Given the demand function P = 20 – 5Q, find the price elasticity of demand when price of the commodity is 5 Birr per unit. Mention if the demand is price elastic or inelastic at this point​​

Answers

Answer 1

The price elasticity of demand is -0.33 and it is price inelastic.

Since the price function is given as:

P = 20 - 5Q

where, P = 5

Then the quantity will go thus:

P = 20 - 5Q

5 = 20 - 5Q

5 - 20 = - 5Q

-15 = -5Q

Q = -15/-5.

Q = 3

The price elasticity of demand will be:

dQ/dP × P/Q = -1/5 × 5/3 = -1/3 = -0.33

In conclusion, the price elasticity of demand is -0.33.

In this case, the demand is said to be price inelastic since the price elasticity of demand is less than 1.

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Related Questions

On which point do Freud and current developmental psychologists disagree? Group of answer choices importance of early experiences idea that human behavior can be influenced by unconscious or implicit processes importance of close relationships the importance of psychosexual drives

Answers

Answer:

importance of early experiences

Explanation:

Freud was known as a psychologist. His theory disagreed with those of other current developmental psychologists on the issue of the importance of early experiences. His theory supported this stage/experience while those of other psychologists supported importance of adulthood.

They had agreements in the idea that human behavior can be influenced by unconscious or implicit processes, importance of close relationships and the importance of psychosexual drives.

Raj is writing a paper for his abnormal psychology course about how both the Research Domain Criteria (RDOC) and the Diagnostic and Statistical Manual of Mental Disorders (DSM) approach classification and description of mental disorders. He wants to write about the advantages of the RDOC over the DSM. Which of the following points would you encourage Raj to make in his paper?
A. Unlike the DSM, the RDOC allows professionals to diagnose mental disorders.
B. Unlike the DSM, the RDOC is based on scientific evidence.
C. Unlike the DSM, the RDOC emphasizes the causes of mental disorders.
D. Unlike the DSM, the RDOC does not attempt to classify mental disorders

Answers

Answer:

Correct Answer:

D. Unlike the DSM, the RDOC does not attempt to classify mental disorders

Explanation:

The Research Domain Criteria (RDoC) is a research framework for new approaches to understanding and treating mental disorders which affect people in any given environment.

This conceptual framework was developed by the National Institute of Mental Health (NIMH) to be a biologically valid approach that incorporated genetics, neuroscience, and behavioral science. It was designed in such a way to integrate various types of information including genetics, molecules, cells, circuitry, behavior, physiology, and self-report.

how has the religious identity been maintained in nepal? discuss​

Answers

Answer:

Secularism helps promote religious tolerance,

which is required to maintain peace,

co-operation, and unity among people. ...

Nepal has maintained Religious tolerance. Lord

Gautama Buddha was also a perfect examples

He introduced Buddhism although he was from

Hindu background.

Explanation:

HOPE IT HELPS

What are the relations
between power and knowledge

Answers

Answer:

Knowledge is not independent of the individuals who hold it ; it is a product of power relationships. According to Lubit (2001), knowledge is the base of power and respect ; what often lead people to hesitate to share knowledge because they fear a decrease of their power.

Explanation:

According to 1 Corinthians 15:42-57, which of the following is/are descriptive of the glorified state of those who are raised to live with Christ?
a. imperishable
b. immortal
c. spiritual body
d. all of the above

Answers

C. Spiritual body

Because in this part of the bible, nothing is mentioned about imperishable or immortal beings raised to live with Jesus Christ

The glorified state to be raised and lived with Christ is the spiritual body. Thus, option (C) is correct.

What is Corinthians?

Corinthians refers to the view that shows the every aspect of the life of the human being in the light and glory of the Gospel. The Corinthians refers to brought up and raised, which has the characteristics of Corinth.

It specifically discusses the resurrection, food, sexual propriety, gatherings for worship, and disagreements among Christians.

The fundamental theological misunderstanding of the significance of Jesus' death and resurrection is at the root of many of the problems in the Corinthian community because the Corinthians thought they had died and risen with Christ.

