The price elasticity of demand of the pen will be -0.2.
<h3>How to compute the elasticity?</h3>
The demand and supply schedule will be:
Price Qd. Qs
$10. 250. 100
$20. 200. 90
$30. 180. 80
The price elasticity of demand from $1 to $2 will be:
= Percentage change in quantity demanded/percentage change in price
Percentage change in quantity demanded will be:
= (200 - 250)/250 × 100
= -20%
Percentage change in price will be:
= (20 - 10)/10 × 100
= 100%
Therefore, the elasticity of demand will be:
= -20/100
= - 0.2
The value gotten illustrates an inelastic demand.
In order to increase the total revenue, the price can be reduced as it will lead to more sales.
Learn more about PED on:
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<u>Complete question:</u>
Choose any product or service. Create the demand and supply schedule.
Calculate just one PED.
Is the demand elastic or inelastic?
What price change would you recommend to increase TR?
I think it's D because you can't have negative minutes and after 8 minutes you can't go any deeper than 0 inches.
She run in 28 days = 84 miles
So, 1 day, it will be = 84 / 28 = 3 miles
Now, in 1 year it would be = 365 * 3 = 1095
So, your final answer is 1095 miles
Hope this helps!
Answer:
y ≤-7
Step-by-step explanation:
-8y ≥56
Divide each side by -8. Remember to flip the inequality
-8y/-8 ≤56/-8
y ≤-7
