Suppose the price of apples increases from $20 to $27, and in response quantity demanded decreases from 108 to 98. Using the mid-point formula, what is the price elasticity of demand

-0.325

Explanation:

The computation of the price elasticity of demand using mid point formula is shown below:

= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)  

where,  

Change in quantity demanded is

= Q2 - Q1

= 98 - 108

= -10

And, average of quantity demanded is

= (98 + 108 ) ÷ 2

= 103

Change in price is

= P2 - P1

= $27 - $20

= $7

And, average of price is

= ($27 + $20) ÷ 2

= 23.5

So, after solving this, the price is -0.325

ans.

heterothermic organisms include those organisms that can switch between homeothermic (having body temperature higher than environment) and poikilothermic (having variation in internal body temperature) strategies.

some migratory birds show heterothermy as they decrease their metabolic rate during cold nights to keep their body temperature low. drop in metabolic rate allows increase in production efficiency of birds that reduces the internal body temperature to make it equal to external cold temperature during cold nights.

thus, the correct answer is 'birds allow their temperature drop in order to increase their production efficiency.'

answer; bootstrapping is your answer;