subject
Business, 23.10.2019 02:30 aime005

Suppose the own price elasticity of demand for good x is -4, its income elasticity is 3, its advertising elasticity is 2, and the cross-price elasticity of demand between it and good y is -4. determine how much the consumption of this good will change if: instructions: enter your responses as percentages. include a minus sign for all negative answers.

a. the price of good x decreases by 6 percent. 4 percent

b. the price of good y increases by 7 percent. percent

c. advertising decreases by 4 percent. percent

d. income increases by 3 percent.

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 14:30
Do savings and loan associations offer checking accounts?
Answers: 1
question
Business, 22.06.2019 05:30
The struter partnership has total partners’ equity of $510,000, which is made up of main, capital, $400,000, and frist, capital, $110,000. the partners share net income and loss in a ratio of 80% to main and 20% to frist. on november 1, adison is admitted to the partnership and given a 15% interest in equity and a 15% share in any income and loss. prepare journal entries to record the admission of adison for a 15% interest in the equity and a 15% share in any income and loss under the following independent assumptions. (1) record the admission of adison with an investment of $90,000 for a 15% interest in the equity and a 15% share in any income and loss. (2) record the admission of adison with an investment of $120,000 for a 15% interest in the equity and a 15% share in any income and loss. (3) record the admission of adison with an investment of $80,000 for a 15% interest in the equity and a 15% share in any income and loss.
Answers: 1
question
Business, 22.06.2019 10:00
Carrie works at a canned food production factory. the government wanted to give a boost to the salt industry, so it lined up numerous subsidies and tax exemptions for the sector. this lead to a decrease in production costs. this also meant that consumers could access canned foods at a lower price, which lead to an increase in demand for the product. which kind of economic system is carrie’s company dealing with? carrie’s company is dealing with a/an economy.
Answers: 2
question
Business, 22.06.2019 18:00
Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan
Answers: 2
You know the right answer?
Suppose the own price elasticity of demand for good x is -4, its income elasticity is 3, its adverti...
Questions
question
History, 15.01.2020 17:31
question
History, 15.01.2020 17:31
Questions on the website: 13722363