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
Ilia_Sergeevich [38]
3 years ago
8

Your local movie theater earns a total revenue of $40,000 per month when the price of a movie ticket is $8, and it earns a total

revenue of $35,000 when the price of a movie ticket is $10. Demand is elastic, inelastic, or unitary elastic?
Business
1 answer:
raketka [301]3 years ago
7 0

Answer:

Inelastic

Explanation:

Elasticity of demand = percentage change in quantity demanded / percentage change in price

percentage change in quantity demanded =

35,000 - 40,000/40,000 = -0.125 = -12.5%

percentage change in price = $10 - $8 / $8 = 0.25 = 25%

Elasticity = -12.5%/25%= -0.5

Demand is inelastic because the elasticity of demand is a less than 1.

Elasticity of demand measures how quantity demanded changes when price change.

Demand is inelastic when a change in price has no effect on quantity demanded. Inelastic demand has a value of less than 1 .

Demand is elastic if a change in price has an effect on quantity demanded. Elastic demand has a value of more 1

Unitary elastic is when a change in price has the same proportional effect on a change in quantity demanded. Unitary elastic demand has a value of 1.

You might be interested in
True or False. A single working person may claim themselves as a dependent.
slamgirl [31]

Answer: I think it’s false

Explanation:

4 0
2 years ago
Read 2 more answers
Superior has provided the following information for its recent year of operation: The common stock account balance at the beginn
scoundrel [369]

Answer:

$12,000

Explanation:

Given the above information, we will apply the formula below:

The ending balance of retained earnings = Beginning balance of retained earnings + Net income - Dividend paid

$90,000 = $65,000 + $37,000 - Dividend paid

Dividend paid = $65,000 + $37,000 - $90,000

Dividend paid = $12,000

Therefore, the above balance of $12,000 would be displayed in the retained earnings statment

7 0
3 years ago
NEED THIS SUPER FAST! ASAP!!!
IrinaVladis [17]

Answer:

     William James an American philosopher and psychologist. James was born into a wealthy family which lived in New York at the time of his birth. In 1861 James began his scientific studies at the Lawrence Scientific School of Harvard College. He then, in 1864, took up medical studies at Harvard Medical School. James finally earned his MD degree in June of 1869 but he never practiced medicine.

    William James gained widespread recognition with his monumental "The Principles of Psychology," which was published in 1890. James held a in line with pragmatism, and declared that the value of any truth was utterly dependent upon its use to the person in which had held it. In his search for truth and assorted states of psychology, William James developed his two-stage model of free will. In this model, James tries to explain how it is people come to the creation of a decision and what factors are involved with it it.

Explanation:

3 0
3 years ago
Depending on the number of customer footfalls in each section, Glenn, the floor manager of an apparel store, shuffles the number
Doss [256]

Answer:

<em>The resource allocator role</em>

Explanation:

The role of resource allocator is among the four decisive management positions,  as its primary objective is on decision-making and implementation.

Knowledge of the resource allocator and other management positions makes it possible for both new,  trained and experienced supervisors to understand the work of a manager.

3 0
3 years ago
What are examples of financial obstacles to a career plan? Check all that apply. I was unable to save enough money to pay for co
Murrr4er [49]

Answer:

Explanation:

The following reasons are all examples of financial obstacles to a career plan...

  • I was unable to save enough money to pay for college.
  • The bank did not approve my loan application to fund my new company.
  • I applied for but did not receive a college scholarship.

All of these examples, make it difficult for the individual to pursue the career that they want due to a lack of finances. This includes both going to college to pursue learn and enter the job world that you want as a career as well as forming a company and entering the market that you want as a career as an entrepreneur.

6 0
3 years ago
Read 2 more answers
Other questions:
  • Jose does not have a retirement plan at work. He currently earns $30,000 in salary and is in the 15% marginal tax bracket. If he
    7·1 answer
  • Two constant growth stocks are in equilibrium, have the same price, and have the same required rate of return. Which of the foll
    8·1 answer
  • Outstanding stock of the West Corporation included 40,000 shares of $5 par common stock and 20,000 shares of 5%, $10 par non-cum
    13·1 answer
  • How does proper inventory control help a company manage its marketing efforts
    15·1 answer
  • The _____ perspective on management consists of the systems, contingency, and quality-management viewpoints.
    14·1 answer
  • Which of the following is the best reason for researching and comparing colleges’ curricula before making a final decision?
    15·2 answers
  • Use the cost information below for Sundar Company to determine the cost of goods manufactured during the current year:
    10·1 answer
  • ASAP! Giving brainliest for CORRECT awnser.
    15·2 answers
  • Additional information about the company follows: Hubs require $24 in direct materials per unit, and Sprockets require $17. The
    14·1 answer
  • Will award brainliest for correct answer
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!