The data below represent a demand schedule.

Product Price: $30, $25, $20, $15, $10
Quantity Demanded: 5, 15, 25, 35, 45

Using the midpoint approach, determine the price elasticity of demand between each of the following prices:

A. Between P1 = $30 & P2 = $25, Ed=?
B. Between P1 = $25 & P2 = $20, Ed=?
C. Between P1 = $20 & P2 = $15, Ed=?
D. Between P1 = $15 & P2 = $10, Ed=?

Round your answers to two decimal places. Enter your answers as a positive value (absolute value).

Answers

Answer 1

By using the midpoint approach, the price elasticity of demand between each of the given prices are:

5.502.251.170.63

What is the price elasticity of demand?

The price elasticity of demand measures the responsiveness of the quantity demanded by a consumer with respect to a specific change in price of the product, all things being equal (ceteris paribus).

By using the midpoint approach, the price elasticity of demand between each of the given prices is given by:

Price elasticity of demand = (Q₂ - Q₁)/[(Q₂ + Q₁)/2]/(P₂ - P₁)/[(P₂ + P₁)/2]

Price elasticity of demand = (15 - 5)/[(15 + 5)/2]/(25 - 30)/[(25 + 30)/2]

Price elasticity of demand = 1/-0.1818

Price elasticity of demand = 5.50.

Part B.

Price elasticity of demand = (Q₂ - Q₁)/[(Q₂ + Q₁)/2]/(P₂ - P₁)/[(P₂ + P₁)/2]

Price elasticity of demand = (25 - 15)/[(25 + 15)/2]/(20 - 25)/[(20 + 25)/2]

Price elasticity of demand = 0.5/-0.2222

Price elasticity of demand = 2.25.

Part C.

Price elasticity of demand = (Q₂ - Q₁)/[(Q₂ + Q₁)/2]/(P₂ - P₁)/[(P₂ + P₁)/2]

Price elasticity of demand = (35 - 25)/[(35 + 25)/2]/(15 - 20)/[(15 + 20)/2]

Price elasticity of demand = 0.33/-0.2857

Price elasticity of demand = 1.17.

Part D.

Price elasticity of demand = (Q₂ - Q₁)/[(Q₂ + Q₁)/2]/(P₂ - P₁)/[(P₂ + P₁)/2]

Price elasticity of demand = (45 - 35)/[(45 + 35)/2]/(10 - 15)/[(10 + 15)/2]

Price elasticity of demand = 0.25/-0.4

Price elasticity of demand = 0.63.

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Related Questions

Determine the composition of
transformations that would map figure ABCD to figure A'B'C'D"

1. The transformation that would map vertex B to B' is

Answers

Answer: translation B to B’

Reason: choices are translation, reflection, rotation, or dilation, this is translation


5.259 to the thenths place

Answers

Answer:

5.3 is 5.259 rounded into the tenths place.

Determine whether 5, 238 is divisible by 2, 3, 4, 5, 6, 9, or 10.

Answers

Answer:

2, 3, 6

Step-by-step explanation:

Simply try each value using long division.

2:

Since 5,238 ends in an even number, that automatically means it is divisible by 2.

5238/2=2619

Now for 3:

5238/3=1746 no remainder or decimal, so 3 also works

4:

You can either do long division again with 4, or you can see if 5238 divided by 2 (5238/2) is also divisible by 2. Since 2619 doesn't end in an even number, 4 is a no go.

Long division 5238/4=1309.5 decimal here, so 4 isn't an answer

5:

This is also very easy, simply check if the number ends in 0 or 5. Since 5,238 does not, 5 doesn't work either.

6:

You can do the same thing as with 4, except this time trying to find if 5238 divided by 3 (5238/3) is divisible by 2. Since 1746 ends in an even number, 6 also works.

Long division: 5238/6=873

9:

You can do the same thing as with 6, except this time trying to find if 5238 divided by 3 (5238/3) is divisible by 3.

1746/3=548 with a remainder of 2, which means 9 doesn't work

Long division: 5238/9=548.66 repeating

10:

Finally, 10 is another easy one. Simply check if the number ends in 0. 5,238 does not, so 10 doesn't work.

