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3 years ago

For each of the following pairs, predict whether the cross-price elasticity of demand will be positive or negative:

Business

1 answer:

Dmitry_Shevchenko [17]3 years ago

3 0

Answer:

a) Positive.

b) Positive.

c) Negative.

Explanation:

a. Soap and hand sanitizer.- Positive cross elasticity of demand.

b. CDs and MP3s.- Positive cross elasticity of demand.

c. Sheets and pillowcases.- Negative cross elasticity of demand.

Cross price elasticity of demand are used as tool to measure the demand of one product by the change in price of related product like subtitute or complimentry goods and service. It is calculated by using ratio or percentage change in quantity demanded by percentage change in price of a related goods.

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Entrepreneurs affect the economic decisions a country makes by:

xeze [42]

Answer:

D. identifying new ways for people to fulfill their wants and needs

Explanation:

Entrepreneurs start new businesses in society. They are quick to spot and identify needs and wants in the market. Entrepreneurs establish businesses to provide solutions to these needs and want at a profit.

Entrepreneurs use their creativity to come up with new and unique products that offer solutions to society's problems. They innovate better products and ways of offering services that are friendly and more cost-effective. Entrepreneurship goes hand-in-hand with creativity and innovation.

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2 years ago

In a production application involving a fixed setup cost and a variable cost, the use of __________ makes including the setup co

IRISSAK [1]

Answer:

The correct answer is binary variables.

Explanation:

A binary variable is one that can only have two possible values. They generally fulfill two essential characteristics:

1. They are made up of two exhausting values, which indicates that there is no other possibility of response. For example, a person is female or male.

2. Both values of the variable are exclusive, that is, it is not possible that both responses can be given, only one. In the same example above, a customer cannot be a woman and a man at the same time.

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3 years ago

1. An assembly line with 30 activities is to be balanced. The total amount of time to complete all 30 activities is 60 minutes.

trapecia [35]

Answer:

a. What are the maximum and minimum cycle times?

The maximum cycle time is 60 minutes and the minimum cycle time is 2.4 minutes.

b. How much daily output will be achieved by each of those cycle times?

Daily output = CT = A/R

For max CT = 480/60 = 8 units per day

For min CT = 480/2.4 = 200 units per day.

2. In problem 1, suppose the line is balanced using 14 workstations and a finished product can be produced every 4.5 minutes.

a. What is the production rate in units per day?

CT = A/R or 4.5 = 480/R or R = 106.66 units/day

b. What is the assembly-line efficiency?

Efficiency = 60/[4.5(14)] =0.95 or 95.2% percent efficiency.

5 0

3 years ago

Dave took an intelligence test and received an iq score of 62. he was classified as intellectually disabled. of the following, w

nydimaria [60]

In the given scenario, the best informed reaction in Dave's classification is that it would still be classified as invalid. It is because it still lacks evidence and in order to confirm the given result which had said that he is intellectually disabled, they should also assessed his skills of adapting. If his adaptive skills has been assessed, it will then only be considered if the results are correct or not.

5 0

3 years ago

Dan Weaver wants to set up a fund to pay for his daughter's education. In order to pay her expenses, he will need $20,000 in fou

Mrrafil [7]

Answer:

$63,913.50

Explanation:

We are to find the present value of the cash flows from year 4 to 7

Present value can be calculated using a financial calculator

Cash flow each year from year 1 to 3 = $0

Cash flow in year 4 = $20,000

Cash flow in year 5 = $21,100

Cash flow in year 6 = $22,900

Cash flow in year 7 = $24,300

I = 6%

Present value = $63,913.50

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

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3 years ago