The number 18 is which percent of 15?

Instructions: Enter your responses as percentages. Include a minus (-) sign for all negative answers. a. The price of good X dec

zalisa [80]

Answer:

COMPLETE QUESTION:

Suppose the own price elasticity of demand for good X is -3, its income elasticity is 1, its advertising elasticity is 2, and the cross-price elasticity of demand between it and good Y is -4. Determine how much the consumption of this good will change if: Instructions: Enter your answers as percentages. Include a minus (-) sign for all negative answers.

a. The price of good X decreases by 5 percent.

b. The price of good Y increases by 8 percent.

c. Advertising decreases by 4 percent.

d. Income increases by 4 percent.

ANSWER

a) The quantity demanded of good X will change by 15 percent

b) The demand for X will change by -32 percent.

c) The demand for good X will change by -8 percent

d) The demand of good X will change by 4 percent

Step-by-step explanation:

Price elasticity of demand measures how responsive quantity demanded is to a change in the price of a commodity.

price elasticity = $\frac{\frac{dQ}{Q} }{\frac{dP}{P} }$ .

Note: Same applies to income,advertising and cross-price elasticity.

where, P is the price of the demanded good and Q is the quantity of the demanded good and dQ and dP are the changes in quantities of demanded goods and prices respectively.

a) Quantity demanded on goods X due to decrease by 5 percent in price is ;

-3 = $\frac{\frac{dQ}{Q} }{-5}$ , therefore percentage increase in quantity of goods demanded is (-3 x -5) = 15 percent

b) Cross- Price Elasticity; Quantity demanded on goods X due to increase by 8 percent in price in goods Y is;

-4 = $\frac{\frac{dQ}{Q} }{8}$ , therefore percentage decrease in quantity of goods demanded is (-4 x 8) = -32 percent

c) Advertising Elasticity ; Quantity demanded on goods X due to decrease by 4 percent in advertising is;

2 = $\frac{\frac{dQ}{Q} }{-4}$ , therefore percentage decrease in quantity of goods demanded is (2 x -4) = -8 percent

d) Income Elasticity ; Quantity demanded on goods X due to increase by 4 percent in income is;

1 = $\frac{\frac{dQ}{Q} }{4}$ , therefore percentage increase in quantity of goods demanded is (1 x 4) = 4 percent

3 0

3 years ago

a fruit Shop sells dried fruit by the pound the cost for X pounds of raisins is represented by the equation y= 3.5x, where y is

otez555 [7]

y=4.5x the equation for cranberries

Step-by-step explanation:

So the easiest way to solve this would be take the $18 and divide it by the 4 pounds you then get the unit price per pound which is $4.5 a pound

4 0

3 years ago

A right cylinder has a radius of r inches and height of 2r inches.

lys-0071 [83]

Answer:

Part a) The lateral area is $4r^{2} \pi \ in^{2}$

Part b) The area of the two bases together is $2r^{2} \pi\ in^{2}$

Part c) The surface area is $6r^{2} \pi\ in^{2}$

Step-by-step explanation:

we know that

The surface area of a right cylinder is equal to

$SA=LA+2B$

where

LA is the lateral area

B is the area of the base of cylinder

we have

$r=r\ in$

$h=2r\ in$

Part a) Find the lateral area

The lateral area is equal to

$LA=2\pi rh$

substitute the values

$LA=2\pi r(2r)$

$LA=4r^{2} \pi\ in^{2}$

Part b) Find the area of the two bases together

The area of the base B is equal to

$B=r^{2} \pi\ in^{2}$

so

the area of the two bases together is

$2B=2r^{2} \pi\ in^{2}$

Part c) Find the surface area of the cylinder

$SA=LA+2B$

we have

$LA=4r^{2} \pi\ in^{2}$

$2B=2r^{2} \pi\ in^{2}$

substitute

$SA=4r^{2} \pi+2r^{2} \pi=6r^{2} \pi\ in^{2}$

4 0

3 years ago

Read 2 more answers

Select the correct aswer.

Alex73 [517]

I think it is c but if smn has a different answer do with that instead

4 0

3 years ago

Suppose the probability of an IRS audit is 3.8 percent for U.S. taxpayers who file form 1040 and who earned $100,000 or more. Wh

Elis [28]

It’s umm 35 or a think u round it I got it right

4 0

3 years ago