Answer:
x=9
Step-by-step explanation:
Equation: 5.60x=50.40
Solve: 5.60x=50.40
Divide both sides by 5.60 ( 5.60x/5.60 ) and ( 50.40/5.60 )
x=9
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.
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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?
The population density of Romania in 1997 given its area and the population is 95 people per square km.
<h3>What is the population density?</h3>
Population density is the number of people that live in a square kilometer of an area. It is determined by dividing total population by total area.
Population density = population / area
22.600,000 / 237301 = 95 people per square km
To learn more about population density, please check:
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Subtracting 2 from the original equation moves the graphed line 2 units down.
