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If timber prices fall by 30%, what will be the expected % change in demand for timber in the economy if the Price Elasticity of Demand is -0.5, and explain the effect on revenue for a timber-selling firm.

Price Elasticity of Demand (PED) is a measure of the responsiveness of demand to a change in price. A PED of -0.5 suggests demand is price inelastic – as Price falls by 1%, Demand will increase by 0.5% (l...

HC
Answered by Harry C. Economics tutor
1981 Views

Core 1: Given that y = x^4 + x^2+3. Find dy/dx

First what we need to do is we need to think of what the question is asking us to find. In this case it is dy/dx but what is this. This is the rate of change of y with respect to x.  For understanding pur...

DS
Answered by David S. Maths tutor
3277 Views

How do I do definite integrals?

A definite integral is an indefinite integral with set limits. If we consider integration as a way of calculating the area under a curve, a definite integral calculates the area under the curve between tw...

CJ
Answered by Charlie J. Maths tutor
3621 Views

How does a signal move from one neurone to another and how does this process change for different motor responses?

The transmission of an action potential- the signal- from one neurone to another occurs over the synapse. The structure of a synapse is as follows; there is a presynaptic bulb, a post synaptic bulb and th...

AH
Answered by Amy H. Biology tutor
3039 Views

i)Explain why first ionisation energy shows a general tendency to increase across a period? ii)Using period 3 as an example, which elements show irregularities in this trend and why?

i)As you move across a period the number of protons in the nucleus, and so the overall nuclear charge, increases. All extra electrons are roughly the same energy and distance from the nucleus. This means ...

DM
Answered by David M. Chemistry tutor
7314 Views

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