Answer: (B) The price elasticity of demand for good Z = 0.86
Step-by-step explanation:
The formula for determining elasticity of demand by using the midpoint method is
(Q2 - Q1)/[(Q2 + Q1)/2] / (P2 - P1)/[(P2 + P1)/2]
Where
P1 is the initial price of the item.
P2 is the final price of the item.
Q1 is the initial quantity demanded for the item.
Q2 is the final quantity demanded for the item.
From the information given,
P1 = 10
P2 = 15
Q1 = 85
Q2 = 60
The price elasticity of demand for good Z = (60 - 85)/[(60 + 85)/2] / (15 - 10)/[(15 + 10)/2]
= (-25/72.5) / (5/12.5) = -25/72.5 × 12.5/5
= - 312.5/362.5 = - 0.86
I did it on the calculator and the answer is 7.77777777778
Answer:At the time of rental, an authorized hold will be secured on your credit/debit card provided to cover the estimated rental charges plus an additional $200.00 to cover additional charges that may be incurred.
Step-by-step explanation:
we have the function
Part a
For t=7
substitute in the given function
For t=14
For t=21
For t=28
For t=35
Observation: The values of E varies from -1 to 1, including the zero
Part B
Remember that
The Period goes from one peak to the next
so
Period=2pi/B
B=pi/14
Period=(2pi)/(pi/14)=2pi*14/pi=28
<h2>the period is 28 days</h2>