They consequently thought they already reaped the full rewards of redemption. Therefore, it can be concluded that option (C) is correct.

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Which behavior would best describe someone who has good communication skills with customers ? a) Following up with some customers b) Talking to customers more than listening to them c) Repeating back what the customer says d) Interrupting customers frequently

Answers

a) following up with some customers

When the influence of the situation is _______, the consequent behavior is more likely to be a result of _______.

Answers

This question is missing the options. I've found the complete question online. It is the following?

When the influence of the situation is _______, the consequent behavior is more likely to be a result of _______.

Select one:

a. weak; individual personalities

b. weak; external circumstances

c. strong; internal forces

d. strong; dispositions

Answer:

The correct option is letter A. When the influence of the situation is weak, the consequent behavior is more likely to be a result of individual personalities.

Explanation:

Since behavior is a product of a situation combined with the person, it is fair to think that the result may be accounted for differently according to how strong each element is. Thus, if a situation and the "sub-elements" it includes - such as the presence of others, cultural and social influences, and so on - are weak, it is only logic to assume that the element "person" will be predominant. The result behavior is, therefore, more likely to be a consequence of that individual's personality.

what are the phages of development ?​

Answers

Answer:

The use of the viruses of bacteria, bacteriophages (phages), as therapeutic agents to treat bacterial infections began 20 years before the first clinical use of an antibiotic drug, but the introduction of broad-spectrum antibiotics in the 1940s rapidly eclipsed and displaced the development of phage therapeutics in much of the world

__________ Involves the presence or absence of dissatifiers, such as working conditions, pay, company policies, and interpersonal relationships.

Answers

Answer:

Hygiene factors- involves the presence or absence of job dissatisfiers, such as working conditions, pay, company policies, interpersonal relationships. When poor work is dissatisfying. Good does not motivate employees.

Explanation:

I can be big or small. There are beaches or shorelines all AROUND me. Sometimes I get lonely because it's just me. Maybe you could get deserted on me and we could hang out. Who am I?

Answers

Answer:

Island hope this is right and helps you

Answer:

You are an Island.

Explanation:

See an Island can be big or small, like Hawaii for big and Marshall Islands for small. In an Island there are beaches and shorelines always surrounding it bcuz it is next to the ocean. Sometimes an island could get lonely cuz it's very rare for someone to get washed up on it. On the island, someone could get shipwrecked and end up living on the island. So in conclusion, you are an island!

According to Dodge's information-processing theory of social problem solving, aggressive children's primary problem is that they: Group of answer choices have a poor capacity to generate strategies to achieve their goals. have a bias in their interpretations of others' behaviors. expect aggressive behavior to be useful in getting along with others. do not possess the ability to formulate socially acceptable goals.

Answers

Answer:

Correct Answer:

3.  expect aggressive behavior to be useful in getting along with others.

Explanation:

Social information processing theory suggests that children with disruptive behavior problems perceive, interpret, and make decisions about social information in ways that increase their likelihood to engage in aggressive behaviors.

For example, if a child is pushed by another child in the lunch line, he/she may be more likely to assume the other child did it intentionally to hurt them, rather than assume that it was an accident.

Do you agree that most rewarded people have the most dangerous or important job in society? why or why not?​

Answers

Answer:

I disagree that the most rewarded people have the most dangerous or important job in society because there are people who are rich and have a successful life made their future by buisness or working very on their career. But as solider, who has a perilous job aren't being treated as importanted as they should be. They put their lives on the line, such as police officers, firemen, etc.  And they are not being rewarded by either the government or citizens as much as they should be.

what are the advantages of doing business?​

Answers

Answer:

There are several advantages that, generally speaking, come with success in business ownership:

Independence. As a business owner, you're your own boss.

Lifestyle. Because you're in charge, you decide when and where you want to work.

Financial rewards. ....

Learning opportunities. ...

Creative freedom and personal satisfaction.

Explanation:

I hope this will help you

____ and____ seperate greenland from the island of canada​

Answers

Answer:

Baffin bay and Davis strait

Answer:

[tex]\boxed{\mathrm{view \: explanation}}[/tex]

Explanation:

[tex]\mathrm{ \underline{Baffin \ bay} \ and \ \underline{ Davis \ strait} \ seperate \ Greenland \ from \ the \ island \ of \ Canada. }[/tex]

Explain why Pope Urban II helped Byzantine at the start of the Crusades.

