Decisions for Tomorrow In 2019, 360,000 electric vehicles (EVS) were sold in the United States. Instructions:...
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Decisions for Tomorrow In 2019, 360,000 electric vehicles (EVS) were sold in the United States. Instructions: Round your responses to one decimal place. a. Suppose the average price of these cars was $40,000. Calculate price elasticity of demand if a $7,000 tax credit caused an increase in sales by 20,000 EVs. 8.3 b. Calculate cross-price elasticity if a 15 percent Increase in the price of gasoline caused an increase in sales of EVs by 35,000. Decisions for Tomorrow In 2019, 360,000 electric vehicles (EVS) were sold in the United States. Instructions: Round your responses to one decimal place. a. Suppose the average price of these cars was $40,000. Calculate price elasticity of demand if a $7,000 tax credit caused an increase in sales by 20,000 EVs. 8.3 b. Calculate cross-price elasticity if a 15 percent Increase in the price of gasoline caused an increase in sales of EVs by 35,000.
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Related Book For
Cornerstones of Managerial Accounting
ISBN: 978-0324660135
3rd Edition
Authors: Mowen, Hansen, Heitger
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