Social Studies, 10.10.2021 07:40, hannahdrees0731
(a) Identify whether the price of sprockets from $4 to $3 is elastic, unit elastic, or inelastic. Explain.
(b) What is the price of sprockets that maximizes the hardware store's revenue? Explain.
(c) The price of sprockets is $1. If the hardware store wants to increase its revenue, how should it change the price? Explain.
(d) Using the midpoint formula, calculate the price elasticity of demand for sprockets when price increases from $2 to $3. Identify the coefficient as elastic, unit elastic, or inelastic.
(e) Using the midpoint formula, calculate the price elasticity of demand for sprockets when price decreases from $5 to $4. Identify the coefficient as elastic, unit elastic, or inelastic.
(f) Based on the scenario in part (e), how does the decrease in price affect the hardware store's revenue?
Answers: 3
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Brainliest will be given is conflict unavoidable among israel and its arab neighbors? why or why not? could stronger economic ties between israel and its arab neighbors reduce conflict? why or why not? what evidence supports your positions?
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(a) Identify whether the price of sprockets from $4 to $3 is elastic, unit elastic, or inelastic. Ex...
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