Social Studies, 10.10.2021 07:40 hannahdrees0731

(a) Identify whether the price of sprockets from $4 to $3 is elastic, unit elastic, or inelastic. Explain. (b) What is the price of sprockets that maximizes the hardware store's revenue? Explain.

(c) The price of sprockets is $1. If the hardware store wants to increase its revenue, how should it change the price? Explain.

(d) Using the midpoint formula, calculate the price elasticity of demand for sprockets when price increases from $2 to $3. Identify the coefficient as elastic, unit elastic, or inelastic.

(e) Using the midpoint formula, calculate the price elasticity of demand for sprockets when price decreases from $5 to $4. Identify the coefficient as elastic, unit elastic, or inelastic.

(f) Based on the scenario in part (e), how does the decrease in price affect the hardware store's revenue?

(a) Identify whether the price of sprockets from $4 to $3 is elastic, unit elastic, or inelastic. E

Answers: 3

Show answers

Other questions on the subject: Social Studies

Social Studies, 22.06.2019 10:10, naomi5321

You are a cfp and although you never went to law school, you consider yourself to be very good at reviewing wills. your client, catherine, asks you to prepare a will for her. should you prepare a will for catherine? a. yes, catherine is your best client and you might lose her if you do not prepare the will. b. yes, it is permissible for a cfp to prepare a legal document. c. no, preparing catherine's will would be considered the unauthorized practice of law. d. no, you should only prepare catherine's will if you are going to prepare her husband's will as well.

Answers: 2

continue

Social Studies, 22.06.2019 11:30, ella3714

What does this quotation say about how miranda’s confession was made?

Answers: 1

continue

Social Studies, 22.06.2019 13:20, Blazingangelkl

Question 2 of 102 pointshow did the protestant reformation impact the european enlightenment? oa. it convinced many europeans that only biblical laws should befollowed. ob. it required christians to sign a social contract with the protestantchurchoc. it created a new christian country with a republican form ofgovernmentd. it led many people to question the idea that a king's power camefrom god.

Answers: 1

continue

Social Studies, 22.06.2019 14:00, danielahalesp87vj0

An individual who is experiencing a prolonged period of stress would likely have levels of circulating than an individual who was not experiencing stress.

Answers: 2

continue

You know the right answer?

(a) Identify whether the price of sprockets from $4 to $3 is elastic, unit elastic, or inelastic. Ex...