Answer:
The option (b) 2.4 is correct.
Explanation:
We can find price elasticity of demand by using the formula shown in the attachment attached with.
Since we know the quantities of product associated with the market price of the product, by putting values in the equation we have:
Price elasticity of Demand =
= [(6000 - 4000) / (6000 + 4000)/2] / [(13 - 11) / (13+11)/2]
Price elasticity of Demand = 2.4
So this is how we can find the price elasticity of supply which says that the producers will respond to prices drop by producing lower quantity of product.
Answer:
-5/6
Explanation:
Fist find the common denominators of the two
Then you that minus sign in front of the fraction that means its negative
although theres an addition sign where subtracting fractions.
given it's in this order the fraction will be negative
:D
Answer:
(C) Product X = $880; Product Y = $2,240
Explanation:
The applied overhead will be calculate by the product of the cost diver and the overhead rate:
<u>Cost driver for each product:</u>
Product X 3MH and 1LH
Product Y 4MH and 8LH
<u />
<u>Overhead rate: </u>
240 per machine hour
and 160 per labor hour
Product X 3MH x $240 + 1LH x $160 = 880
Product Y 4MH x $240 + 8LH x $160 = 2,240
Answer:
geographically to encompass the 12 largest metropolitan and financial areas in the United States.
Explanation:
When the Federal Reserve District Banks were to be divided there were huge discussions on such division but it was later discovered that important places and cities should get their separate divisions.
Accordingly, it was divided into 12 segments which shall cover the most vital economic centres and the most needful shall be served first.
And thus, the metropolitan and financial centres of United States got their area specific divisions.
