Pfizer performed a survey asking how much governments are willing to pay for the vaccine. The following data was aggregated about demand in Turkey At price TL 50: 50,000,000 doses, at price TL 75: 45, 000,000 doses will be demanded.
Calculate the price elasticity of demand
Using the PED you calculated comment on the sensitivity of demand to price changes.
Which of the two prices will be preferable for Pfizer? and why?
How will the pricing decision differ if PED was -2?
Answers
Explanation:
Answer:
\huge{\underline{\underline{Given→}}}
Given→
\sf\green{Length\:of\:rectangel=x+2\:units}Lengthofrectangel=x+2units
\sf\green{Breadth\:of\:rectangel=2x\:units}Breadthofrectangel=2xunits
\huge{\underline{\underline{To\:Find→}}}
ToFind→
\sf\purple{Perimeter\:of\:the\:rectangle}Perimeteroftherectangle
\sf\color{purple}{Area\:of\:the\:rectangle}Areaoftherectangle
\huge{\underline{\underline{Answer→}}}
Answer→
Perimeter:-
As perimeter =2(Lenght+Breadth)
\sf\blue{→P=2(l+b)}→P=2(l+b)
\sf\blue{→P=2(2x+x+2)}→P=2(2x+x+2)
\sf\blue{→P=4x+2x+4}→P=4x+2x+4
\sf\blue{→P=6x+4}→P=6x+4
\mathrm{\boxed{\boxed{\pink{→P=6x+4✔}}}}
→P=6x+4✔
Area:-
As area =Length x Breadth
\sf\color{blue}{→Ar=l\times b}→Ar=l×b
\sf\color{blue}{→Ar=2x\times (x+2)}→Ar=2x×(x+2)
\sf\color{blue}{→Ar=2x(x+2)}→Ar=2x(x+2)
\sf\color{blue}{→Ar=2x^2+4x}→Ar=2x
2
+4x
{\boxed{\boxed{\pink{→Ar=2x^2+4x✔}}}}
→Ar=2x
2
+4x✔
☞ Hence the Perimeter of the rectangle is 6x+4 units and it's area is \mathrm{2x^2+4x}2x
2
+4x units which is the required answer.
HOPE IT HELPS.