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
algol [13]
3 years ago
13

When the price is $12 the quantity demanded is 50. When the price increases to $24 the quantity demanded decreases to 30. Calcul

ate the price elasticity of demand.
Business
1 answer:
Allushta [10]3 years ago
6 0

Answer:

PED = -0.4 or |0.4| in absolute terms

Explanation:

price elasticity of demand (PED) = % change in quantity demanded / % change in price

  • % change in quantity demanded = [(30 - 50) / 50] x 100 = -40%
  • % change in price = [($24 - $12) / $12] x 100 = 100%

PED = -40% / 100% = -0.4 or |0.4| in absolute terms

the demand is price inelastic since |0.4| < 1

this means that the change in quantity demanded is proportionally less than the change in price.

You might be interested in
We can measure the complexity of an algorithm that solves a computational problem by determining the number of ________ for an i
Vlad [161]
<span><span>It is the Computation complexity theory in which</span> we can measure the complexity of an algorithm that solves a computational problem by determining the number of elementary steps for an input of size n.</span> Complexity is a numerical function T(n), time versus the input size n. this theory is the branch of theory of computation. <span> </span>
3 0
3 years ago
Read 2 more answers
Maria wants to be a teacher when she graduates from college and hopes to marry another teacher so they can get their summers off
Zigmanuir [339]

Answer:

b

Explanation:

6 0
3 years ago
Read 2 more answers
The Federal Reserve wants to change the nominal interest rate from 7% to 5%. What action
alisha [4.7K]

Answer:

the answer is a

Explanation:

i just took the usatestprep

6 0
3 years ago
The sale of a new brand of flavored water, taste funny, soared after it was used in many scenes in the latest blockbuster action
alexgriva [62]
Classical conditioning, in psychology, is when you are self-conditioned by an active stimulus. This means that your perspective on a thing is influenced by how people respond to it. In this case, many people would watch a blockbuster action movie. Depending on how it was used, people will be curious and tend to think that that flavored water must be really delicious based on how the actor responded to it.
4 0
3 years ago
The long run is best defined as a time period during which at least one input cannot be changed. during which all inputs can be
Olegator [25]

Answer:

The long run is best defined as a time period

  • during which all inputs can be varied.

One thing that distinguishes the short run and the long run is

  • the existence of at least one fixed input.

Explanation:

On the long run, all productive inputs can be changed and/or altered. that includes fixed costs like equipment and machinery, building facilities, processes, wages, etc.

On the short run, at least one of the inputs used to produce our goods or services cannot be changed, e.g. wages tend to be sticky, fixed costs (depreciation of equipment and machinery, buildings, etc.)

7 0
4 years ago
Other questions:
  • Which motivation theory might explain one’s need for financial security?
    8·1 answer
  • dentify the purpose of a transaction processing system used in organizations. to handle day-to-day business event data at the op
    11·1 answer
  • A certificate of ownership in a corporation is called
    12·1 answer
  • earned net sales revenue of $62,000,000 in 2016. Cost of goods sold was $41,540,000​, and net income reached $9,000,000​, the​ c
    14·1 answer
  • By how much does GDP rise in each of the fol- lowing scenarios? Explain. (a) A computer company buys parts from a local distribu
    11·1 answer
  • Investing. once a riskier action, has become more stable and inviting since many American companies are now moving to internatio
    5·1 answer
  • When will the Social Security fund dry up at its current level? When will the Social Security fund dry up at its current level?
    11·1 answer
  • Marvin, the vice president of Lavender, Inc., exercises a stock option to purchase 100 shares of stock in March 2020. The stock
    6·1 answer
  • The entity set person is classified as student and employee. This process is called _________.
    6·1 answer
  • Which individuals helped pioneer administrative management theory?
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!