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IrinaK [193]
2 years ago
13

Currently, the price of good W is $50 and the quantity demanded is 35,000 units. In past studies, the price elasticity of demand

for W was found to be -0.25. If the price of W is expected to increase to $60, calculate the resulting expected number of units that will be demanded.
Business
1 answer:
Crazy boy [7]2 years ago
6 0

The resulting change in the quantity demanded is a five percent decrease.

<h3>What is the elasticity of demand?</h3>

Elasticity of demand measures the percentage change in quantity demanded in relation to the percentage change in price.

Elasticity of demand = percentage change in quantity demanded /  percentage change in price.

percentage change in price = ($60 / $50) - 1 = 0.2 = 20%

percentage change in quantity demanded = -0.25 x 20% = -5%

To learn more about price elasticity of demand, please check: brainly.com/question/18850846

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Answer:

Option C would be the correct answer.

Explanation:

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The types of cognitive bias are almost as follows:

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The latter considerations provided are not closely linked to the case provided. So, the answer above is the right one.

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Answer:

C

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3 years ago
Tamarisk, inc. has assets of $4393000, common stock of $1077000, and retained earnings of $604000. what are the creditors’ claim
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creditors = $2712000

Hence, creditors' claim on their assets is $2712000.

Still, a car is an assets if it's cheaper than what you paid for it because it's readily available on the market and can be turned into cash. That alone, by definition, makes it an asset. It's these additional costs and constant depreciation that make a car worthless.

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4 0
1 year ago
Automobile firms can use their inputs to make hybrid cars or "regular" (non-hybrid) cars. If the equilibrium price of hybrid car
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If the price of the <em>Hybrid cars</em> rises sharply, Automobile companies will make more <em>Hybrid cars</em> so as to take advantage of the situation and make more profit.

This would reduce the amount of inputs that they have available for <em>regular cars</em> and so they will make less <em>regular cars. </em>

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7 0
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3 years ago
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