Answer:
1.1 substitutes do not market together
-0.35 complements market together
Explanation:
1.1
-0.35
Cross price elasticity of demand measures the responsiveness of quantity demanded of good A to changes in price of good B.
If cross price elasticity of demand is positive, it means that the goods are substitute goods.
Substitute goods are goods that can be used in place of another good.
if the price of a good increases, the demand for the substitute increases and if the price of the good reduces, the demand for the substitute increases.
If the cross-price elasticity is negative, it means that the goods are complementary goods.
Complementary goods are goods that are consumed together
Cross price elasticity = percentage change in quantity demanded of good A / percentage change in the price of good B
Frizzles = -22% / -20% = 1.1
Mookies = 7 / -20 = -0.35
Answer:
B. an increasingly global society
Explanation:
Communication may be explained as the exchange of information and messages between two or more people ; the sender which initiates the communication process and the receiver who responds to the initiated message. This means communication is an important between team members and any impairment in the communication process will be make the team less effective. Technology has helped in creating a wide range of communication means. However, the growing level of interdependence or globalization in the society whereby effectiveness of most processes is no more independent, such that the failure or one system will invariably affect the other causes a significant setback whenever such problem occurs.
Answer:
$2,900
Explanation:
If we use a cost function, it will be easy to understand. Cost function = (variable cost per unit × quantity) + fixed cost.
Here,
Direct cost per snowmobile = $2,000. It is the variable cost.
Overhead cost = $90,000. It is a fixed cost.
Total snowmobiles = 100 units
Total cost = ($2,000 × 100 snowmobiles) + $90,000
Total cost = $290,000
We know,
Average cost per snowmobile = Total cost ÷ total quantity
Average cost per snowmobile = $290,000 ÷ 100
Average cost per snowmobile = $2,900
Answer:
A. Yes, it should continue to produce because the firm's revenues cover the total variable cost of $16,000.
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. Market participants are price takers.
In the short run ,if price is less than average variable cost, the firm should shutdown.
Also, if total revenue is less than the total variable cost, the firm should shutdown into the short run.
Total revenue = $10 x 3000 = $30,000
Total cost = Fixed cost + variable cost
$36,000 = $20,000 + variable cost
Variable cost = $16,000
Total revenue is greater than total variable cost, so the firm should continue operations in the short run.
I hope my answer helps you