand for soybeans between the prices of
Business
1 answer:
Nat2105 [25]3 years ago
8 0

Full question attached

Answer:

Not elastic

Explanation:

The formula for demand elasticity= percentage change in quantity/percentage change in price

Therefore demand elasticity = Q2-Q1/Q2+Q1/2/P2-P1/P2+P1/2

Using graph of demand attached

= 12-15/12+15/2/21-15/21+15/2

= -3/27/2/6/36/2

=-2/9/1/3

=-2/3

=-0.67

Elasticity is less than one and so demand is inelastic

You might be interested in
6
TEA [102]

Answer: Four pies.

Explanation:

Marginal cost is the additional cost of producing one extra unit of a good or service.

From this graph we see the marginal cost rise when the first pie is produced and then it subsequently decreases as the second and third pie is produced which is where it reaches its lowest point.

From the fourth pie, the marginal cost begins to rise again which means the marginal cost begins to increase when the producer makes four pies.

3 0
3 years ago
The employees of Pi's Pizza, a local pizza restaurant, feel that the owners and managers really try to follow the ethical polici
vfiekz [6]

Answer:

c. ethical climate.

Explanation:

<em>Ethical Climate is the moral atmosphere that domains and is practiced by a company in a work environment. </em>

I hope you find this information useful and interesting! Good luck!

6 0
4 years ago
Capital allocation line is _______________ Question 18 options: plot of risk-return combinations available by varying portfolio
NemiM [27]

Answer:

plot of risk-return combinations available by varying portfolio allocation between a risk-free rate and a risky portfolio

Explanation:

The capital allocation line (CAL) is called as the capital market line tha developed on the graph for all the expected combinations related to the risk-free and risk assets. In this, the graph presented the return investor that expected earn by assuming the particular level of risk along with the investment

Therefore the first option is correct

7 0
3 years ago
The cost of goods sold for Frye Manufacturing in the year was $ 325 comma 000 . The January 1 Finished Goods Inventory balance w
zheka24 [161]

Answer:

$318,400

Explanation:

Cost of Goods Sold                              $325,000

Less: Inventory Opening January 1        ( $ 31,800)

Add;Closing Inventory                               $25,200

Cost of Goods Manufactured                    $318,400

The cost of goods sold are found out by adding opening stock and deducting closing stock from cost of goods manufactured.

In the given scenario we had to follow reverse order to reach out at amount of cost of goods manufactured.

4 0
3 years ago
Read 2 more answers
Aggregate supply (as) denotes, while holding the price of inputs fixed, the ________ that firms choose to produce and ________.
Sedbober [7]

Aggregate supply (as) denotes, while holding the price of inputs fixed, the <u>price level of output</u> that firms choose to produce and <u>GDP.</u>

<h3>What is aggregate supply?</h3>

Aggregate supply is when goods and service produced or manufacture are made available to buyers  or can be defined as the amount of goods produce and supply to the market at particular period of time.

Aggregate supply can tend to increase in a situation were the price of goods and services decrease or when the price of product fall.

Therefore, Aggregate supply donate, while holding the price of inputs fixed, the price level of output that firms choose to produce and Gross domestic product (GDP).

Learn more about Aggregate supply here:brainly.com/question/11889136

brainly.com/question/25749867

#SPJ1

6 0
2 years ago
Other questions:
  • Preston Products provides the following data for the year: Actual production and sales for the year 195 units Budgeted productio
    10·2 answers
  • N industry consists of three firms with sales of $360,000, $650,000, and $265,000.
    11·1 answer
  • Record journal entries for the following transactions. (a) On December 1, $18,000 was received for a service contract to be perf
    13·1 answer
  • The standard costs and actual costs for direct materials for the manufacture of 1,910 actual units of product are as follows: St
    8·1 answer
  • According to the terminology associated with changes in currency values, which of the following choices is the case when a curre
    6·1 answer
  • The Computer Fraud and Abuse Act of 1986: Select one: a. Generally makes it a misdemeanor to access a computer without proper pe
    7·1 answer
  • Caroline, the store manager at a jewelry store, conducts statewide market research and collects data on customer preferences tow
    12·1 answer
  • The West Division of Cecchetti Corporation had average operating assets of $240,000 and net operating income of $42,200 in Augus
    10·2 answers
  • You are working at the campus bookstore, earning $9.00 per hour. Your manager tells you that in the upcoming year, you will get
    6·1 answer
  • Chick-fil-a released a statement to explain their partnership with Thrive Coffee and how the company is working to support local
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!