Incorrect Percentages(A)
.pdf
keyboard_arrow_up
School
Eastern Gateway Community College *
*We aren’t endorsed by this school
Course
105
Subject
Economics
Date
Jan 9, 2024
Type
Pages
3
Uploaded by nikolenadine
Incorrect Percentages(A)
Name: Nikole Stull
Must show calculations/formula for credit. Any answer given with no calculations shown will result in no
credit for that answer.
A newspaper headline claims: "Apple spends far less on Research & Development than any of its rivals."
Further into the story, the reporter writes that Apple spends a paltry 2% of revenues compared with
14% at Google and Microsoft.
What is the mistaken assumption here?
-
The mistaken assumption is that they all made the same revenue.
Why is that assumption incorrect?
-
It is not correct because we do not know how much each company made. All we know is the
revenue % they spent.
Is there a situation where the headline is still correct?
-
The headline would still be correct as long as the article stated how much revenue was made
and how if all the companies made the same amount.
A shop owner raises the price of a $150 pair of shoes by 40%. After a few weeks, because of falling sales,
the owner reduces the price of the shoes by 40%. A customer then says that the shoes are back at the
original price.
What is the mistaken assumption here?
-
The mistaken assumption is that the shoes are back at the original price.
Why is that assumption incorrect?
-It is incorrect because the price of the shoes would be 40% less than the increased price.
What do the shoes actually cost now? show calculation.
-
150(1.4) =210
-
210(1-0.4) =126.
-
The shoes cost $126
By what percent should the shoes be decreased in order to have the price back at $150? Round to the
nearest 10th percentage. (for example if your decimal answer is .058267 your answer would be 5.8267%
round to nearest 10th percent answer is 5.8%) show calculation
-
210x=150, 150/210 = 0.71428
-
0.71428(100) = 71.4%
-
1-.714= 0.286
-
0.286(100) = 28.6%.
-
The shoes needed to be reduced by 28.6% to cost $150 again
The annual number of burglaries in a town rose by 50% in 2012 and fell by 10% in 2013. Hence the total
number of burglaries increased by 40% over the two- year period.
What is the mistaken assumption here?
-
The mistaken assumption is that the crime rate only rose by 40% over the course of two
years.
Why is that assumption incorrect?
-
That assumption is incorrect because the crime rate rose 50% the first year and 40% the
second year.
By what percent has the number of burglaries actually changed in the two-year period? show calculation
-
100(1.5) = 150 burglaries in 2012
-
150(.9) = 135 burglaries in 2013
-
135-100 = 35% increase in burglaries over the two-year period
By what percent would the crime have to decrease in the second year in
order for the change over the two-year period to actually be a 40% increase? Round to nearest 10th
percent (ex-decimal .05873 is 5.873% to one decimal is 5.9%) show calculation
-
150x = 140. 140/150 = 0.93333
-
1-0.93333 = 0.06667(100) = 6.667 or 6.7%
-
The crime rate would have to decrease by 6.7% to be a 40% increase over the two-year
period.
A store is currently offering a 60% discount on all items purchased. Your cashier is trying to convince you
to open a store credit card and says to you, "In addition to the 60% discount you are receiving for
purchasing these items on sale today, you will get an additional 20% off for opening a credit card
account. That means you are getting 80% off!"
What is the mistaken assumption here?
-
The mistaken assumption is that you get a total of 80% off your purchase.
Why is that assumption incorrect?
-
It is incorrect because you only get 60% off your purchase.
-
Opening the credit card would give you an additional 20% off the already discounted
total.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
Question: What conclusions can you draw from these data?
arrow_forward
Briefly define
arrow_forward
Note:-
Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
You will get up vote for sure.
arrow_forward
Don't give answer in image format
arrow_forward
Note:-
Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
You will get up vote for sure.
arrow_forward
Which type of graph will be suitable for representing the above sales revenue by regions
arrow_forward
Note:-
Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
You will get up vote for sure.
arrow_forward
Question A .Full explain this question and text typing work only We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this line
arrow_forward
Please give me accurate answer with fluu explanation otherwise i give multipe downvote
Note:-
Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.
Answer completely and accurate answer.
Rest assured, you will receive an upvote if the answer is accurate.
arrow_forward
Typed plz and asap please provide me a quality solution for better rating and take care of plagiarism also
arrow_forward
Could you provide some graphs on the above?
arrow_forward
Please help solve fill in the blanks of the graph
arrow_forward
7
arrow_forward
Itranscript
The table below shows some of the costs incurred at Bill's Brickworks. Complete the table. If your answer is not a whole number, round to 2
decimal places.
