Business, 02.10.2019 04:10 youngsavage10120

Adam and barb go to the store to purchase some lottery tickets. without looking at the price, adam says "i’ll take 10 lottery tickets," and barb says "i’ll take $10 worth of lottery tickets." what is each person’s price elasticity of demand for lottery tickets

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Answer from: sxbenn

Price elasticity of demand for Adam=0

Price elasticity of demand for Barb=1

Explanation:

Price elasticity of demand = %age change in demanded QTY / %age change in demanded price

The price is not important for Adam, and he demands a fixed quantity, hence his demand curve is vertical. A perfectly vertical demand curve is can inelastic demand curve and has price elasticity =0

The quantity is not important for Barb, and he demands a fixed price, hence his demand curve is horizontal. A perfectly horizontal demand curve is has price elasticity =1

Answer from: Quest

if kj of heat is transferred o 1200 g liquid water at 36'c, what would the new temperature of the water be? (he specific heat capacity of liquid water is 4.186 j/g''c)

a. 15'c

b.100'c

c.51'c

d.36'c

Answer from: Quest

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Adam and barb go to the store to purchase some lottery tickets. without looking at the price, adam s...

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