Given = 7.6182 +0.08145X and Y = 29, X = 262.5. Use elasticity of expenditure to interpret the model above.

Answers

Answer 1

The elasticity of expenditure is given by;e = δY/δX * X/Ywhere δY/δX is the slope of the demand curve and can be obtained by taking the derivative of the demand curve. X/Y is the expenditure share of X.In the given equation:

Y = 7.6182 + 0.08145X, we can rearrange to give X in terms of Y; X = (Y - 7.6182) / 0.08145Hence, expenditure share of X (X/Y) = (262.5 - 7.6182) / 29 = 8.9743.

Now we need to find δY/δX, by taking the derivative of the demand equation above, we get;δY/δX = 0.08145*Hence, the elasticity of expenditure is;e = δY/δX * X/Y = 0.08145*(262.5/29) = 0.731Conclusion:The value of elasticity of expenditure obtained above is less than one (0.731 < 1). This implies that the demand for X is inelastic. Hence, a 1% increase in the price of X will cause less than 1% decrease in the quantity demanded. Conversely, a 1% decrease in the price of X will cause less than 1% increase in the quantity demanded.

The elasticity of expenditure (E) is a metric used to measure the sensitivity of the quantity demanded of a good or service to a change in the price of that good or service. If E > 1, then the good or service is considered elastic. This means that a small change in price can cause a significant change in the quantity demanded of the good or service.

If E = 1, then the good or service is considered to have unit elasticity. This means that a change in price will cause a proportional change in the quantity demanded. If E < 1, then the good or service is considered inelastic. This means that a change in price will cause a relatively small change in the quantity demanded. In the given model above, the elasticity of expenditure was computed as 0.731. Since this value is less than one, it implies that the demand for the good is inelastic. A 1% increase in the price of the good will cause a less than 1% decrease in the quantity demanded. Conversely, a 1% decrease in the price of the good will cause less than a 1% increase in the quantity demanded.

To know more about  elasticity of expenditure:

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Related Questions

Jasmine drives every morning to her office that is 12 miles from her home.


If Jasmine's average driving speed is s mph, how many hours does it take her to drive from her home to the office?

Answers

Answer:

(12÷s)·60

Step-by-step explanation:

The hours it takes is 12/s so you multiply 60 to get the minutes. Next time, I would reccomend asking for help from the teacher or doing homework help, instead of putting all the RSM questions online. Thank you and have a good day :)

Answer:

12/s

Step-by-step explanation:

Distributive Property 1

2(x+3)

What is the answer

Answers

Answer:

Step-by-step explanation:2x +6

Answer:

2x+6

Step-by-step explanation:

Definition - To “distribute” means to divide something or give a share or part of something. According to the distributive property, multiplying the sum of two or more addends by a number will give the same result as multiplying each addend individually by the number and then adding the products together.

Other examples-

5(4x+5) -------> You would distribute(Multiply) 5 into 4x+5

5 times 4x is equal to 20

5 times 5 is equal to 25

The sign is addition

Thus, 20x+25

Hope you understand the distributive property and hope this helps!

(If possible mark brainliest)

If q is the midpoint of segment PR, find the coordinates of R if P (11,-2) and Q (4,3) ​

Answers

Answer:

  R(-3, 8)

Step-by-step explanation:

R = 2Q -P

R = 2(4, 3) -(11, -2) = (8-11, 6+2)

R = (-3, 8)

_____

You can derive the formula for the endpoint from the formula for the midpoint:

  Q = (R + P)/2

  R = 2Q - P . . . . . . multiply by 2 and subtract P

The scale of a map is 1:10,000,000. What is the real distance between two cities if the distance between them on map is 1.7 dm.

Answers

Answer:

  1700 km

Step-by-step explanation:

Multiply the map scale by 1.7 dm:

  1.7 dm : 17,000,000 dm

At this distance, a more useful unit is km, so we have ...

  (17×10^6)(10^-1 m) = 1.7×10^6 m = 1700×10^3 m = 1700 km

5 stars and 3 hearts.

Which ratios describe the model? Check all that apply.

A. 3 hearts to 5 stars
B. 3 stars to 5 hearts
C. 5 hearts to 3 stars
D. 5 stars to 3 hearts

Answers

Answer:

a and d

Step-by-step explanation:

i just took the Assignment

Answer:

The answer is A and D

Step-by-step explanation:

5 stars and 3 hearts.

