1. On June 16, 2020 the price of one can of sardines is 12.50 pesos. On that time, Lorenzo is willing to buy 240 cans. The following week, the price of a can of sardines increase and this time Lorenzo is only willing to buy 192 cans. If the demand is 0.92, how much is the new price.
1. On June 16, 2020 the price of one can of sardines is 12.50 pesos. On that time, Lorenzo is willing to buy 240 cans. The following week, the price of a can of sardines increase and this time Lorenzo is only willing to buy 192 cans. If the demand is 0.92, how much is the new price.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
On June 16, 2020 the price of one can of sardines is 12.50 pesos. On that time, Lorenzo is willing to buy 240 cans. The following week, the price of a can of sardines increase and this time Lorenzo is only willing to buy 192 cans. If the demand is 0.92, how much is the new price.
Transcribed Image Text:30
270/180
Px- P180
0.66666666 =
30
Px-P180
0.66666666 x 30 = Px -P180
20
=Px - P180
20 + 180
=PX
200
= x
"Shine and Serve with Honor and Excellence."
Romblon State University
San Femando, Romblon
Business Administration and Management De partment RSU-SFC BAM Form No. 005:
Course Module Format
ASSESSMENT:
1.
On June 16, 2020 the price of one can of sardines is 12.50 pesos. On that time,
Lorenzo is willing to buy 240 cans. The following week, the price of a can of sardines
increase and this time Lorenzo is only willing to buy 192 cans. If the demand is 0.92, how
much is the new price.
A liter of alcohol is sold at 450, on a single month a total of 500 liters is sold in the
market. After sometime, the price of alcohol increase up to 600 per liter yet the number
of liters sold in a single month stays the same. What is the demand for the alcohol.
2.
3.
The price of shampoo is 75 per dozen, quantity demanded is 30 dozen. If elasticity
of demand is 3 how much is the price of shampoo per dozen if the quantity demanded
falls to 22 dozen only.
Prepared by:
ROSENIE B. RUTOR
Faculty
24 / 24
"Shine and Serve with Honor and Excellence."
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