Answer: Cross price elasticity is - 0.12
Explanation:
Cross price elasticity measures the responsiveness of quantity demanded of good a to a change in any of its related variable such as good b.
Given,
Pa=6, Pb=3, and M=30,
So, cross price elasticity is given by
Since, cross price elasticity is negative it means that good a and good b are complements to each other.
Answer: Option(c) is correct.
Explanation:
A market refers to a term or institution in which various buyers and sellers of a particular good interact with each other to perform certain transactions. In a market, there is a buying and selling of goods and services between the consumers and sellers and price is determined by the market forces. Examples of market; Automobile market, fruit market, vegetables market, wood market, etc.
Answer:
Data that are observed or collected directly from respondents are called primary data.
Explanation:
Primary data are data obtained directly from respondents via field survey. These data are usually collected through the use of questionnaires or interviews.
/* Works only if a >= 0 and b >= 0 */ int pow(int a, int b) { if (b == 0) return 1; int answer = a; int increment = a; int i, j; for(i = 1; i < b; i++) { for(j = 1; j < a; j++) { answer += increment; } increment = answer; } return answer; } /* driver program to test above function */ int main() { printf("\n %d", pow(5, 3)); getchar(); return 0; }
Answer:
The main difference between arbitration and mediation is that in arbitration the arbitrator hears evidence and makes a decision. In mediation, the process is a negotiation with the assistance of a neutral third party. The parties do not reach a resolution unless all sides agree.
Explanation:
