Using the midpoints method, calculate the price elasticity of demand of good x using the following information: when the price of good x is $50, the quantity demanded of good x is 400 units. when the price of good x rises to $60, the quantity demanded of good x falls to 300 units.
a. the price elasticity of demand for good x -123 e
b. the price elasticity of demand for good x -1.57.
c. the price elasticity of demand for good x-0.64
Answers: 1
= 0.1818
Other questions on the subject: Business
Business, 22.06.2019 12:30, asseatingbandit
Sales at a fast-food restaurant average $6,000 per day. the restaurant decided to introduce an advertising campaign to increase daily sales. to determine the effectiveness of the advertising campaign, a sample of 49 days of sales were taken. they found that the average daily sales were $6,300 per day. from past history, the restaurant knew that its population standard deviation is about $1,000. if the level of significance is 0.01, have sales increased as a result of the advertising campaign? multiple choicea)fail to reject the null hypothesis. b)reject the null hypothesis and conclude the mean is higher than $6,000 per day. c)reject the null hypothesis and conclude the mean is lower than $6,000 per day. d)reject the null hypothesis and conclude that the mean is equal to $6,000 per day. expert answer
Answers: 3
Business, 22.06.2019 19:40, izzyisawesome5232
The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.
Answers: 3
Business, 22.06.2019 19:40, raewalker23p4ibhy
Banana computers has decided to procure processing chips required for its laptops from external suppliers instead of manufacturing them in their own facilities. how will this decision affect the firm? a. the firm will be protected against the principal-agent problem. b. the firm's administrative costs will be low because of necessary bureaucracy. c. the firm will have more flexibility in purchasing and comparing prices of goods and services. d. the firm will have high-powered incentives, such as hourly wages and salaries.
Answers: 3
You know the right answer?
Using the midpoints method, calculate the price elasticity of demand of good x using the following i...
Questions in other subjects:
Chemistry, 31.07.2019 02:00
Mathematics, 31.07.2019 02:00
