Answer:
The correct answer is B
Explanation:
Price elasticity of the demand evaluates the demand responsiveness after the change or variation in the product own price.
The formula for computing the coefficient of price elasticity, is the factors which affect the elasticity and also elasticity is vital for business when deciding the prices.
So, Filet mignon(F) sells for $20 per pound when compared to that of hamburger (H) which sells the product for $2.30 per pound. F have the higher price as compare to the H, therefore, the coefficient of the price elasticity of demand in absolute value will be high or larger for F than that of H.
Answer:
-0.10
Explanation:
To calculate this, we us the formula for calculating elasticity of demand (E) relevant for the demand equation as follow:
E = (P / Q) * (dQ / dP) .............................. (1)
Where,
Q = 30
P = 90
E = -0.3
dQ / dP = b = ?
We then substitute all the value into equation (1) and have:
-0.3 = (90 / 30) * b
-0.3 = 3 * b
b = -0.3 /3
b = -0.10
Therefore, appropriate value for the price coefficient (b) in a linear demand function Q is -0.10.
NB:
Although this not part of the question, but note that how the linear demand function will look can be obtained by first solving for the constant term (a) as follows:
Q = a - 0.10P
Substituting for Q and P, we can solve for a as follows:
30 = a – (0.1 * 90)
30 = a – 9
a = 30 + 9 = 39
Therefore, the linear demand equation can be stated as follows:
Q = 39 – 0.1P
Answer:
The inspector found a violation that could cause serious injury or death.
Answer:
The demand for pork would decrease and the equilibrium price of pork would decrease.
Explanation:
Substitute goods are goods that can be consumed in place of each other.
If the price of chicken falls, consumers would increase the quantity demanded of chicken and reduce their demand for pork. The fall in the demand for pork would lead to a leftward shift in the demand curve for pork. A leftward shift in the demand curve while the supply curve remains unchanged would lead to a fall in equilibrium price of pork.
I hope my answer helps you
Answer:
cash 60,000 debit
note payable 60,000 credit
--to record issuance--
interest expense 1,000 debit
Amortizacion Land 34,000 debi
---to reocrd sale of receiptst
Explanation:
Interest payment:
principal x rate x time (being time and rate expressed in protion of a year
60,000 x 0.05 x 120/360 = 1,000