E
6m
10m
8m
F
1.1
Calculate the length of the following
a)
DG
b)
EF
1.2 Determine the value of x
1.3
Given 17sinA-15-0 and 0° SA≤90°
Determine the values of the following with the aid of a diagram
a)
tan A
b)
1-cosA
c)
cos¹ A-cosecA
1.4 Simplify the following fraction WITHOUT USING A CALCULATOR
tan 45°.sin 30°-cot45°
sec 60⁰
මමමමම
(1)
(4)
(2)
(5)
(23)

Answers

The value of the tanA is 15/8, and the value of the 1 - cosA is 9/17 after calculating the base length which is 8 units.

What is trigonometry?

Trigonometry is a branch of mathematics that deals with the relationship between sides and angles of a right-angle triangle.

Here the diagram and some data are missing.

But using Pythagoras or trigonometric ratio we can find the length.

We have:

17sinA-15-0

sinA = 15/17

Using Pythagoras theorem:

Base length = √(17² - 15²) = 8 units

= tanA = 15/8

= 1 - cosA = 1 - 8/17 = 9/17

We can find the rest of the trigonometric ratio.

Thus, the value of the tanA is 15/8, and the value of the 1 - cosA is 9/17 after calculating the base length, which is 8 units.

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Which of the following is the solution to | x1-5 ≤ -13?
OA. All values are solutions
OB. x≤-8.and x 28
OC. x≤ -8
OD. No solution

Answers

B is the answe to this

Answer:

C

Step-by-step explanation:

[tex]\textsf {Given :}[/tex]

[tex]\mathsf {x - 5 \leq -13}[/tex]

[tex]\textsf {Add 5 to each side of the inequality : }[/tex]

[tex]\mathsf {x - 5 + 5 \leq -13 + 5}[/tex]

[tex]\mathsf {x \leq -8}[/tex]

The following scatter plot shows the data for NCAA quarterbacks comparing their attempted passes to completed passes.

Hint: A line of best fit follows the pattern of the data and is in the middle of the points.

Answers

Answer:

whats the question

Step-by-step explanation:

The picture below shows the path a bon flies from the top of a 9.5 foot tall sunflower to a point
on the ground 5 feet away. What is the measure of angle x that the sunflower makes with the
ground?

Answers

Answer:

100.05

Step-by-step explanation:

9.5 and multiple it by 5

Calculate the volume of each diagrams.

Answers

The volume of the solid objects are 612π in³ and 1566πcm³

Volume of solid object

The given objects are composite figures consisting of two shapes.

The volume of the blue figure is expressed as;

Volume = Volume of cylinder + volume of hemisphere

Volume = πr²h + 2/3πr³

Volume =  πr²(h + 2/3r)

Volume =  π(6)²(13+2/3(6))

Volume = 36π(13 + 4)

Volume = 612π in³

For the other object

Volume = Volume of cylinder + volume of cone

Volume = πr²h + 1/3πr²h

Volume =  π(9)²(15) + 1/3π(9)²(13)

Volume=  81π (15+13/3)
Volume= 1566πcm³

Hence the volume of the solid objects are 612π in³ and 1566πcm³

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11,9,36,28,7,41 what is the mean absolute deviation

Answers

Answer:

The mean absolute deviation of this sample is 13.

Step-by-step explanation:

Mean absolute deviation is the sum of the absolute value of the differences between data values and the mean, divided by the sample size.

Select the correct answer.
This system of equations relates the ticket price, in dollars, for seats in the silver (x) and gold (y) sections at a rock concert.

x + 2y = 82
3x + y = 96

By how much does the price of a ticket for the gold section exceed the price for a ticket for the silver section?

A.
$6
B.
$8
C.
$10
D.
$12
E.
$14

Answers

Answer:

$12

Step-by-step explanation:

x+2y=82........(1)

3x+y=96.........(2)

y=96-3x...........(3)

x+2y=82

x+2(96-3x)=82

x+192-6x=82

-5x=82-192

-5x=-110

x=-110÷-5

x=22

y=96-3x

y=96-3(22)

y=96-66

y=30

Therefore,x=22 and Y=30

so silver= x =22

gold= y = 30

y=30;x=22

=30-22

-12

Therefore $12

Can anyone answer this?

Answers

I believe yes, no, no, no but I am not sure

In a parallelogram PQRS, if angle P = (2x+25) degrees and angle Q = (3x-5) degrees, then write the measures of angle S and angle R.

Answers

Consecutive angles of a parallelogram are supplementary, so:

[tex]2x+25+3x-5=180\\5x+20=180\\5x=160\\x=32[/tex]

This means [tex]m\angle P=2(32)+25=89^{\circ}[/tex] and that [tex]m\angle Q=3(32)-5=91^{\circ}[/tex].

Since opposite angles of a parallelogram are congruent,

[tex]\boxed{m\angle S=91^{\circ}, m \angle R=89^{\circ}}[/tex]

HELP URGENT WILL GIVE
BRAINLIEST!!!
Elsa is putting money into a
savings account. She starts
with $550 in the savings
account, and each week she
adds $70.
Let S represent the total
amount of money in the
savings account (in dollars),
and let W represent the
number of weeks Elsa has
been adding money. Write
an equation relating S to W
Then use this equation to
find the total amount of
money in the savings
account after 11 weeks.

Equation:__

Total amount of money after
11 weeks:

$__

Answers

Answer:

S x W + 550 = answer

Step-by-step explanation:

eh u dont need to know, yw

Answer:

Step-by-step explanation:

S= total amount in savings acc.
W= # of weeks
You have 550 in your acc and your adding 70 every week?
S= 550+70w

Then for 11 weeks: Equation- S=550+70*11

70*11=770

S= 550+770 - S= 1320

Total after 11 weeks is 1320

k5500 is invested for a period of 4 years in a savings account. for the first year , the investment grows at a simple interest rate of 11% per annum and then at a rate of 12.5% per annum compound and quarterly for the rest of the period. Determine the value of the investment at the end of the 4 years​

Answers

manyy is really short time samma basyo is really an amazing

(A+1)/a = y make a the subject of this equation

Answers

(A+1)/y=a
you’re welcome

Can u help me pls i will be putting some more problems
look the image

Answers

Step-by-step explanation:

So here...two triangle is measured in 78° and 30° ..here to find the value of third angle...

we need to subtract 180° from the sum of 78° and 30° ...cause the sum of all angle of triangle is 180° ..

x + 78° + 30° = 180°

x + 108° = 180°

x = 180° - 108°

x = 72°

hence the value of third angle is 72°....

(write in algebraic expression) Ice cream shop is open within the month of june,july and august
The shop served 100 fewer customers than they did in july
They served twice as many customers in august as they did in june
In total they served 400 customers over these three months

Answers

The algebraic expression of the situation above is 4x - 100 = 400

How to form an algebraic expression?

Let

the amount of ice cream they serve in July = x + 100

the amount of ice cream they serve in June = x

They served twice as many customers in august as they did in June.

Therefore,

the amount of ice cream they serve in August = 2(x)

the amount of ice cream they serve in August = 2x

Therefore,

2x + x  + x + 100 = 400

4x - 100 = 400

4x = 500

x = 500 / 4  

x = 125  

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Which expression is equivalent to (1/^y)-1/5

Answers

Answer:

5-y/5y

Sorry Im not to sure but maybe this will help?

Step-by-step explanation:

5 less than n is equal to 38​

Answers

N=43
N-5=38
You add five on both sides, to isolate n.
N=43

The pyramid below has a square base.
24.4 cm
17.2 cm
Vol = x area of base. x perpendicular height
Work out the volume of the pyramid.

Answers

The volume of the pyramid would be 2406.16 cubic cm.

How to find the volume of a square-based right pyramid?

Supposing that:

The length of the sides of the square base of the pyramid has = b units

The height of the considered square-based pyramid = h units,

The pyramid below has a square base.

h = 24.4 cm

b = 17.2 cm

Then, its volume is given by:

[tex]V = \dfrac{1}{3} \times b^2 \times h \: \rm unit^3[/tex]

[tex]V = \dfrac{1}{3} \times 17.2^2 \times 24.4 \: \rm unit^3\\\\V = 2406.16[/tex]

Therefore, the volume of the pyramid would be 2406.16 cubic cm.

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HELP!!
3. Explain why all circles are similar. Use transformations in your explanation. You may also refer to the below image

Answers

All circles are similar because radius is constant throughout the circle.

What is similarity of circles?

Every point on a circle's perimeter is equidistant from its center. We utilize the radii to get the scale factor since the size of each circle is specified by its radius.

A quality of at least two forms in relation to each other is similarity. When two forms are similar, their qualities in relation to one another remain the same.

A circle is characterized by two properties: its center and radius.Because similarity is unaffected by location  the similarity of circles is solely determined by their radii.

Hence,all circles are similar because radius is constant throughout the circle.

