The following graph shows the market for sprockets in a local hardware store.
a) identify whether the price of sprockets from $4 to $3 is elastic, unit elastic, or enelastic. Explain.
b) what is the price of sprockets that maximize 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?
Answers
The fall in price leads to rise in total revenue and this means the demand is elastic.
How to illustrate the information?Price of widgets= $8
Total revenue= P*Q= 8*12= $96
Price= $7
Total revenue= 7*16= $112
Fall in price leads to rise in total revenue, it means demand is elastic.
b. Price = $7 maximizes the total revenue. Total revenue when price=$7, total revenue = Price* quantity
= $7 × 16=$112.
c. When the price is equal to $9, the demand is elastic. Therefore, there should be a decrease in price in order to increase total revenue.
d. Price elasticity of demand= ((96-112)/(112+96)/2)) ÷((8-7)/(8+7)/2))
= -2.14
This is an elastic demand.
e. When price=$6, Quantity=18
When Price=$5, Quantity= 20
Price elasticity of demand= ((20-18)/(20+18)/2)) ÷((5-6)/(5+6)/2))
= - 0.58
This is an inelastic demand.
f. Total revenue falls from $108 to $100 when the price falls from $6 to $5.
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Related Questions
Compared to a short-term investment, a long-term investment is generally considered
Answers
Answer:
Compared to a short-term investment, a long-term investment is generally considered to have similar returns. to be equally as risky. to have greater risk. to offer lower returns
Explanation:
Answer:
The answer is C. to have greater risk
Explanation:
What inspired the blockbuster TV series The Crocodile Hunters and led to a complete body of work for Steve Irwin and his wife?
Answers
Answer:
The Crocodile Hunter is a wildlife documentary television series that was hosted by Steve Irwin and his wife, Terri. The show became a popular franchise due to Irwin's unconventional approach to wildlife. It spawned a number of separate projects, including the feature film The Crocodile Hunter: Collision Course and two television spinoffs: Croc Files and The Crocodile Hunter Diaries. The series was presented on Animal Planet, becoming the network's highest-rated series at the time, and was in international syndication on networks worldwide.[4] The series aired 64 episodes during five seasons, from 1997 through 2004, with a pilot episode in 1996 and 13 specials into 2007; with a nearly 11-year run, the series is the second longest-running program of any Discovery Communications network, behind MythBusters.
Explanation:
The final line of "Bartleby, the Scrivener" – "Ah, Bartleby! Ah, humanity!" -
can best be read as suggesting:
O A. the narrator is tired.
B. the narrator feels guilty about his treatment of Bartleby.
C. Bartleby is an unusual case and not representative of humanity in
general.
D. the narrator feels Bartleby's fate may also be humanity's.
O E. the narrator thinks Bartleby is unimportant.
Answers
Answer:
D
Explanation:
Explain ONE cultural or economic development in the late twentieth century that would explain Barton’s argument about the “impending decline of the West” in the second paragraph.
Answers
One educational incident that keeps expounding Barton's debate about the "forthcoming decline of the West" is the rise of pluralism and the deterioration of a joint sense of Western similarity.
How does this help Barton's debate?As nations enhanced more various, the usual educational principles and ideas that were based on Western culture were progressively questioned. \
\This, in proper sequence, experienced to a despondency in Western organizations and a increasing sense of doubt about the future.
Additionally, financial worldwide integration and the shift of business-related capacity from the West to arising markets like China too provided to Barton's debate about the decline of the West.
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I WILL GIVE BRAILY PLUS 20 points only if it is wrote out correctly and not just told what I already know ,
Im am becoming a psychologist and I need some help, I never as for help I help others. Any ways
the question is How will your attitude to the learning process help or hinder the achievment of your career goal?
Do you need to make some adjustments?
why or why not. you mess on my page just for points inwill report you.
Answers
Answer:
1.it was on my attitude to the learning process but still its just based on the persons learning process, its just the same . pwede rin naman if you want to have the achievement of your career goal.
yes, sometimes i need some adjustments because you need to adjust that surrounds you not the others who needs to adjust wanna know why? it would be hard for you if theyre adjust , you need to be the first one to adjust if youre just new in that enviromment .
the answer is just based on my mind
btw sorry for grammatical errors. and wrong spells
PLEASE HELP ASAP!
What must a person have in order to overcome a sense of helplessness that is associated with the repeated occurrence of negative events?
A sense of personal control
Learned helplessness
An ability to be introspective
Reciprocal determinism
An external locus of control
Answers
Answer:
The answer is "A sense of personal control
".
Explanation:
In the given question, the sense of personal control is also known as the intellectual connection with the friendly underlying conditions and enthusiastic trouble. It is an individual control for the discernment like one's reality is formed independently and activities. It must control the individual need to defeat feeling with the powerlessness which relates with the rehashed event of negative occasions.
Answer:
a sense of personal control
could you also give the formula you used
Answers
The marginal cost of the sixth boat will be $2000.
How to calculate the marginal costIn the question, we are told that the fixed and variable costs for 5 units of the sailboats are $4,000 each which equals $8000 in the summation.
Now for the sixth boat, the marginal cost can be obtained by subtracting the total cost for the 5 units with the new cost of $10,000. When we subtract the new cost from the old cost, we will get $2,000 and this is the marginal cost for the sixth boat.
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What do behaviorists emphasize in their approach to personality?
Answers
Answer:
Explanation:
Behavioral theorists view personality as significantly shaped and impacted by the reinforcements and consequences outside of the organism. People behave in a consistent manner based on prior learning.
the market for yam is in equilibrium ,show how the following events will affect the market. 1. Research has shown that eating more yam cut the risk of cardiovascular diseases. 2. there is an increase in the cost of fertilizer
Answers
Answer:
Scenario 1 ⇒ Demand for yam will increase.
If people found out that eating yams reduced the risk of them getting cardiovascular diseases, they would demand more of it so they can benefit from this reduced risk.
This will lead to a rise in price because the Demand curve will shift to the right and intersect with the Supply curve at a higher equilibrium price.
Scenario 2 ⇒ Supply of yam will decrease.
With the cost of fertilizer increasing, farmers of yam will have to incur more cost to be able to produce yams. They will therefore reduce their production levels so that they incur less cost thereby decreasing supply.
This decrease in production levels will lead to a rise in price because the supply curve will shift to the left and intersect with the Demand curve at a higher equilibrium price.
What proofreading and revision suggestions did you make to improve the writing sample? How did this process help you become a better writer?
Answers
The proof reading and suggestions for improving a writing sample are:
Correcting grammar and punctuation errors, improving sentence structure and clarity, and enhancing vocabulary and word choice in the writing sample.
By identifying and correcting grammar and punctuation errors, the writing became more grammatically correct and easier to understand.
Improving sentence structure and clarity involved rephrasing or rearranging sentences to enhance readability and eliminate unnecessary words or phrases.
Enhancing vocabulary and word choice expanded my linguistic repertoire and made my writing more sophisticated and engaging. By honing my writing skills, I am better equipped to convey ideas effectively and engage readers, improving my overall writing ability.
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A computer has generated a gender-neutral face for a video game character. How would adding an angry expression affect people’s perception of the face’s gender?
Anger would appear as feminine if subtle.
Anger would make the face appear male.
Anger would not affect perception of gender.
Anger would make the face appear female.
Anger would appear masculine if extreme.
Answers
Which expression is a factor of x2 – 3x – 4?
Answers
Answer:
(x-4)(x+1)
Explanation:
Label colonies and settler colonies of the following states: Britain, France, Germany, Italy, Spain, Portugal, Belgium, Japan. Also include major resources that were gained from each colony. Next, label places that experienced economic imperialism (weren’t colonized but were controlled economically by other countries). Finally, label and describe at least 4 examples of anti-imperial resistance (one from India, one from China, one from somewhere in Africa, and one from the Americas). Hint: use your objectives to help you.
Answers
The below labelings and explanations are what is requested:
The Labels and ExplanationsGreat Britain owned both colonies and settler colonies, for example India, Australia, Canada, and South Africa.
The resources procured from these places encompass tea, cotton, diamonds, and gold.
French colonies situated in Africa, Southeast Asia, and the Caribbean facilitated the collection of rubber, oil, coffee, and sugar.
German colonies located in Africa, Asia, and the Pacific led to the harvesting of rubber, timber, and diamonds. Italy's colonial ownership in Africa and the Mediterranean yielded cotton and coffee.
Spanish rule in Latin America and the Philippines acquired gold, silver, and sugar, whereas Portugal's authority in Brazil, Africa, and Asia provided gold, diamonds, and spices.
As per Belgium's possessions in Africa, including the Congo, they gained access to rubber and ivory. Japan had control over Korea and Taiwan reaping coal and iron as a result. Furthermore, economic imperialism took place in China, Iran, Mexico, and Ethiopia while anti-imperial resistance was witnessed in India's Indian Rebellion of 1857, China's Boxer Rebellion of 1899-1901, Africa's Mau Mau Uprising, and Cuba's Revolution of 1959.
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How did German territorial losses lead to World War II?
The Soviets were angry about not receiving territory, leading to expansion attempts in Eastern Europe.
Ethnic divisions in Czechoslovakia caused conflicts between competing international alliances.
Germans resented losing territory to the new Poland, which fueled nationalistic tendencies.
French grievances about Germany’s nonpayment of war damages caused France to demand more land.
Answers
The correct answer is C) Germans resented losing territory to the new Poland, which fueled nationalistic tendencies.
German territorial losses lead to World War II in that Germans resented losing territory to the new Poland, which fueled nationalistic tendencies.
After losing World War I, German was forced to accept the terms of the Treaty of Versailles. As part of the peace treaty, Germany was forced to give territory to Poland, Belgium, and Czechoslovakia. Of course, Germany was forced to pay reparations for the damage caused during the war.
These factors and the fact that the Weimer Republic did not work out as expected, created the conditions for the rise of the Nazi Party and the arrival of Adolph Hitler as the leader of Germany in 1933.
Answer:
C is correct, tried it
Explanation:
South Africa
NA
VE
Public Domain
Which of the following countries are compact states? (1 point)
O Malawi and South Africa
O Somalia and Liberia
O Nigeria and Liberia
O Cameroon and Somalia
O The Gambia and Malawi
will give brainliest!! please help
Answers
Answer: Nigeria and Liberia
Explanation:
A compact state is one where the distance from the center of the country is more or less the same to all the boundaries of the country.
Nigeria is a compact state with the center being in the capital of Abuja. Its compact nature allows for roads to be built easier. Liberia to the west of Africa is also a compact state with its shape being decided by European powers when they were scrambling for Africa in the Berlin Conference.
why does school exist?
Answers
Why school as a concept, our schools in particular and our classrooms exist is a matter of great importance to designing classrooms that teach (higher order thinking) skills and successfully challenge students. We do it so we can challenge students' existing skills and help them grow as a result.
If not then it’s because people want to hurt us by making us go to school.
Answer:
Explanation:
If this is a real question the the answer is that we are teachers for reasons bigger than ourselves: to develop our community, to break generational poverty, to develop mutual respect and thinking and reasoning skills, to help students grow, and to transform their thinking and their knowledge and their ability into something greater
if not then people want us to depressed all day everyday
Ito ang unti unting paglipat ng kapangyarihan sa mga Pilipinong mamuno sa sariling bansa a. Pinasyon b. Batas jones c .Ang Saligang Batas ng 1935
Answers
Answer:
A. PinasyonExplanation:
#nasa pic ang explanation mga lodz
#carry on learning
Which type of query join is used within a single table?
O inner join
O outer join
O self join
O right join
Answers
Psychology is the scientific study of human behavior and mental processes. Which of these research methods
are used most often by modern psychologists?
Select one:
a. Experimentation and observation
b. Causation studies
c. Interviews
d. Problem solving
Answers
Answer:
C. Interviews.
Explanation:
psychologists has an interview with patients and listening for an hour about what's the issue or consulting situation. He or She make questions to the patient and help him/ her to find a way to feel better or find a solution .
Between last year and this year, the CPI in Blueland rose from 100 to 110 and the CPI in Redland rose from 100 to 104. Blueland’s currency unit, the blue, was worth $0.75 (U.S.) last year and is worth $0.60 (U.S.) this year. Redland’s currency unit, the red, was worth $0.50 (U.S.) last year and is worth $0.40 (U.S.) this year. Consider Blueland as the home country.
a. Calculate Blueland’s nominal exchange rate with Redland.
Instructions: Enter your response rounded to one decimal place.
