Answer: See Explanation
Step-by-step explanation:
The price elasticity of demand will be calculated as:
q = 860 − 20p.
dq/do = -20
p = 38
Elasticity E(p) = (p/q) × dq/dp
= [38 /(860 - 20p)] × (20)
=38 × 20/(860 - 760)
= 7.6
Therefore, the price elasticity of demand when the price is $38 per orange is 7.6
Revenue = price × quantity
= p × q
= p × (860 − 20p)
= 860p - 20p²
Differentiating with respect to p
= 860 - 40p
40p = 860
p = 860/40
p = 21.50
Maximum Revenue = 860p - 20p²
= 860(21.50) - 20(21.50)²
= 18490 - 9245
= 9245
Should there be a graph or something? Or an equation?
Answer:
0.17
Step-by-step explanation:
The number of times there is free Breakfast at work = 25%
The number of times the coworker lies = 1/3
The number of times the coworker speaks truth = 2/3
How likely is it that there is free breakfast at work today:
For this to happen both conditions must be satisfied. There must be free breakfast at work AND the coworker has also spoken truth. Now in this condition we will use the AND rule of Probability where we will take the Product of both the probabilities.
Result = 0.25 x 0.67 = 0.17
<span>−x = 6 − 4x + 18
3x = 24
x = 8
answer
</span><span>8 (second choice)</span>