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The functions f(x) and g(x) are shown on the graph.



Using f(x), what is the equation that represents g(x)?

g(x) = log3(x) – 4
g(x) = log3(x) + 4
g(x) = log3(x – 4)
g(x) = log3(x + 4)

Answers

We can see that g(x) is a translation of 4 units to the left of f(x), then:

g(x) = log₃(x + 4).

How to get the equation that represents g(x)?

Here we can see that g(x) is a shift of f(x). Is clear that the asymptote of g(x) is 4 units to the left of the asymptote of f(x), so we can say that g(x) is a shift of 4 units to the left of f(x).

Remember that for a given function f(x), an horizontal shift of N units is given by:

g(x) = f(x + N).

If N is positive, the shift is to the left.If N is positive, the shift is to the right.

Then a shift of 4 units to the left is written as:

g(x) = log₃(x + 4).

Then the correct option is the last one.

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In the braces below, list all subsets of the set {6, 7, 8).

Answers

7, 7,5,6 lolll I thunk

Can someone lend a hand?

Answers

Answer:

B. y=-0.5x + 1

Step-by-step explanation:

first look at the slope: slop = rise over run. for every 2 units right, the point goes 1 unit down. so the slope if -1/2 or -0.5

next look at the y-intercept. the y-intercept of this graph is 1

plug these into the equation y= mx + b to get y = -0.5x + 1

Answer:

A. y = -0.5x + 1

Step-by-step explanation:

Hello!

An equation of a line is written in slope-intercept form: [tex]y = mx + b[/tex]

y = output, y-value, ordinatem = slope, rise over run, rate of changex = input, x-value, abscissab = y-intercept, starting value

Y-intercept

The y-intercept is found when x=0, or then the line crosses the y-axis.

Over here, we can see that the line crosses the y-axis at point (0,1), so the y-intercept is positive 1.

Slope

Slope is calculated by rise over run, or the ratio of how much the graph rises over how much the graph runs. Use points to determine how the graph changes. (For simple calculations, use integer points, such as (0,1) and (0,2)

[tex]\frac{\text{rise}}{\text{run}}[/tex][tex]\frac{-1}{2}[/tex][tex]-0.5[/tex]

Now that we have the slope and the y-intercept, we can plug those values to make our equation.

[tex]y = mx + b[/tex][tex]y = -0.5x + 1[/tex]

The correct answer is Option A. y = -0.5x + 1

Determine if the triangle with the given sides is acute, obtuse, or right.
7, 12, 16

Answers

Hope this helps! Let me know if you need anything!

Write the equation for a line with a y-intercept of 3 and an x-intercept of 5.

Answers

Answer:

it's 15

Step-by-step explanation:

just do ( 5× 2) = (10+5)=15

The perimeter of a rectangle is 78 cm. If the length is 24 cm, how wide is the rectangle?
Write an equation you can use to answer this question. Use w as your variable in the equation.

Answers

Answer:

15(cm)

Step-by-step explanation:

48 + 2w = 78

2w = 30

w = 15(cm).

From the diagram below, if

Answers

The possible values of x in the diagram are x = 25 and x = -1

How to determine the value of x?

The given parameters are:

∠DAB = x² - 24x∠DAC = 25

Both angles are congruent and adjacent angles.

So, we have:

∠DAB = ∠DAC

Substitute known values

x² - 24x = 25

Subtract 25 from both sides

x² - 24x - 25 = 0

Expand

x² + x - 25x - 25 = 0

Factorize

x(x + 1) - 25(x + 1) = 0

Factor out x + 1

(x - 25)(x + 1) = 0

Expand

x - 25 = 0 or x + 1 = 0

Solve for x

x = 25 or x = -1

Hence, the possible values of x are x = 25 and x = -1

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Put these numbers in order from least to greatest 1/8, -0.333, -1/7

Answers

Answer:

-0.333, -1/7, 1/8

Step-by-step explanation:

1/8 is the greatest because it is a positive number while the other two numbers are negative.

-0.333 or -1/3 is smaller than -1/7.

On the April 12 billing​ date, Michaelle Chappell had a balance due of 1451.54 on her credit card. From April 12 through May 11 ​, Michaelle charged an additional 393.03 and made a payment of 700.00

The finance charge on May 12 is?

Answers

Answer:

$1,144.57

Step-by-step explanation:

1,451.54 + 393.03 = 1844.57

1,844.57 - 700 = 1,144

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