Mathematics, 28.01.2021 19:20, arodavoarodavo

Consider the following demand schedule for shoes. Price Quantity Demanded $5 385 $10 365 $15 345 $20 325 $25 305 $30 285 $35 265 $40 245 10. Suppose that the store increases the price of shoes from $25 to $30. Using the mid-point approach, calculate price elasticity of demanded.

11. Suppose that the store increases the price of shoes from $25 to $30. Based on this information, the demand curve would be classified as (select one):
a. inelastic
b. elastic
c. unit elastic

12. Suppose that when the price of laundry detergent decreases from $4.10 to $3.50, quantity supplied decreases from 260 to 180.

Using the mid-point elasticity approach, calculate price elasticity of supply.

Answers: 1

Show answers

Other questions on the subject: Mathematics

Mathematics, 21.06.2019 18:50, millernicholas622

The random variable x represents the number of phone calls an author receives in a day, and it has a poisson distribution with a mean of 8.7 calls. what are the possible values of x

Answers: 1

continue

Mathematics, 21.06.2019 21:30, lee1677

Using elimination, what is -4x+2y=-12 4x+8y=-24

Answers: 1

continue

Mathematics, 21.06.2019 23:00, mojio22

What are two numbers that add up to -9 and multiply to -10 best answer gets branliest and 100 extra points

Answers: 1

continue

Mathematics, 22.06.2019 00:30, tremainecrump1466

Anew test for ra is being developed. the test is administered to 750 patients with ra and 750 without ra. for the sake of the question, assume the prevalence of ra in this population is 50%. of the 750 patients with ra, 575 have a positive result. of the 750 patients without ra, 150 have a positive result. what is the positive predictive value of the new test? a575/(575+150) b. 600/(600+ 150) c. 575/(575+125) d. 600/(600+ 125)

Answers: 2

continue

Do you know the correct answer?

Consider the following demand schedule for shoes. Price Quantity Demanded $5 385 $10 365 $15 345 $20...