Sales tax is calculated as a percentage of the sales price. If sales tax is 7%, what is the sales tax on clothing that costs $15
1 answer:
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Answer:
eY is positive +0.1 therefore bagels are a normal good.
Step-by-step explanation:
Given data:
when, 10% rise in cheese price, 3% fall in bagels quantity observed
when, 10% rise in income, 1% fall in bagels quantity observed
from formula for cross price elasticity of demand, determine
As, eAB is negative, bagels $ cream cheese are complements.
By formula for income elasticity of demand,
we find that
Since eYis positive, bagels are a normal good.
Answer:
The answer is,
Step-by-step explanation:
Firstly, you have to get rid of fraction by multiplying (r-3) to both side and expand out:
t × (r-3) = r/(r-3) × (r-3)
rt - 3t = r
Then you have to move all the "r" variables to one side and other variables to the other side:
rt - r = 3t
You can make "r" as a subject by taking out the common term, you can see that the common term on the left is "r" so you can bring out:
r(t-1) = 3t
r = 3t/(t-1)