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N76 [4]
2 years ago
8

If the number of memberships at the local gym increased from 400 to 500 when the membership price fell from $48 to $40 per month

, the absolute value of the price elasticity of demand coefficient, rounded to one decimal place, is:
Business
1 answer:
masya89 [10]2 years ago
8 0

The price elasticity of demand coefficient, rounded to one decimal place is 1.5

<h3>How to calculate price elasticity of demand</h3>

Change in price = $48 - $40

= $8

% change in price = 8/48 × 100

= 16.67%

change in quantity demanded = 500 - 400

= 100

% change in quantity demanded = 100/400 × 100

= 25%

Price Elasticity of Demand = percent change in quantity ÷ percent change in price

= 25% ÷ 16.67%

= 1.49970005998800

Approximately, 1.5

Learn more about price elasticity:

brainly.com/question/24384825

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Which of the following marketing variables is concerned with design, quality,
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A. Product APEX

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This is the correct answer.

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3 years ago
Suppose a consumer has an income of $16, the price of a is $2, and the price of b is $1. which combination is on the consumer's
Crazy boy [7]

The combination is on the consumer's budget line. is Option B. 5A and 6B.

The budget line is a graphical delineation of all possible mixtures of the 2 commodities that can be bought with provided profits and price in order that the charge of each of these combos is equal to the financial income of the patron.

In economics, a budget line constraint represents all of the mixtures of products and services that a customer may also buy given modern-day expenses within his or her given earnings. consumer idea makes use of the principles of a budget constraint and a desire map as equipment to observe the parameters of purchaser choices.

A consumer has an income  = of $16

A = $2

B = $1

The sum of the total will be less than $16

Hence. option B  5A and 6B.

Learn more about the budget line here:-brainly.com/question/14524034

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Disclaimer: your question is incomplete, please see below for the complete question.

A. 6A and 5B

B. 5A and 6B.

C. 5A and 5B

D. 4A and 6 B

5 0
2 years ago
From the end of 2010 to the end of 2011, M1 increased from $2,006 billion to $2,311 billion. By what percentage did M1 increase?
SIZIF [17.4K]

Answer:

15.20%

Explanation:

The computation of the M1 increase is shown below:

= (M1 End of the year 2011  - M1 end of the year 2010) ÷ M1 End of the year 2010

= ($2,311 billion - $2,006 billion) ÷ ($2,006 billion)

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4 0
3 years ago
You are an accounting student at a university and also a talented guitar player. During summer vacation, you are hired full time
Travka [436]

Considering the scenario described above, at the store, I am an employee. This is because I'm hired full-time.

Also, because an office manager is supervising me, that shows I am an employee.

Also, given that I work within normal business hours at the store, that is a characteristic of an employee. Again, payment of wages is associated with employee relations.

On the other hand, I work as an independent contractor at the pub because I decide the music to play and get paid per gig.

Also, given that I don't work at normal hours and get paid at a lump sum, this is an independent contractor working feature.

Hence, in this case, it is concluded that I worked as an independent contractor at the pub and an employee at the store.

Learn more here: brainly.com/question/20834227

8 0
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