ewymer3901
27.02.2020 •
Business
When the price of chocolate-covered peanuts increases from $1.55 to $2.00, the quantity demanded decreases from 220 to 160. In this price range, the demand for chocolate-covered peanuts is , and total revenue will when the price increases. inelastic; increase inelastic; decrease elastic; increase elastic; decrease
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Ответ:
The answer is elastic; decrease
Explanation:
Price elasticity of demand (PED) = %change in QD/ %change in price
PED = (2-1.55/1.55 ) * 100 / (160-220/220) *100 = 1.065
PED is elastic
Total revenue before price change = 1.55*220= $341.00
Total revenue after price change = 2* 160 = $320.00
Total revenue decreased by $21.00
Ответ:
Granite is a light-colored igneous rock with grains large enough to be visible with the unaided eye. It forms from the slow crystallization of magma below Earth's surface. Granite is composed mainly of quartz and feldspar with minor amounts of mica, amphiboles, and other minerals.