When the price of a sweater was $40, the store sold 150 sweaters per month. When it raised the price to $50 each, it sold 120 sweaters per month. Using the midpoint method, the price elasticity of demand for sweaters is

Answers

Answer 1

Answer:

the price elasticity of demand is -1

Explanation:

The computation of the price elasticity of demand is shown below:

Price elasticity of demand

= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of quantity demanded)

where,

Change in quantity demanded is

= Q2 - Q1

= 120 - 150

= -30

And, average of quantity demanded is

= (150 + 120) ÷ 2

= 135

Change in price is

= P2 - P1

= $50 - $40

= $10

And, average of price is

= ($50 + $40) ÷ 2

= 45

After solving this,

Hence, the price elasticity of demand is -1


Related Questions

Kiran owns a T-shirt shop in a beach community. For many years, he owned the only T-shirt shop in the area. Recently, several other T-shirt shops have opened next to Kiran’s shop. What is likely to happen?

Answers

Answer:

most likely kiran is going to go out of business

Explanation:

so he has to step up his products and have something that makes his stuff look outstanding like ads and he might want to have someone with a lot of fame to represent his brand

What can you do to
protect your personal
information?

Answers

make sure your emails are only used on reliable sites, along with your number and address, avoid websites that don’t use .gov .com or .org

Sheldon has just successfully negotiated a new long-term sales agreement with a major client. The personal satisfaction Sheldon has about his efforts is his ________ reward. Group of answer choices

Answers

Answer:

Intrinsic

Explanation:

Intrinsic reward is the reward that would be provided to the employees if the employees are performing well in their job, It would be considered as intrinsic as they are internal to the work that has been done and it could be accomplish by their own effort

So the given situation represent the intrinsic reward for her personal satisfaction

The following coverage is used to insure buildings in the course of construction: Group of answer choices Builder's Risk Policy Builder's Replacement Policy Business Income Insurance Policy Equal Shares Policy

Answers

Answer:

Builder's Risk Policy

Explanation:

The Insurance policy mostly used in insuring buildings in the course of construction is the Builder's Risk Policy. It is special  type of property insurance that indemnifies against damage to buildings while they are under construction. This coverage all the insurable interest of person in the materials, fixtures and equipment being used in relation to the renovation or construction of the building if those items sustain physical loss or damage from a covered peril.

of you have something to say plz explain your question ok

Answers

what ? can you explain what you’re trying to say lol
what is your question? haha

What factor is usually agreed upon prior to the submission of a purchase order?
a schedule of future orders
number of products to be purchased
price of the products to be purchased
delivery method

Answers

Answer:

number of products to be purchased

Explanation:

A purchase order is prepared by a customer and addressed to a trader.  The document instructs the trader to supply the customer with the goods stated in the purchase order document.

Before a customer writes the purchase order, an agreement is made on the quantity to be ordered. The trader has to confirm that they have the required quantity in the stores, or it will be availed within a reasonable time.

The price is agreed at the quotation stage. The customer first sends an inquiry, which the customer responds to with a quotation.


A lawyer believes his client is guilty, but remains professional and represents his client. This is an example of which of the following?
Moral behavior
A.) moral behavior
B.) unlawful behavior
C.) ethical behavior
D.) mannerly behavior

Answers

Answer:

C

Explanation:

Would say Moral but it's ethical and couretious

C because ethical behavior is having part within keeping it fair.

A teacher who makes copies of a newspaper article to give to her students is protected under: Fair market value Trademark exemption laws Fair use exemption Copyright law

Answers

Answer:

the answer is the one with copyright laws

Explanation:

because the teacher is not staling the information but is using it to farther along kids education.

Using the spell-checker feature of a word-processing program, you can be confident that it will find all of the errors. O True O False

Answers

Answer:

Theirs a chance that it will. But puncuation Im not sure

Explanation:

Answer:

Answer: False

Explanation:

Edge 2020

the price of an item is usually high when the number of people wanting to buy it is​

Answers

Answer:

High

Explanation:

When the number of customer willing to buy increases, the demand for that product also rise. According to the law of supply and demand, an increase in demand without a subsequent increase in supply results in an increase in the buying price.

An increase in the number of buyers increases competition for the few available goods. Sellers will take advantage of high demand and increase prices to make more profits. Therefore, when there more people willing to buy a product, its price tends to increase.

