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?

(a) Identify whether the price of sprockets from $4 to $3 is elastic, unit elastic, or inelastic. E

Answers: 3

Show answers

Another question on Social Studies

Social Studies, 22.06.2019 10:00

Which idea is central to democracy in the united states? everyone has an equal right to consumer goods. people should not compromise to settle differences. the minority has authority over the majority. freedom must be balanced with respect for the law.

Answers: 1

Answer

Social Studies, 22.06.2019 13:30

4) what articles do you think a soldier would have in his “old kit bag”?

Answers: 1

Answer

Social Studies, 22.06.2019 14:30

Because they are located downstream from turkey on the tigris and euphrates rivers, these two nations are anticipating a reduction in water supply, as a result of 22 dams being built by the southeastern anatolia project. the two nations are a) iraq and iran. b) iraq and syria. c) iran and syria. d) saudi arabia and yemen.

Answers: 1

Answer

Social Studies, 22.06.2019 17:30

“a monarchy is indeed the most powerful of any… but then there is imminent danger of his employing that strength to improvident or oppressive purposes.”—william blackstone, commentaries on the laws of england which of the following documents addressed blackstone’s concern in this quote? the magna carta, because it limited the power of the king. common sense, because it encouraged american colonists to declare independence. the mayflower compact, because it created a government and the first written laws for plymouth settlers. the english bill of rights, because it later influenced the u.s. bill of rights.

Answers: 2

Answer

You know the right answer?

(a) Identify whether the price of sprockets from $4 to $3 is elastic, unit elastic, or inelastic. Ex...

Questions