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LenaWriter [7]
1 year ago
10

The publisher of an economics textbook finds that, when the book's price is lowered from $70 to $60, sales rise from 10,000 to 1

5,000. By the midpoint method, the price elasticity of demand is:________.a. 500b. 2.6 c. 3.5d. 50
Business
1 answer:
max2010maxim [7]1 year ago
3 0

Answer:

b. 2.6

Explanation:

Price elasticity of demand measures how much quantity demanded changes in response to a change in price.  The Midpoint Method uses the average percent change in both quantity and price.

The formula for calculating midpoint elasticity of demand is a below

PED=(Q2−Q1)÷(Q2+Q1)/2

        (P2−P1)÷(P2+P1)/2

Where Q is quantity and P is price

PED=(15000−10000)÷(15000.+10000)/2

        (60−70)÷(60+70)2

PED =5,000÷12,500

          (10)÷65

PED =0.4

        0.154

PED =2.5974

PED   =2.6

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Answer:

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Explanation:

Giving the following information:

I sell shoes for $250 per pair. They cost me $25 to produce.

<u>To calculate the markup percentage, we need to use the following formula:</u>

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Answer:

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Explanation:

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easynotrcards Under a fixed exchange rate regime, if the domestic currency is initially undervalued, that is, above par, the cen
Alina [70]

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D) foreign; domestic

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Read 2 more answers
Last year a certain bond with a face value of $5,000 yielded 8 percent of its face value in interest. If that interest was appro
Katen [24]

Answer:

bond's selling price is $6154

Explanation:

given data

face value = $5,000

interest = 8 % of face value

rate = 6.5 %

to find out

bond's selling price

solution

we find interest that is

interest = 8 % of face value

interest = 8 % × 5000

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so we consider bond selling price is x

so

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8 0
1 year ago
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Taya2010 [7]

Answer:

The correct answers are letters "D" and "E": Separately; At your request.

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