Subject is Theatre

QUESTION 1: An actor who gave a great audition is not working out. They are not prepared for rehearsals, are not working on their character, and do not seem to be trying.

QUESTION 2: The costume designer has brought costume designs that are in direct opposition to your vision.

QUESTION 3: There has been some conflict between your ensemble and your lead actors. It is starting to affect the morale of the production.

QUESTION 4: Before opening night, the light board crashes and there isn’t a backup. How will the audience be able to see the performance? There is no lighting designer, so the answer falls to you.

Answers

Answer:

theatredatruth avatar

Don't be afraid to let them know what they need to work on. If they want to have this job or role, you should tell them that they need to try, because there are other people trying out who actually want to be there and if they don't want to, they should not be wasting your time.

Explanation: I hope this helps.

What condition exists if you have a monthly spending deficit? You have an outstanding debt, such as a student loan, mortgage, or car loan. You're not generating as much income per month as you planned for. Your monthly income exceeds the amount of money you spend. Your monthly expenses are greater than your monthly income.​

Answers

Answer:

Your monthly expenses are greater than your monthly income.​

Explanation:

A deficit means having a shortage. If one has a monthly spending deficit, it implies the expenses are more than the income. A deficit arises when the budgeted expenditure is more than the income.

A deficit contrasts with a surplus, which is a situation when one has more money than the planned expenses. In a surplus, one has an excess of money, but in a deficit, one has insufficient amounts to meet all expenses.

Answer:  

Your monthly expenses are greater than your monthly income.

Explanation: Took the test

‏( Z ) Company has beginning inventory of 15,000 units and expected sales of 23,000 units . If the desired ending inventory is 18,000 units , how many units should be produced ?

Answers

Answer:

the  number of units should be produced is 26,000 units

Explanation:

The computation of the number of units should be produced is as follows:

Units to be produced is

= Expected sales units + ending inventory units - beginning inventory units

= 23,000 units + 18,000 units - 15,000 units

= 26,000 units

Hence, the  number of units should be produced is 26,000 units

Select the correct answer.
James has set the goal of achieving all "A"s during this year of school. Which term best describes this goal?
O A long-term goal.
OB. short-term goal
OC. self-goal
OD inner goal

Answers

Answer:

OB. short-term goal

Explanation:

One way of categorizing goals is by the time set to achieve them. Under this grouping, goals are either long-term goals or short -term goals.

Short-term goals are the goals set to be achieved within one year.  These goals can be accomplished within a day, one week, a few weeks, a month but not more than 12 months. James intends to score A'' this year. This goal is set to be achieved with one year; hence it is a short-term goal.

Long-term goals take one year and beyond to accomplish.

what is the benefits of international bussiness to firms ?​

Answers

Answer:

Benefits to Firms

It helps in improving profits of the organizations by selling products in the nations where costs are high. It helps the organization in utilizing their surplus resources and increasing profitability of their activities. Also, it helps firms in enhancing their development prospects.

Explanation:

i just looked it up so hope it helps ;)

What’s the answer??

Answers

no, he can’t afford one

Answer:

yes, thanks for the points

Outsourcing is becoming more and more common, but it is a controversial idea in the United States. Why do you think this is such a highly contested idea? Do you think outsourcing is a good idea or a bad one? Explain the reasons for your answer.

Answers

Answer:

outsourcing is good for getting things made cheaper but it is also coming from another country which some people dont agree with especially with the virus. i think its a good idea because (if you are from the US) we are in a huge amount of debt, and so the cheaper the better.

Explanation:

What the fraction of 0.10 ;)


Anyone live in ny (only answer if you live in ny)

Answers

Answer:

1/10 my dude ksfhdkdhb nskdjdhdk

On late-night TV, you see an infomercial claiming that the price of the product has been slashed for a special offer and now includes a bonus sample size of something that is in adjunct to the product. This illustrates the _____ compliance technique.

Answers

The answer is that’s-not-all

Who is your favorite Kardashian?

A) Kim Kardahian-West
B) Kris Jenner-Kardashian
C) Khloe Kardashian
D) Kourtney Kardashian
E) Kylie Jenner
F) Kendall Jenner

Answers

Answer:

G: None

Explanation:

have a good day :)

A, Kim Kardashian-West, she a qweennnnnn!

