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
vazorg [7]
2 years ago
13

If a 30 percent decline in the price of gasoline leads to a 15 percent rise in the quantity of gasoline being bought by consumer

s, the price elasticity of demand for gasoline in this range must be
Business
1 answer:
Andreas93 [3]2 years ago
5 0

Answer: 0.5 making the demand for gas to be inelastic in this range.

Explanation:

The price elasticity of demand is calculated as:

= % change in quantity demanded / % change in price

= 15% / -30%

= -0.5

Based on the above calculation, we can see that the elasticity of demand equals to 0.5. Since, it is less than 1, it is said to be inelastic.

You might be interested in
What is ecotourism? Write a short essay that includes the following information:
Lady_Fox [76]

Explanation:

1. For me, ecotourism seeks to protect the natural resources that we have in the present so that future generations have the opportunity to take advantage of them, while promoting social, cultural and economic growth of the local population.  According to other definitions, ecotourism is an environmentally responsible tourist modality. Its purpose is to visit and enjoy relatively unalterable natural areas as well as any cultural manifestation of the present or past, with the active participation of local populations. Ecotourism includes educational and interpretive content and tries to reduce negative impacts on the natural and socio-cultural environment as much as possible.

-<u>The Ministry of Tourism in Mexico defines Ecotourism in the following way: </u>"they are the trips that have the purpose of carrying out recreational activities of appreciation and knowledge of nature through contact with it." From another perspective, it is a tourist product aimed at those tourists who enjoy natural history, and who want to actively support and participate in the conservation of the environment.

-<u>The environmentalist architect and international consultant of Mexican origin, Héctor Ceballos Lascuráin, popularized in 1993 when he was included in the book “Ecotourism. </u>The Potential and the Pitfalls ”:

"Ecotourism is an environmentally responsible tourist modality, consisting of traveling to or visiting natural areas relatively undisturbed in order to enjoy, appreciate and study the natural attractions (landscape, wild flora and fauna) of said areas, as well as any cultural manifestation ( of the present and the past) that can be found there, through a process that promotes conservation, has a low negative environmental and cultural impact and fosters an active and socioeconomically beneficial involvement of local populations. ”

Ecotourism aims to achieve the preservation and maintenance of  natural ecosystems; tourism plays its role as a supplier of oil  economic that directly benefits local residents. Community  will provide their knowledge and services to tourists and they will benefit  economically.

- Ecotourism provides jobs and income to the local population.

-Provide environmental education to tourists.

-Create funds for purchase and supplies for improvement and protection of  natural areas. This is beneficial to attract future tourism.

- Motivates the preservation of the environment and the creation of new  or larger national parks, biosphere reserve, preservation  of forests, recreation areas, beaches and natural attractions.

Third world countries are important recipients of ecotourism. In  Brazil nature trips have become one of the new and more  great markets of economic income of the country. In south-central Africa, the  Rwanda's ecotourism is the third largest source of resources  economic.

6 0
3 years ago
Production Budget Pasadena Candle Inc. projected sales of 800,000 candles for January. The estimated January 1 inventory is 35,0
sergij07 [2.7K]

Answer and Explanation:

The preparation of the production budget is presented below:

Projected sales units 800,000 candles

Add: Desired ending inventory, Dec 31 20,000 units  

Total units available 820,000 units  

Less: Estimated beginning inventory,Jan 1 -35,000  units

Total units to be produced 785,000  units

We simply applied the below formula i.e

= Sales units + ending inventory units - beginning inventory units

By applying this formula we can get the Total units to be produced in January month

7 0
3 years ago
With a​ downward-sloping demand​ curve, average revenue is equal to price A. because the firm must lower its price to sell addit
tia_tia [17]

Answer:

D. ​Actually, average revenue is always equal to​ price, whether demand is downward sloping or no

Explanation:

This is because Average revenue is the amount of revenue that is obtained by selling an addition unit of output. This additional revenue is always = Price as proven by the equation below,

Total Revenue = Price * Quantity

Thus, AR = Total Revenue / Quantity  

Input elements of the Total revenue we get,

AR = Price * Quantity / Quantity

AR = Price  

Hope that helps.

3 0
3 years ago
we come to them who weep foolishly and sit down and cry for company, instead of imparting to them truth and health in rough elec
gtnhenbr [62]

Answer:

Emerson elaborates what is know as rough love

Explanation:

Sometimes to bring out the best in a person it is necessary to do things against his or her will, this happens a lot in cases where the parent educates the child or a close family member or friend worries for the welfare of the loved one, and is determined to taking action to change the situation and that includes applying discipline; or for example, hiding drinks from an alcoholic's son or even punishing a children for misbehave.

Emerson elaborates this in a succinct and not too apparent way, emphasizing the need for relationship with discipline.

4 0
3 years ago
If asset owners in Japan and the United States consider Japanese and U.S. assets as good substitutes for each other and if the U
Aleksandr [31]

Answer: financial inflow will reduce the United States interest rate.

Explanation:

The options include:

a. financial inflow will reduce the United States interest rate.

b. financial outflow will increase the Japanese interest rate.

c. The interest rate gap between the United States and Japan will be eliminated.

d. Loanable funds will be exported from the U.S. to Japan

e. the interest rate in the United States will equal theinterest rate in Japan.

Based on the information given in the question, the things that will occur include:

• financial outflow will increase the Japanese interest rate.

• The interest rate gap between the United States and Japan will be eliminated.

• Loanable funds will be exported from the U.S. to Japan

• the interest rate in the United States will equal the interest rate in Japan.

Therefore, option A is the correct option.

6 0
3 years ago
Other questions:
  • A traditional buyer-seller relationship is defined as "a long-term relationship between an owner and a contractor in which the c
    5·1 answer
  • What happens if Jeff refuses to pay the equilibrium wage for coffee shop employees?
    6·2 answers
  • Suppose that Firms A and B each produce high-resolution computer monitors, but Firm A can do so at a lower cost. Cassie and Davi
    5·1 answer
  • Stephen, the vice president of a private bank, promotes a stress-free work environment. He is concerned about his employees' wel
    6·1 answer
  • Define what is a constant dividend payout ratio policy
    5·1 answer
  • Cost of Goods Sold and Income Statement Schuch Company presents you with the following account balances taken from its December
    10·1 answer
  • Which of the following statements regarding the direct and indirect methods of reporting cash flow from operating activities is
    5·1 answer
  • A firm in a purely competitive labor market is a wage taker because
    7·1 answer
  • What explains the shape of a demand curve?
    7·1 answer
  • What are the 4 questions to ask when you analyze a transaction into Debits &amp; Credits
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!