Answers

Answer:

Pope Urban II helped the Byzantine at the start of the Crusades because he wanted to reclaim the Holy Land from the Muslims as well as free the churches on the eastern side. In return, he declared, more like promised, that everyone fighting or taking part in this war would be forgiven and pardoned for all their past sins.

In the neo-Piagetian scheme of self-concept development,the third stage of development,which begins around 7 or 8 years of age,involves the ability to form
A) representational systems.
B) class inclusion.
C) sensorimotor schemes.
D) transitional inferences.

Answers

Answer:

A) representational systems.

Explanation:

Representational systems is a term that describes a form of a neo-Piagetian scheme of self-concept development that deals with how the human mind processes and stores information. In other words, it illustrates how the experience is depicted in the mind in sensorial terms. for example, kids integrate into their self-image the developing knowledge of how others observe them

However, given that, children's self-definition usually changes between the ages of 5 and 7, indicating the growth of self-concept. Neo-Piagetian investigation affirms that the systems of representations begin at age 7 and above, which involves particular features of the self-concept in various ways, by reducing the feeling of all or nothing, this, the self-descriptions will be more neutralized.

Hence, the right answer is option A, Representational Systems

Answer:

The correct answer is A.

Explanation:

Self-concept and cognitive development determine how we feel about ourselves and guide our actions. The sense of '' I '' also has a social aspect: children incorporate into their self-image their growing understanding of how others see them. Self-concept begins to establish itself in young children, as they develop self-awareness. Children's self-definition usually changes between the ages of 5 and 7, reflecting the development of self-concept. In the third stage (7 years) from a Neopiagetian analysis, it maintains that the systems of representations begin, they begin to integrate specific features of the self in a concept of several dimensions, by decreasing the thought of all or nothing, the self-descriptions will be more balanced.

in which type of government is political power distributed among the widest group of people?​

Answers

Answer: Direct Democracy

I answered this on a quiz and I was bale to go back and look back at my answers. For this question the answer is "Direct Democracy"

(I hope this helps!)

Whats is another name for instructional media​

Answers

Answer:

It's another name is Educational media.

Another name would be Educational Media.

A governmental monitoring function of the courts, which lends legitimacy to government, is the power of ________________.

Answers

Answer:

A

Explanation:

A governmental monitoring function of the courts, which lends legitimacy to government, is the power of ___________________.

*a. prosecution b. injunctions. investigations. persecution

Which of the following statements is NOT TRUE about economic systems?

Answers

Answer: In a command economic system, the answers to the questions are determined by the interactions of buyers and sellers.

Explanation:

How doos financial resources influence the development of a nation 2 write in two
sentence?​

Answers

Answer:

financial resources lead to the development of the economy of the country, leading to generation of employment opportunities, reduction in poverty of a nation

more financial resources create more investment opportunities

Explanation:

Mexico and United States government compare

Answers

Answer:

hope this helps

Explanation:

America: 50 states and 1 district

Mexico: 32 states

America :4 July 1776 (declared independence from Great Britain); 3 September 1783 (recognized by Great Britain)

Mexico: 6 September 1810 (declared independence from Spain); 27 September 1821 (recognized by Spain)

America's flag: 50 stars and has stripes

note: the design and colors have been the basis for a number of other flags, including Chile, Liberia, Malaysia, and Puerto Rico

Mexico: three equal vertical bands of green (hoist side), white, and red; Mexico's coat of arms (an eagle with a snake in its beak perched on a cactus)

note: similar to the flag of Italy, which is shorter, uses lighter shades of green and red, and does not display anything in its white band

Ashton is a crime scene investigator. He ensures that all the evidence gathered at the scene is properly handled and labeled. What is Ashton protecting? Ashton ensures that the- blank -, the documentation of who possesses evidence at all times, is protected by properly handling and labeling evidence.