Last year:
blue
red/blue
This year:
red/blue
The percentage change in Blueland’s nominal exchange rate from last year to this year is:
Instructions: Enter your response as a whole number. Be certain to enter "0" if required.
%
b. Calculate Blueland’s real exchange rate with Redland.
Instructions: Enter your response rounded to two decimal places.
Last year:
red/blue
This year:
red/blue
The percentage change in Blueland’s real exchange rate with Redland from last year to this year is:
Instructions: Enter your response rounded to two decimal places. Be certain to enter "0" if required.
%
c. Relative to Redland, you expect Blueland’s exports to be
(Click to select)
by these changes in exchange rates.
Answers
When the CPI in Blueland rose from 100 to 110 and the CPI in Redland rose from 100 to 104, the nominal exchange rate of blue to red is 0.8333.
How to calculate the valueNominal exchange rate = (Price of currency A in currency B) / (Price of currency A in home currency)
The price of the red in blue this year is:
Price of red in blue = 1 / (exchange rate of blue to red)
Exchange rate of blue to red last year = 1
Exchange rate of blue to red this year = 1.2
Now we can calculate the price of red in blue this year:
Price of red in blue this year = 1 / Exchange rate of blue to red this year = 1 / 1.2 = 0.8333
Therefore, the nominal exchange rate of blue to red is 0.8333.
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How did coal mining affect the development of the steam locomotive? please put detail into answer
Answers
Answer:
The steam locomotive changed transportation by allowing us to ship goods and travel faster than ever before. It gave us the ability to create new industries and mold transport into what it has become today. The steam locomotive was an icon of the industrial revolution in many countries throughout the world.
Explanation:
Rank the following regions from least developed (1) to most developed (10)
Answers
The following are ranked as follows using HDI.
This rating is based on the Human Development Index (HDI), which considers things like life expectancy, education, and income. Other rankings may differ based on the indications and criteria employed.
The Human Development measure is a statistical composite measure combining data such as life expectancy, education, and per capita income that is used to classify nations into four levels of human development.
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Complete the statement below.
In a neutralization reaction,
and hydroxide ions react to form
.
Answers
Answer:
Salt and water.
Explanation:
Neutralization is a chemical reaction in which acid and base are introduced together to form salt and water. In this reaction hydrogen + ions react with hydroxide - ions to form the salt. This is an exothermic reaction as heat is released during this chemical reaction.
Answer:
hydrogen and water
Explanation:
The routine mistreatment of people based on their social identity group is
called
OA. self-definition
OB. oppression
O C. socialization
OD. stereotyping
Answers
Answer:
the answer is B oppression
pesticides aee toxic to ___.
a) weeds
b) only pest insects
c) plants and animals
d) food crops
e) soil
Answers
C - Plants and animals
Explanation:
According to research, pesticides can harm more than just “pests.” So, not only can they harm plants and animals, they can harm other people.
Answer:
Plants and Animals
Explanation:
what grade does 5th graders be in?
Answers
that you do on purpose friend
Which of the following is an example of a spontaneous conversation?
OA child asking a question as they're getting ready for bed
O Parents doing a daily school agenda check
OA parent and teen having a serious conversation
O A family discussing a challenging and difficult topic
Answers
Answer:
D
Explanation:
I'm what sense can ethics be regarded as a system of knowledge?
Answers
A book of ehtics is a history system of knoledge
Attempt 1 of 2
Use the graph below to answer question 7.
Average Costs
18
14
10
Q
6
2
0
5
20
25
10 15
Quantity
Which of these firms is most likely to have an LRATC shaped like the one
shown above?
tiladi
Answers
Explanation:
ver un ratito la respuesta de esto sería una como de 20:30 Porque da lo mismo resultado como las otras Cómo es matemáticas pero son números
Explain how you would filter the dog dataset traversal to have a filtered list of dogs who live long lives
Answers
Answer:
This can be done using Excel. Filtering lists means selecting from the entire list only those records whose field values satisfy the specified conditions. In our case, we need to select dogs that live long.
MS Excel allows you to perform filtering with three tools that have different functionality.
Excel has three tools for filtering lists - AutoFilter, which is applied in case of simple selection conditions, Custom AutoFilter, and Advanced filter for more complex selection conditions.
Explanation: