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
IgorLugansk [536]
3 years ago
5

At the current prices of goods X and Y, the quantity demanded of good X is 10 units, and the quantity demanded of good Y is 5 un

its. The cross-price elasticity of demand between goods X and Y is 0.6. A 10 percent increase in the price of good Y will result in _________.
Business
1 answer:
damaskus [11]3 years ago
8 0

Answer:

When the price of good y increases by 10% it will result in the quantity demanded of x to increase by (0.6*10) =6%. The current quantity demanded of good x is 10 so a 6% increase will mean the quantity demanded of x will be (1.06*10)= 10.6

Explanation:

The cross elasticity of goods x and y is 0.6, which means that a one percent increase in price of good y will increase the demand for good x by 0.6%, this means that x and y are substitute goods, as when the price of y increases people tend to buy more of x.

When the price of good y increases by 10% it will result in the quantity demanded of x to increase by (0.6*10) =6%. The current quantity demanded of good x is 10 so a 6% increase will mean the quantity demanded of x will be (1.06*10)= 10.6

You might be interested in
Rosseta Technologies, an information technology service provider to a company based out of Germany, allows its employees to work
kondaur [170]

Answer: A.) An enterprise search software

Explanation: Placing restrictions on the search or retrieval of confidential data or information may be enforced through the use of an enterprise search software. The enterprise search software enables the retrieval of information or data from databases and other enterprise-level sources while also ensuring that these informations or data are made available to a defined audience or population by following carefully defines rules and compliance procedures in other to ascertain security of organizational data and information.

5 0
3 years ago
The cost of overestimating demand is usually harder to determine than the cost of underestimating demand. Group of answer choice
forsale [732]

Answer:

The statement is: False.

Explanation:

In supply chain management, incremental analysis is in charge of determining the cost of ordering one more additional unit of a product over the cost of no requesting that additional unit. The cost of overstimulating demand is the loss of ordering one additional unit and discovering that it cannot be sold. The cost of underestimating demand is the opportunity loss for nor requesting one additional and discovering it could have been sold.

<em>The cost of underestimating demand is more difficult to determine than the cost of overestimating demand because underestimating demand because it involves customer's desires</em> on purchasing a product when not having the resources to do so.

8 0
3 years ago
Mary jo spends $2,180 to buy stock in two companies. she pays $23 a share to one of the companies and $20 a share to the other.
Dahasolnce [82]
20was 40times. 23was 60times
5 0
4 years ago
Which of the following changes can take place in the long run? A.labor force b.machinery c. Technology. D. All of these can be c
ehidna [41]
D. All of these can be changed in the long run
4 0
3 years ago
The opportunity cost of a choice is the _____ of the opportunities lost.a. Valueb. Interest
salantis [7]

Answer:

a. Value.

Explanation:

The opportunity cost of a choice is the value of the opportunities lost.

In Economics, Opportunity cost also known as the alternative forgone, can be defined as the value, profit or benefits given up by an individual or organization in order to choose or acquire something deemed significant at the time.

Simply stated, it is the cost of not enjoying the benefits, profits or value associated with the alternative forgone or best alternative choice available.

Hence, the opportunity cost of a choice  is the benefits that could be derived in from another choice using the same amount of resources.

<em>For instance, if you decide to invest resources such as money in a food business (restaurant), your opportunity cost would be the profits you could have earned if you had invest the same amount of resources in a salon business or any other business as the case may be.</em>

5 0
4 years ago
Other questions:
  • Lois wants to start an art gallery. However, because of lack of adequate funds, she decides to borrow money from a bank. The ban
    12·1 answer
  • Part 1 Household consumption, which accounts for about _______% of the economy, grew at a 4.2% annualized rate during the second
    10·1 answer
  • If the “exact” terms of the listing agreement are met, the listing broker is entitled to a commission, even if the:
    8·1 answer
  • Bachmann Products, Inc., has found that new products follow a learning curve. The first two units have been completed with the f
    7·1 answer
  • Percy is a rich boy whose parents supply him with every conceivable necessity of life. While still a minor, Percy buys a coat on
    5·2 answers
  • Ocean sediment cores provide a climate record for the past ________ years.
    12·2 answers
  • 31. People might withdraw money from interest-bearing accounts,
    10·1 answer
  • Gourmet Pets is interested in computing the break-even point for its new product Prime Cuts. The fixed costs of adding this prod
    14·2 answers
  • Jessica from the legal team needs to make a presentation on intellectual property rights. She is making this presentation for co
    14·1 answer
  • The Coca-Cola Company uses a job-order costing system. True or False: Job-order costing uses the actual direct materials cost of
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!