That in ratio form would be 5 stars to 3 hearts, or 3 hearts to 5 stars.

Therefore, your answer is A and D

What is the sum of 9.8 and 573.54

Answers

583.34 Youre Welcome!

This box has the same length, width, and height as the two tennis balls. Which expression gives the volume of the empty space encircling the tennis balls inside the box?

Answers

The second one hope that helped

the marks of a student of a class are given below78, 11,99,63,94,78,36,22
Range of mark is​

Answers

Answer:

88

Step-by-step explanation:

arrange the marks in ascending order

range = highest value - lowest value

= 99 - 11

= 88

Part I
How does a translations 6 units up and 1 unit left change the coordinates of a shape? Question from edmentum

Answers

It depends on the shape it may be rotation

You need to be more specific

Paulie is buying a shirt that was originally priced at $15. The store has a today-only discount of 25%. What is today’s price for the shirt?​

Answers

Answer:

he is buying it for 11.25. you get this buy multiplying 15 by 25% which equals 3.75 then you subtract 15 by 3.75 and you get 11.25

hope it helps

please mark as brainliest

Step-by-step explanation:

Answer:

11.25$

Step-by-step explanation:

Leanor pays a total of $16.50 for every 6 shirts she has dry-cleaned. Which graph models a
relationship with the same unit rate?

Answers

Answer:

Graph (F)

Step-by-step explanation:

Leanor pays a total of $16.50 for every 6 shirts she has dry cleaned.

Unit rate to dry clean the shirts will show the slope of the line plotted for price Vs number of shirts dry cleaned.

Unit rate = [tex]\frac{16.5}{6}[/tex] = $2.75 per shirt

               ≈ $2.8 per shirt

From the given graphs attached,

Slope of the line = [tex]\frac{\text{Rise}}{\text{Run}}[/tex]

Graph (F)

Slope = [tex]\frac{25}{9}=2.78[/tex]

          ≈ 2.8

Graph (G)

Slope = [tex]\frac{50}{3}=26.67[/tex]

Graph (H)

Slope = [tex]\frac{20}{2}=10[/tex]

Graph (J)

Slope = [tex]\frac{45}{2}[/tex] = 22.5

Therefore, graph (F) will be the answer.

Answer:the answer is f be cause if u go to 6 and go up you are around 16

Step-by-step explanation:

Decrease 40 by 12.5%

Answers

Answer:

35

Step-by-step explanation:

Multiply 40 by 0.125 (12.5%) and you get 5

Subtract 5 from 40

35

Using Slopes of Parallel Lines Quick Check
Item 1
A quadrilateral ABCD has vertices A at (0,2), B at (2,6), C at (9,6), and D at (7,2). Are the opposite sides of this
quadrilateral parallel? (1 point)
Item 2
O Yes. AB is parallel to CD, but AD is not parallel to BC
Item 3
Item 4
O Yes. AB is parallel to CD and AD is parallel to BC
Item 5
O NO AD is parallel to BC but AB is not parallel to CD
O NO AB is parallel to CD, and AD is parallel to BC

Answers

Answer:

The answer is (B)Yes. AB is parallel to CD and AD is parallel to BC

Step-by-step explanation:

There is an important fact about the parallel lines:

Parallel lines have equal slopes

The rule of the slope of a line is:

[tex]m=\frac{y_{2}-y_{1} }{x_{2}-x_{1}}[/tex], where [tex](x_{1},y_{1})[/tex] and [tex](x_{2},y_{2})[/tex] are two points on the line

Let us use the fact and the rule to solve the question

∵ ABCD is a quadrilateral

∵ A = (0, 2) , B = (2, 6), C = (9, 6), D = (7, 2)

∵ The opposite sides are AB, CD and AD, BC

Find the slopes of the four sides to check the parallel sides

∵ [tex]m_{AB}=\frac{6-2}{2-0}=\frac{4}{2}=2[/tex]

∵ [tex]m_{CD}=\frac{2-6}{7-9}=\frac{-4}{-2}=2[/tex]

∵ The slope of AB = The slope of CD

AB // CD

∵ [tex]m_{AD}=\frac{2-2}{7-0}=\frac{0}{7}=0[/tex]

∵ [tex]m_{BC}=\frac{6-6}{9-2}=\frac{0}{7}=0[/tex]

∵ The slope of AB = The slope of CD

AD // BC

The correct answer is:

Yes. AB is parallel to CD and AD is parallel to BC ⇒ (B)

Graph the line y = kx +1 if it is known that the point M belongs to it: M(1,3)

Answers

Answer:

[tex]M(x,y) = (1,3)[/tex] belongs to the line [tex]y = 2\cdot x +1[/tex]. Please see attachment below to know the graph of the line.

Step-by-step explanation:

From Analytical Geometry we know that a line is represented by this formula:

[tex]y=k\cdot x + b[/tex]

Where:

[tex]x[/tex] - Independent variable, dimensionless.

[tex]y[/tex] - Dependent variable, dimensionless.

[tex]k[/tex] - Slope, dimensionless.

[tex]b[/tex] - y-Intercept, dimensionless.

If we know that [tex]b = 1[/tex], [tex]x = 1[/tex] and [tex]y = 3[/tex], then we clear slope and solve the resulting expression:

[tex]k = \frac{y-b}{x}[/tex]

[tex]k = \frac{3-1}{1}[/tex]

[tex]k = 2[/tex]

Then, we conclude that point [tex]M(x,y) = (1,3)[/tex] belongs to the line [tex]y = 2\cdot x +1[/tex], whose graph is presented below.

Answer:

Graph the points, (2, -7), (1, -3)

Step-by-step explanation:

I did it in rsm xD

-5(x – 3) – 3x - 2 = 45

Can someone please help me explain this to me thank you!

Answers

Hope this help you with the answer


Doug starts his day at the video game arcade with $25.00 Each game costs 0.75 Which function models the sequence showing the money Doug haslen after each video game that he plays?
O A (g) = 259 -0.75, where is the number of games played
O(9) = -0.75(9 - 1) 25 where g is the number of games played
O c f(a) =-0.759 + 25, where is the number of games played
Daysi
Of(9) = 25(9 - 1) - 0.75, where is the number of games played

Answers

Answer:

i dont understand your answer choices but here is the expression with representations:

m=25-0.75p, where p is the number of games played and m is the amount of money he has left

can i get a thanks and brainliest please?

A pool with 12,000 gallons is drained at 4 gallons per minute.?

A.Proportional
B.Non Proportional

Answers

Answer:

proportional

Step-by-step explanation:

good luck!

A smart phone is bought at ₹ 46000. Its value depreciated at the rate of 12% per annum. Find its value after one year.
please answer fast please :)

Answers

Answer:

40480

Step-by-step explanation:

find 12% of 46000 and subtract it by 46000

brainliest pls

Answer:

40480

Step-by-step explanation

take 12% of the cost

46000*.12=5520

subtract answer from original number

46000-5520=40480

What is the completely factored form of this expression?
162 - 50x^4

Answers

Answer:

Step-by-step explanation:

Answer:

2(9-5x^2)(9+5x^2)

Step-by-step explanation

A company's gross profit rate measures how well the company maximizes its profits in terms of cost and sales.



The gross profit rate,P , is calculated using the formula P= s-c/s, where s is the net sales and c is the cost of goods sold.

Which of the following equations correctly rearranges the formula to SOLVE FOR C, the cost of goods sold?

A)c=P
B)c=-P
C)c=Ps-s
D)c=-Ps+s

Answers

Answer:

D

Step-by-step explanation:

P = s-c/s

~Multiply s to both sides

Ps = -c + s

~Subtract s to both sides

Ps - s = -c

~Divide -1 to both sides

-ps + s = c

Best of Luck!

Answer:

C=-PS+S

Step-by-step explanation:

Make sure there capital letters :)

Please help I will give brainliest if you explain

Answers

Answer:

B

Step-by-step explanation:

Given 2 sides then the third side x is

difference of 2 sides < x < sum of 2 sides , that is

28 - 16 < x < 28 + 16

12 < x < 44

Since 12 is less than x then shortest length = 13 cm → B

The person who asked to see the full pic here it is & if anyone wants to help out also

Answers

okay I found out that the answer is 2

Find the measures of two supplementary angles if their measures are in the given ratio.
2:3

Answers

Answer:

The measures of the two angles are 72° and 108°

Step-by-step explanation:

Let us revise the meaning of supplementary angles.

