Earnings of workers are typically decreased by

Suppose that during the past year, the price of a laptop computer rose from $2,750 to $2,880. During the same time period, consu

icang [17]

Answer: Elasticity of demand is 7.06

Explanation:

P1= $2,750

P2=$2,880

Q1=446,000

Q2=321,000

$Elasticity = \frac{Q2 - Q1}{\frac{Q1 + Q2}{2} } * \frac{\frac{P1 + P2}{2} }{P2 - P1}$

$Elasticity = \frac{321,000 - 446,000}{\frac{446,000 + 321,000}{2} } * \frac{\frac{2750 + 2880}{2} }{2880 - 2750}$

$Elasticity = \frac{-125,000}{383,500} * \frac{2815}{130}$

$Elasticity = - 0.3259*21.6598$

Elasticity = -0.76

Thus, elasticity of demand for laptops is 7.06. This means that laptops are highly price elastic as it is greater than 1.

8 0

4 years ago

A cylindrical can that has a capacity of 20 m3 will be made. The metal used to build the top costs $10 per square meter while th

Alchen [17]

The dimensions of the cylinder can be used to minimise cost of manufacture.

<h3>How to we find minimised cost?</h3>

Let's ignore the metal's thickness and assume that the material cost to manufacture is precisely proportionate to the surface area of a perfect cylinder.

A=2πr(r+h)

Given that V=1000=r2h and h=1000=r2, we can write

A=2πr(r+1000πr2)

A=2πr2+2000r−1

By setting the derivative to zero, we may determine the value of r that minimises A:

A′=4πr−2000r−2

0=4πr−2000r−2

2000r−2=4πr

2000=4πr3

r=500π−−−√3

r=5.419 + cm

h=1000πr2=10.838 + cm

The can with the smallest surface area has a volume of 1000 cm 3 and measures 5.419+ cm in radius and 10.838+ cm in height. The can has a surface area of 553.58 cm 2. Given a constant volume, the cylinder with diameter equal to height has the least surface area.

Can surface area (cm2) versus. radius (cm), where capacity = 1000cm 3.

Learn more about manufacturing here:

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8 0

2 years ago

For each of the following fiscal policy proposals, determine whether the primary focus is on aggregate demand, aggregate supply,

Bad White [126]

Answer:

2. (i) demand-side; (ii) both; (iii) supply-side; (iv) supply-side; (v) both

Explanation:

a. $1,000 per person tax reduction ⇒ focus on aggregate demand (more money for consumers to spend)

b. a 5% reduction in all tax rates ⇒ focus on both aggregate demand and supply (more money for consumers and suppliers)

c. Pell Grants, which are government subsidies for college education ⇒ focus on aggregate supply (more money for suppliers of college education)

d. government-sponsored prizes for new scientific discoveries ⇒ focus on aggregate supply (more money for suppliers of new scientific discoveries)

e. an increase in unemployment compensation ⇒ focus on both aggregate demand and supply (more money for consumers resulting in higher prices and lower output)

4 0

3 years ago

A certain delivery service offers both express and standard delivery. Seventy-five percent of parcels are sent by standard deliv

Elena L [17]

Answer:

Probability, P(n) = 3/8

Explanation: Let standard delivery be S and express delivery be E.

I) When the parcels were sent:

S(n) = 75/100 and E(n) = 25/100

II) When the parcels arrived:

S(n)← = 80/100 and E(n)← = 95/100

The probability a record of a parcel delivery is chosen, P(n) = S(n)*E(n) + E(n)*S(n) = 75/100*25/100 + 25/100*75/100

P(n) = 3/16 + 3/16 = 6/16

∴ P(n) = 3/8

7 0

4 years ago

On January 1, 2020, Solugenix issued $400,000 of 7.125 percent Senior Notes due January 1, 2030, at par value. Interest on the n

SVEN [57.7K]

Answer:

$20,000 loss

Explanation:

Repurchase of bond = Repurchase price - Carrying value

Repurchase of bond = ($400,000*105%) - $400,000

Repurchase of bond = $420,000 - $400,000

Repurchase of bond = $20,000 loss

Thus, the loss on the repurchase of the bond is $20,000

6 0

3 years ago