Using the midpoint method, the price elasticity of demand for corn between the prices of $10 and $8 per bushel is , which means demand is between these two points. Therefore, you would tell the grower that her claim is , because total revenue will as a result of the spell of good weather.
Answers
Answer and Explanation:
The computation is shown below:
Price elasticity of demand is
= (Q2 - Q1 ÷ {(Q2 + Q1) ÷ 2}) × {(P2 - P1 ÷ 2) ÷ (P2 + P1)}
where,
Q2 = 30
Q1 = 25
P2 = $10
P1 = $8
Now put these values to the above formula
So, the price elasticity of demand is 0.82
So, Demand is inelastic.
Her claim is correct.
So, the total revenue will Decrease.
Total revenue at the time of prior smell of good weather
= 10 × 25
= 250
And, the Total revenue at the time of after smell of good weather
= 8 × 30
= 240
Therefore, you would tell the grower that her claim is correct because total revenue will decrease as a result of the spell of good weather.
Based on the complete question, it should be noted that the price elasticity of demand is 0.82. in this case, since the price elasticity of demand is less than 1, it's an inelastic demand.
Also, it implies that her claim is correct. The total revenue from the information given will then be:
= 10 × 25 = 250 and 8 × 30 = 240.
Therefore, there's a decrease in revenue.
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Related Questions
Career Readiness Identify the examples of interests. Check all that apply. Doris wants to learn how to write poetry. Misty wants to take a class to learn about different cultures. Leroy is well liked by his classmates. Marcus treats other people with respect. Cora works hard.
Answers
Answer:
Doris wants to learn how to write poetry.
Misty wants to take a class to learn about different cultures.
Explanation:
Identify the examples of interests. Check all that apply.
Doris wants to learn how to write poetry.
Misty wants to take a class to learn about different cultures.
Leroy is well liked by his classmates.
Marcus treats other people with respect.
Cora works hard.
Answer:
1 and 2
A and B
omg people are so sensetive
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Answer:
ikrrr
Explanation:
Question 2 Multiple Choice Worth 10 points)
(01.03 LC)
Which statement explains a proportional tax system?
The higher the income, the higher the tax rate.
The tax rate is the same for all income levels.
The lower the income, the higher the tax rate.
The tax rate is adjusted for categories of income.
Answers
Answer:
The higher the income, the higher the tax rate.
Explanation: The more money they make the more money the state will take form you
Answer:
The higher the income, the higher the tax rate.
Explanation:
I did the test and got it right.
After submitting a résumé electronically, how long should you wait before following up with an employer? a. 1-2 days b. 1-2 weeks c. 2-3 days d. 4-5 days
Answers
Answer:
2-3 days edge 2020
Explanation:
After submitting a résumé electronically, One should wait before following up with an employer for 2-3 days. Thus the correct option is C.
What is Resume?A Resume is referred to as a document that is used at the time of applying for a new job containing all the important details about a candidate which can be utilized in a job application.
A resume contains information about personal details, professional details about previous job roles and experience as well as academic qualifications. It also provides information about the skills and abilities of the candidate.
It is said that when a candidate applies for a job and submits a Resume electronically one should wait for two-three days before following up with the employer as recruitment is a complex process and it takes time to review a number of resumes.
This Resume is used to frame a visual image of a candidate in employers' eyes which helps them to establish a positive response from them.
Therefore, option C is appropriate.
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One major reason businesses seek investment is to:
A. increase the opportunity cost of making new products.
B. boost their productivity by improving their inputs.
C. give them the ability to ignore production possibilities curves.
D. reduce their need for consistent financial growth.
Answers
One major reason businesses seek investment is to boost their productivity by improving their inputs. Option B is correct.
What is Investment?A purchase made with the intention of creating income or capital growth is known as an investment. An asset's value increasing over time is referred to as appreciation. When a person invests in a good, they do not intend to utilize it as a source of immediate consumption, but rather as a tool for future wealth creation.
An investment always involves the expenditure of some resource today time, effort, money, or an asset—in the anticipation of a future return greater than the initial investment.
For instance, an investor might buy a financial asset right away with the hope that it would provide income later on or that it can be sold for a profit at a higher price.
Thus businesses seek investment is to boost their productivity by improving their inputs in order to maximize wealth of owners of the business.
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Which of the following most drove the governments of European nation states in colonizing the Americas?
1. economic opportunities
2. competition with each other
3. political and religious liberty
4. none of the above
Answers
Answer:
2. competition with each other
Explanation:
Here the colonization refers to a process where the power of the central system dominates the land and its parts or its influence.
