Answer: The price elasticity of demand for hot dog is -0.2
Explanation: Price elasticity of demand is the percentage change in quantity of a goods divided by the percentage change in the price of the goods
PED = %∆Q ÷ %∆P
STEP1: CALCULATE THE PERCENTAGE CHANGE IN QUANTITY
[(510 - 500) ÷ 500 ] × 100 = 2%
STEP2: CALCULATE THE PERCENTAGE CHANGE IN PRICE
[($1.35 - $1.50) ÷ $1.50] ×100 = -10%
STEP3: CALCULATE THE PRICE ELASTICITY OF DEMAND
2% ÷ (-10%) = -0.2
The price elasticity is -0.2 which means that the demand is inelastic. Demand is elastic when percentage change in quantity is greater than percentage change in price.
Answer:
A
Explanation:
Supplies..............................
550
Equipment.........................
500
Accounts Payable...............
50
Answer:
Project organization.
Explanation:
The Erik W. Larson and David H. Gobeli study that compared projects that had been managed in a variety of structural types revealed that new product development projects tended to be most effectively executed when the organizational structure was a project organization.