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suter [353]
3 years ago
15

What is the area of a square when the side length is 2/3cm

Mathematics
1 answer:
Leviafan [203]3 years ago
7 0

\bf \textit{area of a square}\\\\ A=s^2~~ \begin{cases} s=length~of\\ \qquad a~side\\[-0.5em] \hrulefill\\ s=\frac{2}{3} \end{cases}\implies A=\left( \cfrac{2}{3} \right)^2\implies A=\cfrac{2^2}{3^2}\implies A=\cfrac{4}{9}

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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.

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

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

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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

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