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Mariulka [41]
3 years ago
8

The price elasticity of demand (based on the midpoint formula) when price increases from $10 to $12 is:______

Business
1 answer:
aliina [53]3 years ago
8 0

Answer:

the price elasticity of demand is 1

Explanation:

The price elasticity of the demand using mid point formula is as follows:

Price elasticity of the demand is

= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of quantity demanded)  

where,  

Change in quantity demanded is

= Q2 - Q1

= 36 - 30

= 6

And, average of quantity demanded is

= (36 + 30) ÷ 2

= 33

Change in price is

= P2 - P1

= $12 - $10

= $2

And, the average of price is

= ($12 + $10) ÷ 2

= 11

So, the price elasticity of demand is 1

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A writer, an illustrator, a publisher, and an agent would form a
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Cleaverland purchased 100% of Omaha on January 1, 2019 for $650,000. On that date, Omaha's stockholders' equity was $650,000, an
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Answer:

$960,000

Explanation:

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5 0
3 years ago
True or false: The transfer of costs from one inventory account to the next parallels the physical transfer of goods from one in
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The transfer of costs from one inventory account to the next parallels the physical transfer of goods from one inventory to the next is true.

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Therefore, The transfer of costs from one inventory account to the next parallels the physical transfer of goods from one inventory to the next is true because gross profit will be lower, income tax will be lower and the cost of goods will increase.

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Treasury stock that had been purchased for $4,566 last month was reissued this month for $5,184. What would the journal entry to
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Answer:

The answer can include both C and D. Description below.

Explanation:

We make the following records.

The treasury stock was reissued at a premium of 5184 - 4556 = $628

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7 0
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