When the price of apples is $1.00 each a local farmer sells 500 apples. When the farmer increases the price of apples to $1.20 she only sells 450 apples,
Please enter your answers as numeric responses (ie. 5 or 5%, not "Five" or "Five percent"). Do not
enter negative numbers rather just use the absolute value for all percentage changes (ie, if the
quantity decreases by 5% just enter 5% and not -5% or (5%)).
By what percentage did the price of apples increase? 20%
By what percentage did the quantity of apples sold decrease? 10%
What is the Price Elasticity of Demand (PED) for apples? 0.5
If the price of apples had increased by 10% by what percentage would quantity demanded have
fallen? 5

20%

10%

0.5

5%

Step-by-step explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price  

Percentage change in price = (1.2/1) - 1 = 20%

Percentage change in quantity demanded = 450/500 - 1 = 10%

x=17

step-by-step explanation:

solve 3x-24=x+10

then that makes it 2x=34 because you subtract an x from both sides to get rid of the one on the right, and then you add 24 to both sides to get rid of the 24 on the left

divide by both sides by 2 to get your answer so that you can get your answer

answer: i don't understand. what are the options

step-by-step explanation: