Homework Answers
Ans.4. Part 1: By using the midpoint method
% change in the quantity supplied = change in Quantity supplied /average quantity supplied x 100
= 360.00 - 330.00/ (330.00 + 360.00/2) x 100
= 30.00 / 345 x 100
= 8.69 %
% change in price = 20%
the price elasticity of supply for watches (Es) = % change in quantity supplied/ % change in price
= 8.69%/ 20%
Es = 0.43
Hence, the price elasticity of supply for watches is 0.43.
Part - 2
Ans. C. Inelastic
since Es <1, i.e. 0.43, therefore, the price elasticity of supply is inelastic.
Add Answer to:
04 Question (2 points) See page 138 A 20% increase in price led the quantity supplied...
A 5% increase in price causes a 15% increase in the quantity supplied. The elasticity of...
A 5% increase in price causes a 15% increase in the quantity supplied. The elasticity of supply is calculated to be , which makes supply --- 0.33; inelastic 0.33; elastic 3; elastic 03; inelastic
06 Question (3 points) See page 133 The price of a large pizza decreased from $23.00...
06 Question (3 points) See page 133 The price of a large pizza decreased from $23.00 to $19.00. As a result, the quantity demanded of skateboards increased from 310.00 to 330.00. 1st attempt Part 1 (1 pt) See Hint Using the midpoint formula, what is the percentage change observed for the price of a large pizza? Give your answer to two decimal places. Part 2 (1 pt) See Hint Using the midpoint formula, what is the percentage change observed for...
penalty 04 Question (4 points) See page 289 A balloon is filled to a volume of...
penalty 04 Question (4 points) See page 289 A balloon is filled to a volume of 15.9L at a temperature of 27.1°C. If the pressure in the balloon is measured to be 2.20 atm, how many moles of gas are contained inside the balloon? 2nd attempt hi See Periodic Table See Hint
20 Question (3 points) a See page 181 A method for determining the quantity of dissolved...
20 Question (3 points) a See page 181 A method for determining the quantity of dissolved oxygen in natural waters requires a series of redox reactions. Balancé the following chemical equations in that series under the conditions indicated 2nd attempt Part 1 (1 point) ll See Periodic Table See Hint In basic solution: Mn2+ (aq) +02(g) → MnO2(s) < 20/29 > 20 OF 29 QUESTIONS COMPLETED + VIEW SOLUTION , UBMIT 9 MacBook Pro
Figure 6-2 Price led = 1 Demand 20 30 Quantity 10) 10) Refer to Figure 6-2....
Figure 6-2 Price led = 1 Demand 20 30 Quantity 10) 10) Refer to Figure 6-2. The absolute value of the price elasticity of demand at points a and bis 1. What is the value of Pb? A) $50 B) $40 C) $30 D) $20 11) If the slope of a demand curve is equal to -0.1 then A) we don't know whether the demand is elastic or inelastic. B) as price increases by 10 percent quantity demanded decreases by...
07 Question (4 points) @ See page 298 The university's food court is a competitive market...
07 Question (4 points) @ See page 298 The university's food court is a competitive market for lunch combos. The inverse demand for lunch combos is p= 10 – where q is the number of combos demanded and p is the market price per combo. The inverse supply of lunch combos is given by p=;-2. 1st attempt Part 1 (2 points) See Hint 1st attempt Part 1 (2 points) See Hint The equilibrium quantity of lunch combos is , and...
this is the first question its just my second attempt a See page 935 08 Question...
this is the first question its just my second attempt
a See page 935 08 Question (2 points) A sample containing 223Ra (t12 11.4 days) has an activity of 6.60x105 Bq. 2nd attempt Part 1 (1 pt) See Periodic Table See Hint How many atoms of 223Ra are present? 12 atoms x 10 1.3 Part 2 (1 pt) How many moles of 223Ra are present? x 10-2 moles 2.15
9.When price increase from $43 to $49, quantity supplied increases from 220 units to 240 units....
9.When price increase from $43 to $49, quantity supplied increases from 220 units to 240 units. The price elasticity of supply in this price range is (use the Midpoint Formula): Multiple Choice a.0.3 b.0.67 c.1.5 d.3.33 10. When any change in price results in an infinite change in quantity demanded: Multiple Choice a.price elasticity of supply is zero. b.demand is perfectly elastic. c.demand is perfectly inelastic. d.price elasticity of supply is infinite. 12. Over a longer period of time: Multiple...
can someone show me how to do this problem? Thank you @ See page 126 04...
can someone show me how to do this problem? Thank you
@ See page 126 04 Question (2 points) A local pizzeria sells 500 large pepperoni pizzas per week at a price of $20 each. Suppose the owner of the pizzeria tells you that the price elasticity of demand for his pizza is -2, and he asks you for advice. He wants to know two things. First, how many pizzas will he sell if he cuts his price by 10%?...
