Six months ago, the price of gasoline was $2.20 per gallon. now, the price is $2.40 per gallon. in response to this price increase, the number of gallons of gasoline purchased has declined by 2 percent. based on this information, what is the absolute price elasticity of demand for gasoline?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Six months ago, the price of gasoline was $2.20 per gallon. now, the price is $2.40 per gallon. in response to this price increase, the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Seasonal patterns A. cannot be predicted. B. are multiyear runs of observations above or below the trend line. C. reflect a shift in the time series over time. D. are regular repeated patterns.
Answers (1)
What rights and responsibilities are there when a person who has signed an agreement to use credit
Answers (1)
Why do consumers benefit from free trade and the resulting competition between businesses?
Answers (1)
Using the following information, what is the cost to lease a car? • Security deposit $320 • Monthly lease payment $320 per month for a five - year lease • Opportunity cost of security deposit $320 * loan period (in years) * 2% interest •
Answers (1)
During June, Vixen Fur Company sells $850,000 in merchandise that has a one year warranty. Experience shows that warranty expenses average about 3% of the selling price.
Answers (1)
New Questions in Business
Cannon cannery, inc. estimated its factory overhead at $510,000 for 2008, based on a normal capacity of 100,000 direct manufacturing labor hours.
Answers (1)
Calvin knew his small local hardware store could not compete on price with the big-box discounters so he began offering classes for new homeowners and found other ways to provide services the bigger stores don't. Calvin's competitive edge is:
Answers (1)
Which of the following is an important principle for effectively interacting with the audience during presentations? Multiple Choice Reframe questions to match the audience's agenda. Restrict the number of questions to a minimum.
Answers (1)
Altamonte Telecommunications has a target capital structure that consists of 45% debt and 55% equity. The company anticipates that its capital budget for the upcoming year will be $1,000,000.
Answers (1)
A loan period does not affect the total cost of a loan
Answers (2)