The supplementary angles are the angles whose sum of measures

equal to 180°

∵ The ratio between the two supplementary angles is 2 : 3

∵ The sum of the supplementary angles is 180°

→ Let us use the ratio method to solve the question

⇒  ∠1    :    ∠2    :    ∠1 + ∠2

⇒  2      :    3      :    5  (2 + 3)

⇒  ?       :    ?      :    180

By using cross multiplication

∵ ∠1 = (2 × 180) ÷ 5

∴ ∠1 = 360 ÷ 5

∠1 = 72°

∵ ∠2 = (3 × 180) ÷ 5

∴ ∠2 = 540 ÷ 5

∠2 = 108°

The measures of the two angles are 72° and 108°

do #9 and #10 pls (will give brainliest if correct!)

Answers

9) 7^2 +b^2 (missing side) = 25^2
49 + b^2 = 625
B^2 = 576
Square root 576

B = 24 ft

10) The wire is 6.5 ft

Answer:

9) 25 is the hypotenuse so it should be replaced with c, not a or b.

10) 6.5 feet

Step-by-step explanation:

9) The pythagorean theorem is [tex]a^2+b^2=c^2[/tex].

The pythagorean theorem says that c MUST always be the hypotenuse length. The hypotenuse side can be identified because it is always on the opposite side of the right angle and the diagonal one (and of course the longest side).

a and b can be any other side except for c. What they did wrong was that they put the hypotenuse side as b.

Now to correct the error

[tex]a^2+b^2=c^2\\7^2+b^2=25^2\\49+b^2=625\\49+b^2-49=625-49\\b^2=576\\[/tex]

[tex]\sqrt{b^2}=\sqrt{576} \\b=24[/tex]

The missing side length is 24.

10)  The question is asking for the c length (which is the hypotenuse). Use pythagorean theorem to solve for c.

[tex]a^2+b^2=c^2\\5.6^2+3.3^2=c^2\\42.25=c^2\\\sqrt{42.25}=\sqrt{c^2}\\6.5=c[/tex]

The length of the wire is 6.5 feet.

Find three consecutive even integers such that the sum of the smallest number and twice the middle number is 20 more than the largest number.

Answers

Answer:

             10, 12, 14

Step-by-step explanation:

Consecutive even integers increase by 2.

x   ← an integer

2x  ← an even integer (the smallest)

2x+2   ← next even integer consecutive to 2x (the middle one)

2x+2+2=2x+4  ← the last even integer consecutive to 2x+2 (the largest)

2(2x+2)    ← twice the middle number

2x+2(2x+2)   ←  the sum of the smallest number and twice the middle

2x+4+20   ←  20 more than the largest number

2x + 2(2x + 2) = 2x + 4 + 20

2x + 4x + 4 = 2x + 24

            -4           -4

            6x = 2x + 20

         -2x       -2x

            4x = 20

            ÷2     ÷2

            2x = 10

2x+2 = 10+2 = 12

2x+4 = 10+4 = 14

I need help ASAP please!!!

Answers

Answer: The answer is b 100+(-500)

Step-by-step explanation: If you solve for the original and this answer, they will both equal -400

Answer

 The answer is B.

Step-by-step explanation:

step 1: 100+(-500)=-400

Step 2: 100-500= -400

also because

A=600

C= 600

D= -600

So...

B is the logical choice

what is the answer 4p+9f=60

Answers

Answer: F = 6

P = 1.5

Step-by-step explanation:

can someone help with this plz

Answers

Answer:

dividemultiplemultiplemultipledivide

What is the measure of x in degrees ?

Answers

Answer:

117 degrees

Step-by-step explanation:

Urgent! Please show work!

Answers

Answer:

f(x) = x³ + x² - 22x - 40

Step-by-step explanation:

Given that x = a is a zero of f(x) then (x - a) is a factor

Here the zeros are x =  - 4, x = - 2, x = 5 , then the factors are

(x + 4), (x + 2) and (x - 5)

The function is then the product of the factors, that is

f(x) = (x + 4)(x + 2)(x - 5) ← expand the first pair using FOIL

     = (x² + 6x + 8)(x - 5) ← distribute

     = x³ + 6x² + 8x - 5x² - 30x - 40 ← collect like terms

     = x³ + x² - 22x - 40

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