Question

suppose a certain item increased in price by 18% a total of 5 times and then...

suppose a certain item increased in price by 18% a total of 5 times and then decreased in price by 10% a total of 2 times. by what overall percent did the price increase?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Suppose the price of a certain item decreases by 5.4% a total of 5 times, and...
Suppose the price of a certain item decreases by 5.4% a total of 5 times, and then increases by 1.5% a total of 4 times. By what overall percent did the price decrease? Round your answer to the nearest tenth of a percent.
Suppose the price of craft beer increased from $9.5 to $10.50 per six pack. As a...
Suppose the price of craft beer increased from $9.5 to $10.50 per six pack. As a result the weekly quantity of craft beer sold in Blacksburg decreased from 10,250 to 9,750 six packs. From this information, we can conclude that craft beer is an __________ good and that total revenue from the sale of craft beer in Blacksburg _________ due to higher prices. elastic, increased inelastic, increased elastic, decreased inelastic, decreased normal good, increased normal good, decreased Question 17 Inferior...
Suppose when the price of HDTV decreased by 10 percent, the quantity supplied decreased by 18...
Suppose when the price of HDTV decreased by 10 percent, the quantity supplied decreased by 18 percent. Based on this information, determine what happens to the revenue received by suppliers. A. Revenue increases because supply is elastic B. Revenue decreases because supply is inelastic C. Revenue increases because price increases D. We cannot determine what happens to revenue based on information about the price elasticity of supply
When the price of gas increased 5%, Chidi increased the number of bus tickets he purchased...
When the price of gas increased 5%, Chidi increased the number of bus tickets he purchased by 18%. (2 pts.) Calculate Chidi’s cross-price elasticity of demand for bus tickets. Does Chidi consider driving and taking the bus to be compliments or substitutes? The price of dresses decreased 12%, which caused Tahani to increase the number of shoes she bought by 9% and decrease the number of skirts she bought by 15%. (5 pts.) Calculate Tahani’s cross-price elasticity of demand for...
Suppose an office supply store increased its price of file folders from $.79/box to $.99/box and...
Suppose an office supply store increased its price of file folders from $.79/box to $.99/box and the quantity demanded decreased from 85 boxes/month to 83 boxes/month. What is the price elasticity of demand for file folders? Tell whether the demand is elastic, unit elastic or inelastic. What happens to the total revenue generated for the office supply store as a result of the price increase, and how does it show the relationship between elasticity and total revenue?
For the following question: At a price of $18, 100 are demanded At a price of...
For the following question: At a price of $18, 100 are demanded At a price of $12, 300 are demanded At a price of $6, 500 are demanded. 25. _____ According to the above information, if the price decreased from $18 to $6, what would happen to total revenue: A. total revenue would increase by $1,200 and demand would be elastic B. total revenue would increase by $800 and demand would be elastic C. total revenue would decrease by $1,200...
Suppose that over the past ten years price of Kona coffee increased by 20% and the...
Suppose that over the past ten years price of Kona coffee increased by 20% and the total number of pounds of Kona coffee sold on the market increased by 5%. 1. Calculate price elasticity of demand for Kona coffee using this information. 2. Calculate price elasticity of supply.
If a manufacturer can produce a certain item for $7 and sell the item for x...
If a manufacturer can produce a certain item for $7 and sell the item for x dollars, the profit per item will be x - 7 dollars. If it is then estimated that consumers will buy 25 - x items per month, the total profit will be: Total Profit = (number of items sold)(profit per item) = (25 - x)(x - 7) Use this information to create a quadratic equation. Then graph your equation, and based on the graph, what...
Let's say a consumer only consumes pizza and movie. When pizza price was 5 dollars and...
Let's say a consumer only consumes pizza and movie. When pizza price was 5 dollars and movie price was 10 dollars in 2016, the consumer chose Bundle 2. In 2017 pizza price increased to $6 and movie price decreased to 9 dollars. The consumer chose bundle 3 instead of bundle 2. Let's say the consumer doesn't save at all. How did the consumer's 2017 utility turn out (1.Increased 2. Decreased 3. Didn't change 4. Unknown) ? Please explain.
Consider a dataset with at least three values. Suppose the highest value is increased by 5...
Consider a dataset with at least three values. Suppose the highest value is increased by 5 and the lowest is decreased by 2. Which of the following measure(s) would not change? a. Mean b. Standard deviation c. Median d. a and b