A software start up is pitching to raise money to write code and they need a team of 4/4 for two years and each color cost 100,000 per year the opposite for 0.25 how many do they need to so just to cover the coding

Answers

Answer:

the number of codes for cover the coding is 3,200,000

Explanation:

The computation of the number of codes for cover the coding is as follows:

= (Number of coders × number of years × cost per year) ÷ (0.25)

= (4 coders × 2 years × 100,000 per year) ÷ (0.25)

= 3,200,000

Hence, the number of codes for cover the coding is 3,200,000

We simply applied the above formula

Convenience goods and services are products that a consumer buys only after comparing value, price, quality and style from a variety of sellers. True

Answers

Answer:

False

Explanation:

The convenience product is the product i.e. inexpensive and need a minimum amount of effort while selecting and purchasing the products,

It involves the bread, soft drinks, etc

In this the consumer do not think whether to purchase or not it is already available at minimum cost

So the given statement is true

state a comparison of
the arrangement of the molecules in ice and in liquid water

ice-
liquid water-​

Answers

Answer:

Ice, liquid water, and water vapor differ in the arrangement and motion of water molecules

Explanation:

Choosing products that do not harm the environment and gathering information about a product's quality are examples
of
O consumer rights
O consumer responsibilities
O lending acts
O falr practices

Answers

Answer:

O consumer responsibilities

Explanation:

Consumer responsibilities imply assuming personal and social responsibilities for purchases and consumption of goods and services. It is the recognition of environmental and social costs associated with all purchases and consumption.

Consumers have the responsibility to protects the environment. They can do so by carefully choosing products that are harmless to the environment. Consumers to the duty to gather as much information regarding products to ensure they are environmentally friendly. They need to educate and sensitize fellow consumers.

Have $54,118.54 in brokerage account, and plan to deposit additional $3000 at the end of every future year until account totals $210,000. Expect to earn 10% annually on the account. How many years will it take to reach goal?

Answers

Answer:

11 years

Explanation:

PV= 54,118.54

FV= 210,000

I/Y= 10

PMT= 3000

N = ?

Number of years = N(Rate, -Pmt, -Pv, Fv)

Number of years = N(10, -3000, -54,118.54, 210,000)

Number of years = 10.9999949

Number of years = 11

10. Filing taxes helps determine if... (choose ALL that apply) *
(10 Points)
You owe taxes to the government because not enough money was withheld from your check
The government owes you a refund because you paid too much from your paycheck
You paid the correct amount that year from your paycheck
You should be getting more deductions because you aren't getting enough

Answers

Answer:

You owe taxes to the government because not enough money was withheld from your check

The government owes you a refund because you paid too much from your paycheck. You paid the correct amount that year from your paycheck

According to the video, what tasks are commonly performed by Farmworkers instead of by machines? Select three
options
weeding
pruning
preparing soil
transplanting
planting
HELPPPPPPPPPPPPPPPP

Answers

Sorry, but what video ? I can look it up and try to help

Corrine works in a doctor's office. Sometimes the office is slow with only a few clients. She always finds tasks to keep her busy, such as filing paperwork, straightening the lobby, and preparing billing information. What workplace habit is Corrine demonstrating?


initiative
problem solving
interpersonal skills
punctuality

Answers

This is an initiative working habit.

today is the worst day ever.
my school has two options; you do work online or in person.
im on my period today and it hurts a LOT. this is the first time it hurts this bad that I can't even stand up. not to mention i also feel like vomiting.
i usually go to school in person. yes, ik about corona-virus. my mom doesn't care.
i told her if today i can stay home and shes angry, shes complaining about my studies and how my cousins are better than me. honestly i cant put up with this. what do i do?

Answers

Answer:

first you need to claim yourself first

love yourself drinking water will help you feel good and comfortable be cozy and listen to peaceful song

lots of love

Is this Claudia Conway?
Is Kellyanne (aka...your mom) holding you hostage?
Reply in Morse code if help is needed.

Which c of the four c’s of marketing associates withe the promotion element of the marketing mix

Answers

Answer:

Communication

Explanation:

In the four Ps of marketing, promotion is closely associated with communication in the 4c of marketing. Promotions are the activities a business undertakes to convince customers to buy a product. Communication is a more customer-oriented approach compared to a promotion, which can be manipulative.  

Communication involves creating an interaction between buyer and seller. The buyer seeks to form a relationship with the sellers and convince them to buy.

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