Answer:
0.22 and substitutes goods
Explanation:
The computation of the cross-price elasticity of demand using mid point formula is shown below:
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)
where,
Change in quantity demanded is
= Q2 - Q1
= 180,603 - 194,108
= -13,505
And, the average of quantity demanded is
= (180,603 + 194,108) ÷ 2
= 187,356
Change in price is
= P2 - P1
= $2.43 - $3.36
= -$0.93
And, the average of price is
= ($2.43 + $3.36) ÷ 2
= 2.895
So, after solving this, the cross - price elasticity is 0.22
Since the cross - price elasticity is positive that reflect the goods are substitutes to each other
Answer:
FV= $7,435.74
Explanation:
Giving the following information:
Initial investment= $6,400
Interest rate= 1.5%
Number of periods= 10 years
<u>To calculate the value of the account in ten years, we need to use the following formula:</u>
FV= PV*e^(i*n)
FV= 6,400*e^(0.015*10)
FV= $7,435.74
Answer:
Corporations of the United States should be tracked by the U.S government to ensure that workers' rights in developing countries should not be compromised.
Explanation:
In many developing countries political leaders are afraid that if wage rates are enforced on big corporations they could be forced off global markets. Foreign investment capital is significant to the economy of developing countries and there is always fear that the loss of such investment may break the economies of these countries. The government of the U.S should ensure vigorous monitoring programs that require businesses to report the location of international factories publicly so that human rights organizations can track their actions independently.
Oligopoly is a market structure with a small number of firms, none of which can keep the others from having significant influence. A monopoly is one firm, a duopoly is two firms and an oligopoly is two or more firms.
