This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is the midpoint formula and why is it used? What will be an ideal ... (Read 46 times)

casperchen82

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
What is the midpoint formula and why is it used?
 
  What will be an ideal response?

Question 2

Suppose that you have saved 100 . You can spend it today or you can put it in your savings account for a year and earn 5 interest. What is the opportunity cost of spending the money today?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

parshano

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 29, 2018
Answer to Question 1

The midpoint formula is a convention of calculating elasticity percentages using the values halfway between the initial and new price and quantity demanded values. It is used so an elasticity calculation will not depend on the direction of the change in quantity demanded due to a change in price.

Answer to Question 2

If you put the money in your savings account, you will have 105 to spend next year on the item (or items) of your choice. Thus, the opportunity cost of spending the money today is the enjoyment you give up by not having the 105 to buy something next year.


casperchen82

  • Member
  • Posts: 540
Reply 2 on: Jun 29, 2018
Gracias!

skipfourms123

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Midpoint and Distance forumla Midpoint and Distance forumla
Single-serve cups of infant formula Single-serve cups of infant formula
Use a compound angle addition formula to determine an equivalent trig expression for cos(x + ... Use a compound angle addition formula to determine an equivalent trig expression for cos(x + ...
Slope Formula Slope Formula
formula formula
Quadratic Formula Quadratic Formula
Video: Definition of heart rate

For a complete list of videos, visit our video library