06 Question (3 points) e See page 149 Douglas consumes two goods, x and y. His utility function is u(x, y) = (x + y. I...
06 Question (3 points) e See page 149 Douglas consumes two goods, x and y. His utility function is u(x, y) = (x + y. In the questions below, give your answers to two decimal places. 1st attempt Part 1 (1 point) See Hint Let the price of good x be $2 and the price of good y be $10. Furthermore, assume that Douglas has $360.00 to spend on these two goods. How much of good x does Douglas demand?...
A 5% increase in price causes a 15% increase in the quantity supplied. The elasticity of supply is calculated to be , which makes supply --- 0.33; inelastic 0.33; elastic 3; elastic 03; inelastic
06 Question (3 points) See page 133 The price of a large pizza decreased from $23.00 to $19.00. As a result, the quantity demanded of skateboards increased from 310.00 to 330.00. 1st attempt Part 1 (1 pt) See Hint Using the midpoint formula, what is the percentage change observed for the price of a large pizza? Give your answer to two decimal places. Part 2 (1 pt) See Hint Using the midpoint formula, what is the percentage change observed for...
penalty 04 Question (4 points) See page 289 A balloon is filled to a volume of 15.9L at a temperature of 27.1°C. If the pressure in the balloon is measured to be 2.20 atm, how many moles of gas are contained inside the balloon? 2nd attempt hi See Periodic Table See Hint
20 Question (3 points) a See page 181 A method for determining the quantity of dissolved oxygen in natural waters requires a series of redox reactions. Balancé the following chemical equations in that series under the conditions indicated 2nd attempt Part 1 (1 point) ll See Periodic Table See Hint In basic solution: Mn2+ (aq) +02(g) → MnO2(s) < 20/29 > 20 OF 29 QUESTIONS COMPLETED + VIEW SOLUTION , UBMIT 9 MacBook Pro
Figure 6-2 Price led = 1 Demand 20 30 Quantity 10) 10) Refer to Figure 6-2. The absolute value of the price elasticity of demand at points a and bis 1. What is the value of Pb? A) $50 B) $40 C) $30 D) $20 11) If the slope of a demand curve is equal to -0.1 then A) we don't know whether the demand is elastic or inelastic. B) as price increases by 10 percent quantity demanded decreases by...
07 Question (4 points) @ See page 298 The university's food court is a competitive market for lunch combos. The inverse demand for lunch combos is p= 10 – where q is the number of combos demanded and p is the market price per combo. The inverse supply of lunch combos is given by p=;-2. 1st attempt Part 1 (2 points) See Hint 1st attempt Part 1 (2 points) See Hint The equilibrium quantity of lunch combos is , and...
this is the first question its just my second attempt
a See page 935 08 Question (2 points) A sample containing 223Ra (t12 11.4 days) has an activity of 6.60x105 Bq. 2nd attempt Part 1 (1 pt) See Periodic Table See Hint How many atoms of 223Ra are present? 12 atoms x 10 1.3 Part 2 (1 pt) How many moles of 223Ra are present? x 10-2 moles 2.15
can someone show me how to do this problem? Thank you
@ See page 126 04 Question (2 points) A local pizzeria sells 500 large pepperoni pizzas per week at a price of $20 each. Suppose the owner of the pizzeria tells you that the price elasticity of demand for his pizza is -2, and he asks you for advice. He wants to know two things. First, how many pizzas will he sell if he cuts his price by 10%?...
06 Question (3 points) e See page 149 Douglas consumes two goods, x and y. His utility function is u(x, y) = (x + y. In the questions below, give your answers to two decimal places. 1st attempt Part 1 (1 point) See Hint Let the price of good x be $2 and the price of good y be $10. Furthermore, assume that Douglas has $360.00 to spend on these two goods. How much of good x does Douglas demand?...
Most questions answered within 3 hours.
-
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 33 minutes ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 1 hour ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 2 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 2 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 3 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 5 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 5 hours ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 5 hours ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 5 hours ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 5 hours ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 5 hours ago -
Given the information in the table, which of the following
statements is CORRECT?
Stock A
Stock...
asked 5 hours ago