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Temka [501]
3 years ago
11

When the price of hot dogs is $1.50 each, 500 hot dogs are sold every day. After lowering the price to $1.35 each, 510 hot dogs

are sold every day.
At the original price, what is the price elasticity of demand for a hot dog?
Business
1 answer:
AURORKA [14]3 years ago
4 0

Answer: The price elasticity of demand for hot dog is -0.2

Explanation: Price elasticity of demand is the percentage change in quantity of a goods divided by the percentage change in the price of the goods

PED = %∆Q ÷ %∆P

STEP1: CALCULATE THE PERCENTAGE CHANGE IN QUANTITY

[(510 - 500) ÷ 500 ] × 100 = 2%

STEP2: CALCULATE THE PERCENTAGE CHANGE IN PRICE

[($1.35 - $1.50) ÷ $1.50] ×100 = -10%

STEP3: CALCULATE THE PRICE ELASTICITY OF DEMAND

2% ÷ (-10%) = -0.2

The price elasticity is -0.2 which means that the demand is inelastic. Demand is elastic when percentage change in quantity is greater than percentage change in price.

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Jeremy is a business student at ABC University. He is currently enrolled for 18 credits, mostly of quantitative courses with hig
kenny6666 [7]

Answer: work overload

Explanation:

From the question, we are informed that Jeremy is a business student at ABC University and that he is currently enrolled for 18 credits, mostly of quantitative courses with high workloads.

We are further told that he also works 25 hours a week as a bartender. This shows that Jeremy has many works he's doing and the likely cause of his stress is work overload. He's performing too much tasks.

5 0
4 years ago
Barclay enterprises manufactures and sells three distinct styles of bicycles: the youth model sells for $340 and has a unit cont
insens350 [35]

Answer: 48.9%

Explanation:

Model - - - - - - Selling price - - - - cont/margin

Youth - - - - - - $340 - - - - - - - - - - - $115

Adult - - - - - - - $870 - - - - - - - - - - - $460

Recreational - - $1060 - - - - - - - - - $510

Contribution margin per composite unit

Youth = $115 × 5 = $575

Adult = $460 × 9 = $4140

Recreational = $510 × 6 = $3060

TOTAL = $7775

Selling price per composite unit:

Youth = $340 × 5 = $1700

Adult = $870 × 9 = $7830

Recreational = $1060 × 6 = $6360

TOTAL = $15890

Contribution margin ratio per composite unit ;

($7,775 ÷ $15,890) × 100

0.4893 × 100 = 48.9%

8 0
3 years ago
In the past there have been violent protests against the World Bank and the World Trade Organization. The protesters argued that
rjkz [21]

Answer:

1) disagree with the protesters because these practices will help make both rich and poor countries richer.

Explanation:

Free trade and foreign direct investments should make increase the wealth of both poor countries and rich countries. This rarely happens due to one main problem, corruption in poor countries. A lot of people are angry at foreign multinational corporations that have excessive powers on poor countries and they also earn extremely high profits, but it is not only the fault of the multinationals, it is also the fault of the poor countries' leaders.

No corporation can simply go to another country and claim everything for themselves, ti doesn't work like that. Generally corporations have very deep pockets and they simply bribe a president, a secretary of something, a few more people including congressmen and magically they purchase the purchase assets at below market prices. This repeats again and again everywhere around the world, with a very few exceptions.

For example, Ireland was extremely poor and when it joined the European Union it decided to host several multinationals and it has turned into a developed country since then. Chile is another successful story, and it was a dictator that opened Chilean economy to foreign investment.

The problem with most poor countries is that their corrupt leaders benefit themselves and not the country.

6 0
3 years ago
A customer wants to implement a wireless network in a historic location, but is concerned about the structural and aesthetic imp
MariettaO [177]

Answer:

D-APs do not need network connections.

Explanation:

The benefit of using wireless mesh which addresses the concerns of the

customer who wants to implement a wireless network in a historic location, but is concerned about the structural and aesthetic impact to the facility is that APs do not need network connections because it is easily set up and does not required an access point.

7 0
4 years ago
Do you think pricing for Super Bowl advertising is fair?
RideAnS [48]

Answer:

<u>Yes. </u>

Explanation:

How else are they going to make their money?

4 0
3 years ago
Read 2 more answers
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