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8090 [49]
3 years ago
14

Suppose that when the price of good X falls from $10 to $8, the quantity demanded of good Y rises from 20 units to 25 units.

Business
1 answer:
aalyn [17]3 years ago
3 0

Answer:

the cross-price elasticity of demand is -1.0, and X and Y are complements

Explanation:

given data

price of good X falls = $10 to $8

quantity demanded of good Y rises = 20 units to 25 units

solution

we know that Cross Elasticity = [ (q2-q1) ÷ ( (q2+q1) ÷2) ] ÷ [ (p2-p1) ÷ ( (p2+p1) ÷ 2 ) ]     ........................1

here q1 is = 20 and p1 is 10 and q2 is 25 and p2 is 8

so put here value we get

Cross Elasticity  = \frac{\frac{25-20}{(2+20)/2} }{\frac{8-10}{(8+10)/2} }    

Cross Elasticity  =  -1  

so here Elasticity is negative

answer is  the cross-price elasticity of demand is -1.0, and X and Y are complements

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Licensed packaging, strategy is often employed by store brands.

For good reason, licensed properties are frequently used on packaging. Licensing may give brands publicity, access to new markets or areas, increased revenue, and more. However, there may also be modest to significant drawbacks.

Renée Whitworth, a strategic partner at the design firm Flood Creative in New York, spoke with BRANDPACKAGING about licensed  strategies to assist brands decide their best course of action (www.floodcreativeny.com).

In its 15 years of utilizing design as a tool for strategy, Flood has produced a fair amount of licensed packaging for businesses. Whitworth discusses the advantages and disadvantages of licensed packaging as well as smart ways to use it.

Hence, option E is correct.

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7 0
2 years ago
Which of the following is correct? Increased education adds to the stock of human capital, not unlike building factories adds to
kherson [118]

Answer:

a. Increased education adds to the stock of human capital,not unlike building factories adds to the stock of physical capital.

Explanation:

Of all the option only option A is correct that is Increased education adds to the stock of human capital,not unlike building factories adds to the stock of physical capital.

The statement means that educated humans are like human capital and increase in education increase human capital. Same like building factories adds to stock of physical capital.

8 0
3 years ago
The ____ handles certain cases involving credit card fraud and identity theft.
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The U.S. secret service or (USSS) handles certain cases involving credit card fraud and identity theft.
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5 0
4 years ago
Nina is in an interview for a sales job that requires no experience. She is trying to portray herself as a highly enthusiastic,
Paraphin [41]

Answer:

The answer is A

Explanation:

Let re-visit the definition of information asymmetry before we further investigate the scenario. Information asymmetry describes the situation when the two parties are negotiating and one of them have more relevant information/knowledge that helps he/she gains competitive advantages in negotiation over the other party.

In the described scenario, the information that Nina has been fired from her previous job mainly because of her fault rather than any other objective reasons  is of much importance for the interviewer's decision-making in term of hiring Nina. Did the interviewer know this piece of information, he/she may not hire Nina or the negotiating salary level would be pretty much lower.  

3 0
3 years ago
"Only one firm produces and sells soccer balls in the country of Wiknam, and as the story begins, international trade in soccer
sweet-ann [11.9K]

Answer:

Explanation:

a) since MR=MC, then 15-2Q=3+Q. So, the monopolist produce Q=4

price P=15-Q=10-4=6

profit=6*3-TC=18-(3+4+0.5*4^2)=3

b)since the P=6=6, domestic production will stay the same. The domestic consumption will stay the same. For Wilknam, it will import soccer balls.

c)yes, it holds that Wiknam will be an importer. Because the price for domestic production is 6 which is same as the world price 6.

d)Since the price within country is the same with price out of country, and also, MC=3+Q=7>6, Wiknam will import soccer balls. The monopolist market will become a competitive market.Even though the price won't change,the product will be of high quality and so on. The market will become more equilibrium.

7 0
3 years ago
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