$MathMaster logo$

MathMaster

Home
general
1 suppose we have a good whose quantity supplied changed from 100 to 120 units when the price increased from 10 to 12 per

Question

1. Suppose we have a good whose quantity supplied changed from 100 to 120 units when the price increased from $10 to $12 per unit. Compute the price elasticity of supply using the midpoint method

229

likes

1145 views

Answer to a math question 1. Suppose we have a good whose quantity supplied changed from 100 to 120 units when the price increased from $10 to $12 per unit. Compute the price elasticity of supply using the midpoint method

$Expert avatar$

4.6

110 Answers

mid point elasticity of supply=((Q2-Q1)/(Q2+Q1)/2)/(P2-P1)/((P2+P1)/2) =(20/115)/(2/(11/2)) =0.478

Frequently asked questions (FAQs)

Math question: Find the derivative of f(x) = (2x^3 + 4x^2 - 6x + 8)(sin(3x) + cos(2x)) using the chain rule.

+

Find the length of the hypotenuse in a right-angled triangle with an opposite side of 7 and an adjacent side of 12?

+

What is the formula for finding the mean of a set of data?

+

New questions in Mathematics

Add. 7/w²+18w+81 + 1/w²-81

QUESTION l. An investigation has been carried out in a region to know the perception of "citizen insecurity" of its inhabitants. 1,270 people in the region were interviewed, of which 27.1% responded that it was a "serious" problem. Knowing that this opinion was previously held by 25.3% of the population of that region, we want to know if said opinion has changed significantly for a confidence level of 97.2%. Taking this statement into account, the following is requested: a) Critical value of the contrast statistic. b) Solve the hypothesis test and indicate what conclusion we can reach. c) P-value of contrast.

If O(3,-2) is reflected across x = 2. What are the coordinates of O

Consider numbers from 1 to 2023. We delete 3 consecutive numbers so, that the avarage of the left numbers is a whole number

The miles per gallon (mpg) for each of 20 medium-sized cars selected from a production line during the month of March are listed below. 23.0 21.2 23.5 23.6 20.1 24.3 25.2 26.9 24.6 22.6 26.1 23.1 25.8 24.6 24.3 24.1 24.8 22.1 22.8 24.5 (a) Find the z-scores for the largest measurement. (Round your answers to two decimal places.) z =

Substitute a=2 and b=-3 and c=-4 to evaluate 2ac/(-2b^2-a)

Calculate the value of a so that the vectors (2,2,−1),(3,4,2) and(a,2,3) are coplanar.

In the telephone exchange of a certain university, calls come in at a rate of 5 every 2 minutes. Assuming a Poisson distribution, the average number of calls per second is: a) 1/8 b) 1/12 c) 1/10 d) 2/5 e) 1/24

DuocUC 2) The cost C, in pesos, for the production of x meters of a certain fabric can be calculated through the function: (x+185) C(x)=81300-6x+ 20000 a) It is known that C(90) 5.344. Interpret this result. (2 points) b) Calculate C'(x) (2 points) 3 x²+111x-0.87 20000 2000 c) Function C calculates the cost while producing a maximum of 500 meters of fabric. Determine the values of x at which the cost of production is increasing and the values of x at which the cost is decreasing. (3 points) d) If a maximum of 500 meters of fabric are produced, what is the minimum production cost? (

Use a pattern to prove that (-2)-(-3)=1

User One of the applications of the derivative of a function is its use in Physics, where a function that at every instant t associates the number s(t), this function s is called the clockwise function of the movement. By deriving the time function we obtain the velocity function at time t, denoted by v(t). A body has a time function that determines its position in meters at time t as S(t)=t.³√t+2.t . Present the speed of this body at time t = 8 s.

15.A newly married couple purchased a home with a $123710 down payment. They financed the remaining balance of the home with a mortgage. Their payments were $15395 at the end of every six months for 23 years and the interest rate was 10.6%, compounded semi-annually. How much did they purchase their home for. Enter to the nearest cent (two decimals). Do not use $ signs or commas in the answer.

Pablo has a balance of $440,000 and 2/5 of the money is used to pay bills. How much money do you have left after paying the bills?

A factory produces glass for windows. The thickness X of an arbitrarily selected pane of glass is assumed to be Normally distributed with expectation μ = 4.10 and standard deviation σ = 0.04. Expectation and Standard deviation is measured in millimeters. What is the probability that an arbitrary route has a thickness less than 4.00 mm?

the product of a 2-digit number and a 3-digit number is about 50000, what are these numbers

calculate the product of 4 and 1/8

Recall that with base- ten blocks, 1 long = 10 units, 1flat = 10 long, and a block = 1 unit. Then what number does 5 flat, 17long and 5 units represent represent ?

Sarah is lining a square tray with 1 inch square tiles. the side length of the tray is 9 inches. How many tiles does Sarah need?

Construct a set of six pieces of data with mean, median, and midrange of 67 and where no two pieces of data are the same.