In the graph on the right, the demand for hamburger buns has changed because the price of hamburgers has risen from $2.80 to $3.30 per package. The cross-price elasticity of demand between hamburgers and hamburger buns is -2.44. (Use the midpoint formula and enter your response rounded to two decimal places. Be sure to include the minus sign if necessary.) 4.00- 3.75- 3.50- w wo a Price (dollars per package of buns) 3.25- 3.00- 2.75- 2.50- 2.25- 2.00-1.89 1.75+ 1.50- 1.25- 1.00- 0.75- 0.50- 0.25- 0.00+ 0 Hamburger buns -S .D₁ D₂ 6,000 7,0009,000 3,000 6,000 9,000 12,000 15,000 Quantity (packages of buns per week) Q

In the graph on the right, the demand for hamburger buns has changed because the price of hamburgers has risen from $2.80 to $3.30 per package. The cross-price elasticity of demand between hamburgers and hamburger buns is -2.44. (Use the midpoint formula and enter your response rounded to two decimal places. Be sure to include the minus sign if necessary.) 4.00- 3.75- 3.50- w wo a Price (dollars per package of buns) 3.25- 3.00- 2.75- 2.50- 2.25- 2.00-1.89 1.75+ 1.50- 1.25- 1.00- 0.75- 0.50- 0.25- 0.00+ 0 Hamburger buns -S .D₁ D₂ 6,000 7,0009,000 3,000 6,000 9,000 12,000 15,000 Quantity (packages of buns per week) Q

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following are the P/E ratios (price of stock divided by projected earnings per share) for 20 banks. 50, 19, 22, 21, 25, 18, 31, 21, 19, 14, 15, 18, 17, 34, 29, 23, 14, 18, 22, 22 Send data to calculator Find 20" and 75" percentiles for these ratios. (a) The 20th percentile: (b) The 75th percentile:| Continue Cip 40 4- %23 %24 3. 6. 7. R. 00 %24
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