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:
brainly.com/question/21105870
#SPJ1
<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?
Answer:
34
Step-by-step explanation:
Given that
2x - 7 = 9 ← solve for x
Add 7 to both sides
2x = 16 ( divide both sides by 2 )
x = 8
Substitute x = 8 into 5x - 6
5x - 6 = (5 × 8) - 6 = 40 - 6 = 34
Answer:
B
Step-by-step explanation:
Answer:
3/4
Step-by-step explanation:
1/2 the deck is red cards.
1/4 of the deck is spades.
There are no spades that are red cards, so the probability of drawing a red card or a spade at random from a well-shuffled deck is ...
1/2 + 1/4 = 3/4
<h3>
Answer: 5 < x < 29</h3>
=========================================
Explanation:
Since AB is smaller than AD, this must mean the angle ACB is smaller than angle ACD. Note how these angles are opposite the sides mentioned.
So 2x-10 < 48
At the same time, 2x-10 is also larger than 0.
Overall, we can say 0 < 2x-10 < 48
---------
Let's solve for x
0 < 2x-10 < 48
0+10 < 2x < 48+10 ...... add 10 to all sides
10 < 2x < 58
10/2 < x < 58/2 ..... divide all sides by 2
5 < x < 29