L
1
2
3
4
5
Q
TVC
800
1,600
TC
2,000
400
960
1520
1760 3,200 4,400
1880
4,000
AFC
1.25
3,600 0.79
0.68
5,200 0.64
AVC
2.00
1.67
1.58
1.82
2.13
ATC
2.92
2.37
2.50
2.77
MC
---
1.43
3.33
6.67
arrow_forward
Note:-
Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
You will get up vote for sure.
arrow_forward
Need graphs, as well as the following:
arrow_forward
I need the 3 answers below please!
arrow_forward
Note:-
Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
You will get up vote for sure.
arrow_forward
Solve for Question (C) How to Maximize Revenue
arrow_forward
Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve.
Note: You will not be graded on any changes made to this graph.
PRICE (Dollars per scooter)
325
300
275
250
225
200
175
150
125
100
75
50
25
0
09 18 27
A
+
36 45 54 63 72 81
QUANTITY (Scooters)
B
Demand
90
90 99 108 117
Total Revenue
?
arrow_forward
Note:-
Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
You will get up vote for sure.
arrow_forward
One of South Africa’s cellphone operators, Cell C, is changing their overall business strategy.The focus is now on providing customers with “affordable and accessible services." To do thisthey need your economic expertise.They know that when price for premium services increases from R2/minute to R2.2/minute thedemand for their services falls from 12 customers to 10 customers.
Question: What recommendations can you make to increase total revenue?
arrow_forward
Please give me accurate answer with fluu explanation otherwise i give multipe downvote
Note:-
Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.
Answer completely and accurate answer.
Rest assured, you will receive an upvote if the answer is accurate.
arrow_forward
Question 2: Calculate the missing values in the following table. Show all
formula and calculations in detail. (Answers not showing the details of
calculations & formula will be awarded only fifty percent marks for this
question.)
(10 marks)
Output (Units) TC (OMR)AC (OMR) MC (OMR)
55
1
85
110
3
130
4
40
15
|42
280
17
90
8
110
19
610
10
150
arrow_forward
Exercise A.4.
Explain what is the market power of a company. How can it be measured? What does it depend
on? Graphically represent two companies, one with high market power and one with low market
power.
arrow_forward
Give me correct answer with calculation otherwise i give downvote
Note:-
Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.
Answer completely and accurate answer.
Rest assured, you will receive an upvote if the answer is accurate.
arrow_forward
Note:-
Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
You will get up vote for sure.
arrow_forward
This is all the given information to solve this question. The graphs do not have to have any specific numerical values, just the trends and curves that need to represent the situation that is introduced in this question. I was told to "include correctly labeled diagrams, if useful or required, in explaining your answer. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes." (so no numerical values are really needed)
arrow_forward
What is her market share? (Round answers to 2 decimal places, e.g. 15.25%.)
Ruth
Similar Store
Larger Store
Outside Store
Total Sales w/o Outside Store
Total Sales including Outside Store
Ruth market share w/o Outside
Ruth market share with Outside
Units
110
110
880
1,100
1,100
2,200
%
%
Dollars
$10,450
$6,050
$50,380
$38,500
$66,880
$105,380
%
%
arrow_forward
The following question that I posted is considered as a one question. Problem is that its long and that's why I split it into two different ScreenShots so you can see the graphs easily.
arrow_forward
The 1994 market shares of the firms in the market for paper towels in the United States were: Procter & Gamble 37%, Scott 18%, James River 12%, Georgia-Pacific 11%, Kimberly-Clark 4%, with the remaining 18% spread among several smaller firms.
a. Find the HHI for the market. (Note: you must create imaginary market shares for the firms in “Other” when calculating HHIs. The usual practice is to make the shares as large as possible, given that they are at most as large as the smallest listed firm, which in this case was Kimberly-Clark.)
b. One way of putting some intuition behind the HHI is to calculate how many equal-sized firms would generate the HHI of some actual industry. To do so, calculate the HHI in terms of fractional market shares (e.g., use .48 instead of 48%, and do NOT multiply the sum by 10,000). Then, for n equal size firms, the HHI = n(si2) = n(1/n)2 = 1/n. Find the number of identical-sized firms that would generate the HHI you found in part a.
arrow_forward
Q. 1
arrow_forward
Complete the following table. Missing values are
denoted by a number inside parentheses (X). Place your
answers in the corresponding numbered fields below the
table.
Quantity FC VC TC AFC AVC ATC MC
0
144 0 (1)
1
2
3
4
---
---
(2) (3) 179 (4) (5) (6)
(8) (9) (10) (11)
30
(14) (15) (16) (17) (18) (19) 15
(20) (21) (22) (23) (24) 60 (25)
(7)
m
(12) (13)
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Related Questions
- Don't give answer in image formatarrow_forwardNote:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forwardWhich type of graph will be suitable for representing the above sales revenue by regionsarrow_forward
- Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forwardQuestion A .Full explain this question and text typing work only We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this linearrow_forwardPlease give me accurate answer with fluu explanation otherwise i give multipe downvote Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you