Answer:
0.18
Step-by-step explanation:
Given that:
P₁ = $10, P₂ = $20
From the tables Q₁ = 900, Q₂ = 800
Using midpoint method:
Percentage change in quantity = 
Percentage change in price =
Price of elastic demand = Percentage change in quantity/ Percentage change in price = -11.76% / 66.67% = 0.18
The Price of elastic demand is positive because we took the absolute value and elasticity are always positive
Therefore since Price of elastic demand < 1, the demand is inelastic in this interval.
This means that, along the demand curve between $10 to $20, if the price changes by 1%, the quantity demanded will change by 0.18%. A change in the price will result in a smaller percentage change in the quantity demanded. For example, a 10% increase in the price will result in only a 1.8% decrease in quantity demanded and a 10% decrease in the price will result in only a 1.8% increase in the quantity demanded
Answer:
Step-by-step explanation:
Divide 3 on both sides:
Add 1 to both sides:
Multiply by 7 on both sides:
Answer:
Linear Equation: P = 0.008T + 0.13
Price of stamp in 2015 = $0.45
Step-by-step explanation:
From 1975 to 2005 [30 years], the price increased from 0.13 to 0.37 [0.24].
This means the rate of change (slope) is 0.24/30 = 0.008
This means Price changed (increased) by $0.008 per year.
Slope = 0.008
The y-intercept (P) is at the starting point which is at T = 1975, the price was 0.13. Hence y-intercept is 0.13
The equation of a line is given as
P = mT + b
Where m is the slope and b is the y-intercept
Now, we can write the linear model equation as:
P = 0.008T + 0.13
To find the price of stamp in 2015, we see that this is 40 years later after 1975. So we plug in 40 into T in the equation found above:
P = 0.008(40) + 0.13
P = $0.45
Answer:
Efx=2300 may be it would help : )
Step-by-step explanation:
To find that u have to :
mass mid value(x) Number..(f) fx
10-29 19 32 608
30-39 9 38 342
40-49 9 64 576
50-59 9 35 315
60-69 9 22 198
70-99 29 9 . 261
Efx=2300
Answer:
4/5 would be at the 8th line, and 3/10 would be on the 3rd
Step-by-step explanation:
