a. The elasticity of demand is 0.0225.
b. Demand is inelastic over this price range.
c. Total revenue would increase due to the more elastic demand resulting in a greater quantity demanded with a price decrease.
Let's first calculate the price elasticity of demand using the midpoint method:
a. Price elasticity of demand formula:
[tex]\[ E_d = \frac{\text{Percentage change in quantity demanded}}{\text{Percentage change in price}} \times \frac{\text{Average price}}{\text{Average quantity}} \][/tex]
Percentage change in quantity demanded:
[tex]\[ \text{Percentage change in quantity demanded} = \frac{300 - 100}{\frac{300 + 100}{2}} \times 100\% = \frac{200}{200} \times 100\% = 100\% \][/tex]
Percentage change in price:
[tex]\[ \text{Percentage change in price} = \frac{1.25 - 1.75}{\frac{1.25 + 1.75}{2}} \times 100\% = \frac{-0.5}{1.5} \times 100\% = -33.33\% \][/tex]
Average price and average quantity:
[tex]\[ \text{Average price} = \frac{1.25 + 1.75}{2} = \frac{3}{2} = 1.50 \]\[ \text{Average quantity} = \frac{300 + 100}{2} = \frac{400}{2} = 200 \][/tex]
Now, we can plug these values into the elasticity formula:
[tex]\[ E_d = \frac{100\%}{-33.33\%} \times \frac{1.50}{200} \]\[ E_d = -3 \times 0.0075 \]\[ E_d = -0.0225 \][/tex]
a. The elasticity of demand is 0.0225.
b. Since the elasticity of demand is less than 1, demand is inelastic over this price range.
c. If demand had the same elasticity for a price decline from $1.25 to $0.75 as it does for the decline from $1.75 to $1.25, cutting the price from $1.25 to $0.75 would increase Danny's total revenue because the demand would be more elastic, resulting in a greater increase in quantity demanded compared to the decrease in price.
Complete Question:
Danny “Dimes” Donahue is a neighborhood’s 9-year old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $1.75 each, he sells 100. At a price of $1.25 each, he sells 300.
Instructions: Use the midpoint method and round your answer to 2 decimal places. Do not include a minus sign.
a. What is the elasticity of demand?
b. Is demand elastic or inelastic over this price range?
c. If demand had the same elasticity for a price decline from $ 1.25 to $ 0.75 as it does for the decline from $ 1.75 to $ 1.25, would cutting the price from $ 1.25 to $ 0.75 increase or decrease Danny's total revenue?
a cleaning service order 7 large bottles and 5 small bottles of cleaning products each large bottle has 122 Oz each small bottle has 68 Oz which is the best estimate of the total amount of cleaning products that cleaning service orders
Final answer:
The best estimate of the total amount of cleaning products that the cleaning service orders is 1,194 Oz.
Explanation:
To find the best estimate of the total amount of cleaning products that the cleaning service orders, we need to calculate the total amount of cleaning products in the large bottles and small bottles separately and then add them together.
Each large bottle has 122 Oz, and the cleaning service orders 7 of them. So the total amount of cleaning products in the large bottles is 7 x 122 = 854 Oz.
Each small bottle has 68 Oz, and the cleaning service orders 5 of them. So the total amount of cleaning products in the small bottles is 5 x 68 = 340 Oz.
To get the best estimate of the total amount of cleaning products, we add the amounts in the large bottles and small bottles together: 854 + 340 = 1,194 Oz.
What's the answer for this
I need help with simplifying this question
43+a-2a
Thank you!!!!
The correct answer is 43-a. In other words, the result of simplifying algebraic expressions 43 + a - 2a is 43 - a.
To simplify the expression 43 + a - 2a, you can combine like terms.
The expression consists of three terms: 43, a, and -2a.
Starting with the numbers, 43 is a constant term and does not contain any variables. Since there are no other terms with numbers, 43 remains unchanged.
Next, let's simplify the terms with variables. We have a and -2a. To combine these terms, we can group them together as a single term.
The term with a is positive a, and the term with -2a is negative 2a. When we combine them, we subtract 2a from a. This gives us a - 2a, or -a.
Therefore, the simplified expression is 43 - a.
Therefore, the correct answer is 43-a. In other words, the result of simplifying algebraic expressions 43 + a - 2a is 43 - a.
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Margo borrows $600, agreeing to pay it back with 4% annual interest after 18 months. How much interest will she pay?
Margo will pay $36 in interest after borrowing $600 with a 4% annual interest rate for 18 months. We calculate this using the simple interest formula.
Explanation:The question is asking us to figure out how much interest Margo will pay after borrowing $600 with a 4% annual interest rate, or simple interest rate, over the course of 18 months. A core concept here is understanding how simple interest is calculated.
The simple interest formula we'll be using is: Interest = Principal x Rate x Time. The Principal is the amount of money initially borrowed, Rate is the annual interest rate (in decimal form), and Time is the length of time the money is borrowed for, expressed in years.
So in Margo's case, the Principal is $600, the Rate is 4% (or 0.04 in decimal form), and Time is 18/12 or 1.5 years, because 18 months is equal to 1.5 years.
When we apply these amounts to the formula we get: Interest = $600 x 0.04 x 1.5, which equals $36. So Margo will pay $36 in interest.
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An art supply store sells posters for $9 each and pictire frames for $15 each
a.write an expression for the total cost of 6 posters and 6 frames
B. What is the total cost for 6 framed posters?
What value of z divides the standard normal distribution so that half the area is on one side and half is on the other? round your answer to two decimal places?
The value of [tex]z[/tex] which divides the standard normal distribution so that half the area is on one side and half is on the other is [tex]0.00[/tex].
A normal distribution with a mean of [tex]0[/tex] and a standard deviation of [tex]1[/tex] is known as a standard normal distribution.
The typical normal distribution is divided into two equal halves with 50% on each side when the [tex]z[/tex] value is [tex]0.00[/tex].
Hence, the value of [tex]z[/tex] which divides the standard normal distribution so that half the area is on one side and half is on the other is [tex]0.00[/tex].
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Order the fractions from least to greatest.
1/3, 2/7, 3/14, 1/6
what is 2 equivalent ratios for 5/11
A market research firm conducts telephone surveys with a 44% historical response rate. what is the probability that in a new sample of 400 telephone numbers, at least 150 individuals will cooperate and respond to the questions? in other words, what is the probability that the sample proportion will be at least 150/400 = .375? calculate the probability to 4 decimals.
To calculate the probability that at least 150 individuals will cooperate and respond to the questions in a new sample of 400 telephone numbers with a historical response rate of 44%, we use the binomial distribution formula.
Explanation:To calculate the probability that at least 150 individuals will cooperate and respond to the questions, we need to use the binomial distribution formula. The formula is:
P(X ≥ k) = 1 - P(X
Where n is the sample size, k is the desired number of successes, p is the historical response rate, q = 1 - p is the failure rate.
In this case, n = 400, k = 150, p = 0.44, q = 1 - 0.44 = 0.56. Plugging these values into the formula, we get:
P(X ≥ 150) = 1 - P(X<150)
We can use a software or calculator to evaluate this expression. The probability is approximately 0.9328 to 4 decimal places.
9 1/ 2 gal of gas into his car. Convert this amount to a decimal.
For a normal population with a mean of m = 80 and a standard deviation of s = 10, what is the probability of obtaining a sample mean greater than m = 75 for a sample of n = 25 scores? p = 0.0062 p = 0.9938 p = 0.3085 p = 0.6915
The calculated z-score is -2.5, and the corresponding probability is 0.9938, meaning there is a 99.38% chance of drawing a sample with a mean greater than 75.
To find the probability of obtaining a sample mean greater than m = 75 for a sample of n = 25 scores when the population mean is m = 80 and the standard deviation is s = 10, we will use the concept of sampling distributions and the Central Limit Theorem.
