$MathMaster logo$

MathMaster

Home
general
suppose that a new entry has decreased elasticity from 2 to 3 made demand more elastic and that your price before the new

Question

Suppose that a new entry has decreased elasticity from -2 to -3 (made demand more elastic) and that your price, before the new entry, was $20.

104

likes

520 views

Answer to a math question Suppose that a new entry has decreased elasticity from -2 to -3 (made demand more elastic) and that your price, before the new entry, was $20.

$Expert avatar$

4.5

94 Answers

E_1 = -2

E_2 = -3

P_1 = 20

\frac{-2}{-3} = \frac{P_2}{20}

\frac{2}{3} = \frac{P_2}{20}

P_2 = 20 \times \frac{2}{3}

P_2 = \frac{40}{3}

**Answer:**

P_2 = 13.33

Frequently asked questions (FAQs)

What is the number of ways to arrange 5 books on a shelf out of a total of 10 books?

+

What is the length of a side on a right triangle if the angle of elevation is 30 degrees and the opposite side measures 5 units?

+

Math Question: Find the product when 2/3 and 4/5 are multiplied, then factor the resulting value.

+

New questions in Mathematics

Find the equation of the normal to the curve y=x²+4x-3 at point(1,2)

how many arrangement can be made of 4 letters chosen from the 8 letters of the world ABBSOLUTE

By direct proof, how can you prove that “The sum of any three consecutive even integers is always a multiple of 6”.

5.- From the probabilities: 𝐏(𝐁) = 𝟑𝟎% 𝐏(𝐀 ∩ 𝐁) = 𝟐𝟎% 𝐏(𝐀 ̅) = 𝟕𝟎% You are asked to calculate: 𝐏(𝐀 ∪ 𝐁)

If 0101, what is the binary representation of the 4x16 decoder output?

What is 28 marks out of 56 as a percentage

Two business partners have a bank balance of $17,942.00. After the first year their interest brings their balance to $18,928.91. What rate of interest is earned?

suppose random variable x follows poisson distribution with expected value 3. what is variance of x?

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

From 1975 through 2020 the mean annual gain of the Dow Jones Industrial Average was 652. A random sample of 34 years is selected from this population. What is the probability that the mean gain for the sample was between 400 and 800? Assume the standard deviation is 1539

effectiveness of fiscal and monetary policy under closed and open economies

A diamond ring was reduced from $999.99 to $689.99. Find the percent reduction in the price. Round the answer to the nearest tenth of a percent, if necessary.

Calculate the area of the parallelogram with adjacent vertices (1,4, −2), (−3,1,6) 𝑦 (1, −2,3)

What is the total amount due and the amount of interest on a 3-year loan of $1,000 at a simple interest rate of 12% per year?

22. Let [AB] be a chord in a circle C, and k a circle which is internally tangent to the circle C at a point P and to the chord [AB] at a point Q. Show that the line P Q passes through the midpoint of the arc AB opposite to the arc APB.

f(x)= 9-x^2 find (f(x+h)-f(x) )/h