Answers

Answer: Ashton is protecting his license

Explanation : Ashton ensures that the liability , the documentation of who possesses evidence at all times, is protected by properly handling and labeling evidence.

Ashton is protecting his license. Ashton ensures that the liability, the documentation of who possesses evidence at all times, is protected by properly handling and labeling evidence.

Because evidence collected at the crime scene will paint a picture of what happened there for the court to evaluate during its deliberations, crime scene management skills are an incredibly important task component of an investigation.

This image will be made up of witness statements, photos taken at the scene of the crime, physical evidence, analysis of that evidence, and analysis of the crime scene.No Other documents will be as crucial to the investigator as the notebook, despite the fact that additional records will be made by the investigator to manage the crime scene. The investigator's personal reference for keeping track of the investigation is the notebook.

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why is oil such an important natural recorce in the middle east

Answers

Answer:  You can consult:

However, oil has made the region strategically important for the world's superpowers in the 20th century, whereas the significance of the Middle East today had increased even more because oil is the major fossil fuel along with natural gas and the Middle East is one of the major suppliers of oil in the international

Explanation:

I'm not sure but hope it helps.

Answer:

It's one of the major source of income.

maal has to make an important phone call. Unfortunately, his cell phone is not charged so he has to use his landline, which does not store phone numbers. To make the call, he has to get the number from his cell phone and remember it long enough to dial it on his landline. For this task, which memory is most important

Answers

Answer:

The short term memory

Explanation:

The frontal lobe is the part of the brain responsible for short term memory. The short term memory holds information temporarily for processing and evaporates quickly, usually after information is recalled and used. It also has limited capacity. Usually information can be stored in the short term memory through rehearsal.

The requirement to earn all the necessary degree in Law​

Answers

Answer:

Law is a legal studies comes into contact a area of human life politics,economics, business, human rights, and trade .

Explanation:

Law degree is useful to prepare for specific legal careers range of professional roles in the general life.

There are lots of different types of degree of law available :- LLB (Bachelor of law)you on to the national bar and low society qualification an practicing lawyer.

Some countries in a degree BA in law (bl) they are alternatives names are used in degree of law.

LLB and BL  are the law programs  with the focusing on the law degree.

Practical law training in a courtroom setting and public speaking and argument function.

Law degree is way to useful way to conflicts and issues in modern society in a providing a framework.

Four stress management strategies discussed in the text are: Develop a stress-free home ofice, Maintain an optimistic outlook, Practice healthy emotional expression and ________.

Answers

Answer:

Maintaining healthy lifestyle.

Explanation:

It is known that combination a healthy emotion, in as much as keeping fit and working out and also consumption of good food which contain chlorophyll are good to the body; and all work together in stress relief to the body.

Healthy lifestyle is seen to give additional benefits such that the benefactor fells an endorphin rush, a release of frustration, or added longevity in life span and health wise.

When a person is keen about keeping a healthy lifestyle, their are more than worth the effort it takes to maintain it and it therefore increases in health and wellness that you experience, as well as the reduction in stress and can be wonderful sources of great motivation.

Despite constitutional power limits, the national government possesses many tools for controlling the actions of the states through fiscal means. Describe some of the ways, and include devolution, cooperative federalism, and dual federalism.

Answers

Answer:

In simple words, Federalism divides policy by having two federal authorities – the national policy as well as the state legislature – which restrict the authority of both governments. Division of authorities sets internal constraints by splitting the administration against it's own, granting distinct duties to various branches and requiring everyone to form coalitions.

How can you say that human resource contributes to the economic development of a country​

Answers

Answer:

human resources work and earn money. they gives taxes to country and it contributes to the economic development of a country

if there were no hills in nepal,the rainfall would not occur and nepal would remain like desert​

Answers

Answer:

due to high pressure Nepal get rain

Explanation:

Nepal gets more rain due to high pressure.

Summer Monsoon Rainfall is variability from the months of June to September over Nepal that is moisture carried with eastern arm of low pressure during Northeastern India.

Over the Nepal Himalaya, greater rainfall is central-eastern part with the most aspects to the high. Western part of country receives more rain than the east.

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