1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
diamong [38]
2 years ago
15

According to the u. S. Department of energy, the average price of gasoline in the u. S. Fell by 14% in 2015. The number of hybri

d electric vehicles (hev) sold in the u. S. Fell by 36% in the same year. Calculate the cross-price elasticity of demand for hevs and gasoline.
SAT
1 answer:
Rudiy272 years ago
7 0

The cross-price elasticity of demand for hevs and gasoline is  2.57.

<h3>What is cross-price elasticity of demand?</h3>

A cross-price elasticity of demand is an economic tool that measure the %change in quantity demand for a good after a change in the price of another

The demand is calculated by %change in the quantity demanded of one good over %change in the price of the other good.

Hence, the % of quanitty demanded is 36% and the % of change in the price is 14%

Cross-price elasticity of demand = 36% / 14%

Cross-price elasticity of demand = 2.57142857143

Cross-price elasticity of demand = 2.57

In conclusion, the cross-price elasticity of demand for hevs and gasoline is  2.57.

Read more about cross-price elasticity of demand

<em>brainly.com/question/10712828</em>

You might be interested in
How does the narrator react to being in the soccer<br>game?​
ikadub [295]

Answer: Maybe daydreaming about it as it was his or her first dream for being a soccer player. It depends on the story of the narrator.

Explanation:

8 0
3 years ago
to study a rock sample geologists observe the rocks mineral composition color and tempature true or false
kakasveta [241]

hi the answer is false hope this helps

7 0
3 years ago
A certain type of ship has two tanks in its engine. Each tank contains a different type of fuel. When the engine turns on, the s
sesenic [268]

Answer:

Fuel 1 changed phase because the energy drawn from it dropped its temperature below the transitional temperature that causes a phase change, fuel 2 still has its temperature well above the transitional temperature required to change phase.

Explanation:

For a substance to change phase, a transitional temperature has to be reached. This is because, the temperature of substances generally indicates the average kinetic energy of its molecules. An increase in energy input to the system will result in a change to a more mobile phase like from solid to a liquid state or from a liquid state to a gaseous state state, while taking energy from the system will cause a transition to a less mobile phase like gas to liquid or liquid to solid state.

3 0
3 years ago
Jordan wants to play a basketball game at a carnival. The game costs the player \$5$5dollar sign, 5 to play, and the player gets
Irina-Kira [14]

Based on the payoffs and the probabilities given, we can calculate the mean to be <u>0.8 shots made. </u>

<h3>What is the mean?</h3>

The mean in this scenario will be a weighted average of the probabilities that a number of shots will be made.

The mean will be:

<em>= ∑ (Number of shots x Probability of number of shots)</em>

= (0 x 0.36) + (1 x 0.48) + (2 x 0.16)

= 0.8 shots

In conclusion, the mean is 0.8 shots.

Find out more about weighted average at brainly.com/question/18554478.

5 0
2 years ago
The number of subscribers y to a website after t years is shown by the equation below: y = 50(1. 75)t which conclusion is correc
3241004551 [841]

Answer:

t =  \frac{y}{87.5}

Explanation:

Hope this helps you

6 0
2 years ago
Other questions:
  • Chloe has a vegetable garden and wants to increase the amount of nitrogen in the soil how can she most likely do this
    13·1 answer
  • What are 5 steps in resolving interpersonal conflict?
    9·1 answer
  • Give a situation where you are adopted a holistic view
    14·1 answer
  • Cora is playing a game that involves flipping three coins at once.
    7·1 answer
  • Which of the following is not a step in the decision-making process?.
    8·1 answer
  • When the body is in the anatomically correct position, the palms of the hands are facing ______.
    12·1 answer
  • What did germany think would motivate mexico to declare war on the united states?
    11·1 answer
  • Juanita is deciding whether to buy a skirt that she wants
    6·1 answer
  • Please help! I don't understand how to do this.
    15·1 answer
  • What steps would you take to choose and research careers
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!