Since in the question it is mentioned that the European nation government colonized with the Americas so it represents that they are competitive each other to attain the maximum market share in the market place
Therefore the option 2 is correct
Hence, all the other options are wrong
When creating a budget, log fixed expenses
before income.
after income.
after savings.
at the top.
Answers
Answer:
after income
Explanation:
A budget is an estimation of revenue and expenses over a specified period of time. Therefore, log fixed epenses after income. After income is the answer.
after incomeWhen should you log fixed expenses?One"s fixed expenses should be deducted first from your budget. If one has money left over at the end of the month, then one did well in keeping one's variable expenses in check.
Therefore, log fixed expenses after income.
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what is the net pay?
Answers
Answer:
its the last one i think
Explanation:
1. What are some things that the study of economics is not?
Answers
Which of the following characteristics describe Millennial employees, in general?
A. Hesitant to question their superiors.
B. Globally conscious.
C. Less educated than their peers.
D. Technologically inept.
E) Hesitant to challenge the status quo.
Answers
Answer:
B. Globally conscious.
Explanation:
Millenials are the generation of people born in the 80s and 2000s, and represent people who were born at a time when technology and the internet were strengthened, which caused a revolution in the form of social interactions around the world.
The internet revolutionized business, due to the speed in the exchange of information, it was possible for business to expand and integrate, which generated globalization, which is the interaction of businesses between countries in search of competitive and strategic advantages in the global market.
Therefore, it is correct to say that the generation of millennials are more globally aware employees, due to the fact that they have grown up in a cultural and social environment marked by the use of the internet and the availability of information, which makes them more aware about business. global interactions, multicultural interactions and more possibilities to understand the market and contribute to its development.
What includes a physical part of a computer
Answers
Answer:
the physical parts of a computer are called hardware
hope this helps
how old is Michael the fox
Answers
Hope I got it right for you good luck
A business owner must decide whether to improve the benefits she offers her
employees. She calculates that improving benefits will cost the company an
extra $1,000 per employee each year. This could prevent her from hiring as
many new employees as she would like over the next few years. On the other
hand, better benefits will help her hire more qualified employees who will stay
with the company for longer.
The potential value of hiring more qualified employees at the cost of more
expensive benefits is an example of a(n)
A. margin
B. scarcity
C. trade-off
D. incentive
Answers
Answer: C. trade-off
Explanation:
If the business owner hires more qualified employees at the cost of paying more for expensive benefits, this is considered a trade-off because she is trading higher costs for more quality.
Trade-offs arise as a result of scarcity. Since resources (money for benefits in this case) are limited, the business owner would have to trade one thing for another instead of being able to get everything she wants. The thing she will exchange will be more expensive benefits for better quality employees.
Which of the following is not a cause for real wage rigidity?
a. minimum-wage laws.
b. unemployment insurance.
c. union power.
d. efficiency wages.
Answers
If you know you are at risk of becoming unemployed, you should _____. a. wait until you officially lose the job to worry b. get additional education to learn new skills c. spend all your money while you are still making it d. ignore the economy, because it is always changing
Answers
Answer:
B is the smartest option
The correct option is B. If you know you are at risk of becoming unemployed, you should get additional education to learn new skills.
When done properly, skill development can lower unemployment and underemployment, boost productivity, and raise living standards. It makes economic sense to assist people in expanding and updating their skill sets.
What is the importance of skills?Enhances communication, time management, and negotiation abilities, as well as the ability to expand one's professional network. Talent Development: Skills are something that can be learned. People can find, develop, and nurture their intrinsic talent in the preferred sector with the aid of skill training.
Fundamentally, skills development helps people to pick up new talents in order to find employment and possibly launch a lifetime career. Youth are especially vulnerable to unemployment in our country, which affects 29% of the population; 55.2% of those between the ages of 15 and 24 are jobless.
The best choice is B. If you are aware that you could lose your job, you should continue your education to pick up new skills.
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Putting money into more than one kind of investment at a time is called liquidity. sunken cost. diversification. compound interest.
Answers
Answer:
diversification
Putting money into more than one kind of investment at a time is called diversification.
What is diversification?Diversification is the process of investing in diverse opportunities so as to reduce non-systemic risks. For example, if a person buys the stock of a health care company, in order to diversify, the person might invest in the stocks of an automobile company.
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√96+√200-√10000 can anyone please answer this
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Answer:
-76.0599054051
Countries the government controls the mos
activities:
• health
education
defence
• public transport
water supply
. electricity supply.