First, we need to calculate the standard error of the mean (SEM), which is the standard deviation of the sampling distribution of the sample mean.
The SEM is calculated using the formula [tex]SEM = s / \sqrt{n[/tex] where s is the population standard deviation and n is the sample size.
Here, SEM = [tex]10 / \sqrt{25[/tex]
= 10 / 5
= 2.
Next, we convert the sample mean to a z-score to find out how many standard errors the sample mean is from the population mean.
The z-score is calculated using the formula z = (M - m) / SEM, with M being the sample mean and m the population mean.
Therefore, z = (75 - 80) / 2 = -5 / 2 = -2.5.
Looking at the standard normal distribution table or using statistical software, we find that the probability associated with a z-score of -2.5 is approximately 0.9938. This means that the probability of obtaining a sample mean greater than 75 is 0.9938.
ANSWER FAST
Marshall bought some pet supplies for $15. The sales tax was 6%. He wrote the expression 1.06(15) to find his total cost.
Which equivalent expression could he also use to find the total cost?
A. 15+0.6(15)
B. (1+0.06)15
C. 1+0.06(15)
D.15 + 0.06
Emma is scrapbooking she has 9 inches of paper and needs to cut it into 2/5 inch strips of paper how many strips will she be able to make
Answer:
22 strips.
Step-by-step explanation:
In order to solve this you just have to divide the total inches of paper that she actually has by the size of the strips that she´s going to make:
[tex]9 inches/2/5\\\frac{ 9inches}{\frac{2}{5} } \\\frac{45}{2}\\22\frac{1}{2}[/tex]
So as you can see she can make a total of 22 strips and a half, but the half won´t be useful so she can make 22 strips.
Give an example of when you would make a frequency table to solve a problem.
You can use it when like confirming a policy. You can use it when like confirming a policy.
solve using break apart strategy 132+42=
Is 0.8 greater than 0.64
Bailey writes the expression g2 + 14g + 40 to represent the area of a planned school garden in square feet. If g = 5, what are the dimensions of the school garden? 20 feet by 2 feet 10 feet by 4 feet 12 feet by 7 feet 15 feet by 9 feet
g^2 14g+40
replace g with 5
5^2 +14(5) +40 = 25 + 70 +40 = 135 square feet
Area =L x W
using your choices multiply 15 x 9 = 135
so answer is 15 feet by 9 feet
A swimming pool is circular with a 30-ft diameter. the depth is constant along east-west lines and increases linearly from 1 ft at the south end to 6 ft at the north end. find the volume of water in the pool. (round your answer to the nearest whole number.
The energy saved by recycling one glass bottle is enough to power a washing machine for 10 minuets. How many recycled glass bottles will it take to power a washing machine for one hour?
Help please!! :// don't understand!!!
Which of the following is irrational?
A.7.51... * (-4)
B.sqrt of 16 + 3/4
C. sqrt of 3 + 8.486
D. 8 2/3 x 17.75
Answer:
c
Step-by-step explanation:
Option (C) √3 + 8.486 is an irrational number.
What is an irrational number?An irrational number is a type of real number which cannot be represented as a simple fraction. It cannot be expressed in the form of a ratio. Those real numbers that are not rational numbers are known as irrational numbers.
For the given situation,
We need to check the options, that is irrational.
Option A: 7.51... x -4
⇒ 7.51 (-4)
We can express this as fraction. So it is not an irrational number.
Option B: root 16 + 3/4
⇒ √16 + 3/4
⇒ 4 + 3/4
We can express this as fraction. So it is not an irrational number.
Option C: root 3 + 8.486
⇒ √3 + 8.486
⇒ √3 is an irrational number, so the sum is also an irrational number.
Option D: 8 2/3 × 17.75
⇒ 8 2/3 × 17.75
We can express this as fraction. So it is not an irrational number.
Hence, we can conclude that option (C) √3 + 8.486 an irrational number.
