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12345 [234]
3 years ago
8

Suppose that Michael’s Bowling Alley offers 50% off bowling on Mondays, and as a result, drink sales increase by 40%. What is th

e cross elasticity of demand between bowling and drinks?
Business
1 answer:
leonid [27]3 years ago
5 0

Answer:

-0.8

Explanation:

Cross elasticity of demand = % change in quantity demanded for the drink / % change in price of the bowling

cross elasticity = 40% / -50% = -0.8 since the price was reduced the change in price will be negative

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Abby, Bobbi, and Deborah each buy ice cream and paperback novels to enjoy on hot summer days. Ice cream costs $5 per gallon, and
umka2103 [35]

Answer:

b. The slope of the budget constraint is the same for each woman.

Explanation:

Budget Line is the combination of two goods that a consumer can buy, given prices & money income (all spent).

Equation : p1x1 + p2x2 = m ;

where p1 & p2 are price of good 1 & 2 , x1 & x2 are quantities of good 1 & good 2 , m = money income  

  • Abby's Budget Line : 5I + 8N = 80
  • Bobbi's Budget Line : 5I + 8N = 60
  • Deborah's Budget Line : 5I + 8N = 40 [ I = Icecream, N = Novel ]  

Slope of Budget Line represents change (sacrifise) of a good needed to get change (gain) of other good, given same prices & income.

Slope = ΔY/ΔX = Px / Py

Since prices are same for each woman, price ratios & hence the slope of budget line will also be same for all of them.

3 0
3 years ago
What is the main problem that sellers suffering from marketing myopia​ face?
Tanya [424]
The answer is "<span>They focus more on products than the​ customer's underlying need.".
</span>
Marketing Myopia is marketing term as it shows by its name, referred to short-sighted and inward looking way to deal with promoting that spotlights on the requirements of the organization as opposed to characterizing the organization and its items as far as the clients' needs. It brings about the inability to check and accommodates to the quick changes in their business sectors or markets.
8 0
3 years ago
Read 2 more answers
Single Corp. is a company with three divisions that produce completely different products. These three divisions must seek fundi
Lorico [155]

Answer:

pooled interdependence.

Explanation:

The single crop is a company with three different division. Three division who work independently and do not interact with each other but work towards the betterment of the whole company can be described as pooled interdependence. Pooled interdependence is a way in which companies operated by designing different department that works independently towards a common goal.

3 0
3 years ago
The control system at Western Mountains Health Associates ties executive salaries to nationally prevailing salary standards, and
soldier1979 [14.2K]

Answer: (D) Market control system

Explanation:

 The market control system is the process of managing all distribution of the products and the services in an organization. The main responsibility of the market control system is that it manages all the marketing department and also helps in rectifying the mistakes in the system.

There are basically four types of market control system are as follows:

  • Annual plan control
  • Effectiveness and the efficiency control system
  • Strategic control
  • Profitability control    

According to the given question, the Western mountain heath association is one of the control system that uses the concept of market control system for evaluating all the process in an organization such as transportation, pricing and the demand.

Therefore, Option (D) is correct.

7 0
3 years ago
Vehicles from which country use the international registration letters WG?
grigory [225]
Japan. maybe it is maybe no
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3 years ago
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