Activity 2.4
For each of the examples of key industries or activities listed above, suggest three possible
reasons why the government of a country might decide to own and control that industry or
service.
Answers
Answer:
health education defense
What does Rashad’s conversation with his father on pages 7-8 reveal
a. True
b. False
Answers
Answer:
True
Explanation:
Sleeping mats for children must be one inch thick and must be:
Discarded if torn
Repaired immediately if torn
Used by the same child each time
Cleaned and disinfected monthly
Answers
Answer:
Option C, Used by the same child each time, is the right answer.
Explanation:
Used by the same child each time is the correct answer because if the same child uses the mat then there will be a lesser risk of infection or if the mat is used by several children then the infection and hygiene problem may occur. Moreover, other options like repairing mats, changing the mat if torn and disinfected monthly will also be considered but the concrete or primary step is to use one mat only for one child in order to save from infections.
What is disposable income?
Answers
Answer:
Disposable income, also known as disposable personal income (DPI), is the amount of money that households have available for spending and saving after income taxes have been accounted for. Disposable personal income is often monitored as one of the many key economic indicators used to gauge the overall state of the economy.
Explanation:
DPI=Personal Income−Personal Income Taxes
iam a 4 tail fox im a chef and a medic what am i
Answers
Answer:
Explanation:Surgeon
Omega technology is starting production of a new supercomputer for use in large research universities. They have just completed the first unit, which took 110 man-hours to produce. Based on their experience, they estimate their learning percentage to be 87 percent. How many man-hours should they expect the second unit to require to manufacture?
Answers
Answer: 95.7 hours
Explanation:
Let's assume that the second unit will require y labor hours.
Learning percentage = 87% = 0.87
For production of two units, the learning percentage will be:
= y/110
We then equate and this will be:
y/110 = 0.87
y = 110 × 0.87
y = 95.7
Therefore, 95.7 hours will be needed to make the second unit
"A 67-year old woman has heavily invested her portfolio in growth securities. She realizes that as she approaches retirement, she needs to reallocate her portfolio for more income. However, she does not want to give up the growth objective. What would be the best investment recommendation for the funds that she will reallocate away from growth securities in her portfolio?"
Answers
Answer: Income stocks and blue-chip stocks
Explanation:
Income stock could be defined as an equity security that pays often with increase in dividends. They also offer a high yield which generates an overall returns. Individuals get rich off income stock but must be willing to take risk.
Blue-chip stock are shares of large and well known organization with an astute financial performance over the years, they've been capable of enduring the market with it's storms. They are known for giving high returns in a good market condition.
The best investment recommendation for the funds that she will reallocate away from growth securities in her portfolio is income and blue Chip stock based on what they offer.
Statutes are considered a primary source of law.
O True
O False
Answers
Answer:
This is True
Good luck!!
Answer:
TRUE
Explanation:
edge 2022
You own a coffee shop where a cup of coffee sells for $2.99. Your cost on the cup of coffee is $0.90. Calculate the margin
per cup of coffee.
Answers
Answer:$2:09
Explanation: If you subtract the 2 you will get your answer! :)
(Sorry I just read the question wrong)
The margin per coffee cup is $2.09
What is cost?In production, research, retail, and accounting, a cost is the value of money that has been used up to produce something or deliver a service. In business, the amount of money expended to acquire something is considered as cost.
Margin per coffee cup = Selling Price - Cost Price
= $(2.99-0.90)
= $2.09
Therefore the margin on selling one cup pf coffee is $2.09.
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Weekly activity reports by an agent to a client should include:_______.
Answers
Answer:
- Number of enquiries
- Number of product displays
- Advertising done within the week
- Open houses available
- Number of open house visitors
- Comments made by other agents and potential buyers
Explanation:
Weekly activity reports are given to clients to show weekly progress on a job activity.
It ensures that there is no failure in objectives that will affect the monthly activity.
When it is identified that activities for the week are deviating from set goals and objectives, it is easy to correct the error so as to minimise the effect on monthly performance.
What types of information does a W-2 form contain? Check all that apply
Answers
Answer:
Normally "check all that apply" is followed by answers to check...
Explanation:
A W-2 is a Tax statement
What are examples of Science, Technology, Engineering, and Mathematics careers? Check all that apply.
Answers
Answer:
Zoologist
Chemist
Robotics Engineer
Explanation:
Zoology studies the behavior, physiology and classification of animals. Chemistry deals with the substances that form matter, their properties and their interaction. Robotics engineering involves designing and creating robots to perform certain human responsibilities.
What is the main purpose of the operation bank?
Answers
Answer:
what even is a operation bank
Explanation:
hehe
