Consider the market for Rainbow sandals. Suppose average household income increases from $44 thousand to $61 thousand per year. As a result, the demand for Rainbow sandals increases from 329 to 525. Using the midpoint formula, what is the income elasticity of demand for Rainbow sandals? nothing. (Enter a numeric response using a real number rounded to two decimal places.) In this instance, Rainbow sandals are a normal good. Furthermore, Rainbow sandals are a luxury .

Avx home entertainment, inc., recently began a “no-hassles” return policy. a sample of 500 customers who recently returned items showed 400 thought the policy was fair, 32 thought it took too long to complete the transaction, and the rest had no opinion. on the basis of this information, make an inference about customer reaction to the new policy. (round your answers to 1 decimal place.)

Jewelry manufacturers produce a range of products such as rings, necklaces, bracelets, and brooches. what fundamental economic question are they addressing by offering this range of items?

University car wash built a deluxe car wash across the street from campus. the new machines cost $219,000 including installation. the company estimates that the equipment will have a residual value of $19,500. university car wash also estimates it will use the machine for six years or about 12,500 total hours. actual use per year was as follows: year hours used 1 3,100 2 1,100 3 1,200 4 2,800 5 2,600 6 1,200 prepare a depreciation schedule for six years using the following methods: 1. straight-line. 2. double-declining-balance. 3. activity-based.