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
Greeley [361]
3 years ago
7

The price elasticity of gasoline supply in the United States is 0.4. If the price of gasoline rises by​ 8%, what is the expected

change in the quantity of gasoline supplied in the United​ States?
A. ​3.2%
B. ​+ 0.32%
C. ​+ 32.0%
D. ​+ 3.2%
Business
1 answer:
Jet001 [13]3 years ago
8 0

Answer:

a

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

0.4 == quantity / 8  

3.2%

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.  

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.  

Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases  

Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.

You might be interested in
If a product makes it through a rigorous development process, will it be a sure success?
Otrada [13]
When it comes to this context, nothing is sure to be a success, so no
7 0
4 years ago
Read 2 more answers
Mark has long supported a particular brand of footwear and has always bought that brand.​ recently, the footwear manufacturer wa
lidiya [134]

What Mark is displaying is selective distortion. This term is used when individuals continue to interpret information in accordance to the belief that they are supporting.

In the example, even though the news have reported that his favorite shoe brand uses child labor to manufacture the brand’s shoes, Mark chooses to believe that the media is lying instead of accepting the report as true.

3 0
3 years ago
Read 2 more answers
You want to be a venture capitalist (you have a lot of money to invest in other business that needed money) and recently identif
vfiekz [6]

Answer:

Invest money yourself and start a small venture capital company.

Explanation:

Venture capital is business financing strategy for startups which require high investments but also have high risk. The returns for such business is also high due to the risk exposure. These business have potential to grow beyond expectations. The investments is made by a person in the company to give it rise because of its long term growth potential. The solar power generation have trend that is gaining significance so investing in such a business is intelligent move.

6 0
3 years ago
Shane wants to invest money in a 6% CD account that compounds semiannually. Shane would like the account to have a balance of $1
masya89 [10]

Answer:

Amount deposit = $118,411.4 (Approx.)

Explanation:

Given:

Future amount = $150,000

Rate of interest = 6% compounds semiannual

Number of year = 4 year

Find:

Amount deposit

Computation:

Compounds semiannual

So,

Rate of interest = 6% / 2 = 0.03

Time taken = 4 x 2 = 8 times

So,

A = P[1+r]ⁿ

150,000 = p[1+0.03]⁸

150,000 = p[1.03]⁸

150,000 = p[1.26677]

p = 150,000 / 1.26677

p = 118,411.393

Amount deposit = $118,411.4 (Approx.)

4 0
3 years ago
Other things held constant, which of the following actions would increase the amount of cash on a company's balance sheet? Group
Yakvenalex [24]

Answer:

The company issues new common stock.

Explanation:

As we know that the cash balance have the debit balance so if there is increase in cash balance so the balance would remain in debit itself

In the given choices, the company issues common stock which increases the cash balance and the journal entry is as follows

Cash Dr XXXXX

      To Common stock XXXXX

(Being the common stock is issued for cash)

And, the rest transactions shows the outflow of cash

6 0
3 years ago
Other questions:
  • Hanschu Inc. issues an $800,000, 10%, 10-year mortgage note on December 31, 2019, to obtain financing for a new building. The te
    11·1 answer
  • Why is looking at cash flow an important step in a good financial plan?
    11·1 answer
  • Two conditions allow a single seller to become a monopolist. those two conditions are that the firm must:
    14·1 answer
  • International Finance Problem Set on Working Capital Management1. Rossignol Co. manufactures and sells skis and snowboards in Fr
    12·1 answer
  • The distinction between supply and the quantity supplied is best made by saying that___________.
    9·1 answer
  • Internal users of accounting information include all of the following except A. investors. B. company officers. C. marketing man
    10·1 answer
  • Your product has been suffering from steadily eroding sales. You have tried a number of options to revitalize the product's sale
    8·1 answer
  • Sayon Co. issues 200,000 shares of $5 par value common stock to acquire Trask Co. in an acquisitionbusinesscombination. The mark
    9·1 answer
  • A sample of 40 individuals at a shopping mall found that the mean number of visits to a restaurant per week was 2.88 with a stan
    6·1 answer
  • Coronado, Inc. has 3500 shares of 4%, $50 par value, cumulative preferred stock and 70000 shares of $1 par value common stock ou
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!