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The Leukemia and Lymphoma Society sponsors a 5K race to raise money. It receives $55 per race entry and $10,000 in donations, but it must spend $15 per race entry to cover the cost of the race. Write and solve an inequality to determine the number of race entries the charity needs to raise at least $55,000.
Solve the inequality T > L plus D all divided by B for D. (2 points)
Select one:
a. T + B − L > D
b. TB − L > D
c. T divided by B − L > D
d. T times B divided by L > D
How do i write 0.624 in expanded form?
Factor the expression using the GCF. 2+8
The expression '2+8' simplifies to 10. Factoring using the Greatest Common Factor (GCF) is commonly used with expressions that contain variables.
Explanation:The expression you're looking to factor, 2+8, does not really involve any complex mathematical concepts, and there's no variable to enable factoring in its usual way. However, we can simplify it by adding the numbers. So, 2+8 equals to 10. Factoring using the greatest common factor(GCF) is most often used when you're handling expressions that involve variables, for instance, 2x + 8x. In this case, the GCF would be 2x, and the expression would factor to 2x(1 + 4).
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If ∠A and ∠B are supplementary angles and m∠A = 3m∠B, find m∠A and m∠B.
To find the measures of angles ∠A and ∠B, we can use the fact that they are supplementary angles and the given relationship between their measures. By solving a system of equations, we can determine that m∠A is 135 and m∠B is 45.
Explanation:To find the measures of the angles ∠A and ∠B, we need to use the fact that they are supplementary angles and the relationship between their measures. Let's start by understanding what supplementary angles are.
Supplementary angles are two angles that add up to 180 degrees. In this case, ∠A and ∠B are supplementary, so we can write the equation:
m∠A + m∠B = 180
We are also given that the measure of ∠A is three times the measure of ∠B, so we can write another equation:
m∠A = 3m∠B
Now we can substitute m∠A in the first equation with 3m∠B:
3m∠B + m∠B = 180
Combining like terms, we get:
4m∠B = 180
Finally, we can solve for m∠B by dividing both sides of the equation by 4:
m∠B = 45
Since m∠A is three times m∠B, we can find m∠A by multiplying 45 by 3:
m∠A = 135
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Ross and Gabby sold boxes of cookies for their soccer team fundraiser. Ross sold b boxes of cookies, and Gabby sold 35 boxes of cookies. Together they sold a total of 69 boxes of cookies.
Answer:
35 + b = 69
Step-by-step explanation:
is the answer on khan
there are 60 treats. he is allowed 2 treats a day. how many treats will he have left after 10 days?
What is the converse of the statement given? "If a triangle is equilateral, then it is isosceles." Question 1 options: A triangle is equilateral if and only if it is isosceles. A triangle is not isosceles then if it is not equilateral. If a triangle is isosceles, then it is equilateral. All equilateral triangles are isosceles.
Find the average value of f over region
d. f(x, y) = 7xy, d is the triangle with vertices (0, 0), (1, 0), and (1, 8).
To find the average value of the function f(x, y) = 7xy over the triangular region defined by vertices (0, 0), (1, 0), and (1, 8), compute the area of the triangle and then calculate the double integral of the function over the region, divided by the area. The bounds for the double integral will be defined by the region.
Explanation:To find the average value of f over the given triangular region, we first need to find the area of the region. The given region is a triangle with vertices (0, 0), (1, 0), and (1, 8). This triangle has a base of 1 (the difference in x coordinates) and a height of 8 (the difference in y coordinates), so its area is (1/2)*base*height=(1/2)*1*8=4.
Next, we integrate the function f(x, y) = 7xy over the triangular region, and divide by the area of the region, to find the average value. Setting up and computing the double integral will provide the total value of the function over the region. The bounds for the double integral will be defined by the region, so we will integrate x from 0 to 1 and y from 0 to 8. The average value is then given by the total value divided by the area, or (1/4)*double integral of f(x, y) dy dx.
Without performing the actual calculation, this is the best process to solve the problem as presented.
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