1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Margarita [4]
2 years ago
14

Suppose the cross-price elasticity of demand between goods X and Y is 4. How much would the price of good Y have to change in or

der to increase the consumption of good X by 20 percent?
Business
1 answer:
boyakko [2]2 years ago
3 0

Answer:

Increase by 5%.

Explanation:

Given that,

cross-price elasticity of demand between goods X and Y = 4

Percentage increase in consumption of good X = 20 %

cross-price elasticity of demand = Percentage change in quantity demanded for good X ÷ Percentage change in price of good Y

4 = 20 ÷ Percentage change in price of good Y

Percentage change in price of good Y = 20 ÷ 4

                                                                = 5%

Therefore, the price of good Y must be increase by 5% in order to increase the consumption of good X by 20 percent.

You might be interested in
Mrs. Patterson is a new enrollee in the HealthBest Medicare Advantage (MA-PD) plan. She is new to this type of coverage and asks
Serggg [28]

Answer:

She should expect either the pharmacy directory in hard copy or a distinct and separate notice (in hard copy) describing where she can find the pharmacy directory online and how to request a hard copy.

Explanation:

Additionally, I will also mention that The main difference between medicare advantage plan and Normal medicare is that normal medicare will include wide coverage provided by the government, but the quality of services provided for the medicare advantage plan will be better on average.

The pharmacy directory mentioned above can be used by Mrs. Patterson to choose the type of Specific health services that she wants, the type of specialists that she prefers and the location of treatment that is the most convenient to her. (this type of benefits wouldn't be found in normal plan)

5 0
2 years ago
because research is blank______, it is important to figure out beforehand exactly what problem needs to be solved.
KonstantinChe [14]

Expensive and time consuming, it is important to figure out beforehand exactly what problem needs to be solved.

Research expense must be budgeted before it is incurred so that the cost is available to be borne by the company.

<h3>What is research?</h3>

Research is expense carried by the company to develop a new product if the research meet the criteria it is capitalize as intangible and it will be amortize over its useful life once the development is available for use otherwise it will expense out in profit and loss statement.

#SPJ12

Learn more about research brainly.com/question/27899054

7 0
2 years ago
In the​ video, Walmart's creation of small retail stores that offer the convenience customers​ can't find in​ Walmart's larger s
Tresset [83]

Answer: THREAT OF SUBSTITUTE PRODUCTS.

Explanation:Porter's model was developed by a Harvard business school Lecturer known as Michael E. Porter in 1979. Michael E. Porter developed a Five Forces model that identifies and analyzes five competitive forces that shape every industry, and determines an industry's weaknesses and strengths.

The five competitive forces are as follows;

COMPETITIVE RIVALRY which determines the strength and number of your competitors.

SUPPLIER POWER which determines the uniqueness of the supplies given to you by your suppliers and the number of suppliers you have etc.

BUYER POWER which evaluates how many buyers you have,how easy it is for them to buy your products etc.

THREAT OF SUBSTITUTION which evaluates how easy it is for your buyers to buy another substitutes to your product etc.

THREAT OF NEW ENTRY which evaluates the ability or easy access of new products to penetrate the market,how well you are to maintain your strength etc.

4 0
3 years ago
Suppose the government imposes a $10 per month tax on cell phone service. If the demand curve for cell phone service is perfectl
34kurt

ctugalsvyhiewfvgbiubvrrebf ndhjbbvfhjbjkrebjerv rejrbvujrbrefjrbjuv rv;rvbnrjrvbvrf rntrntrbrhtbfvjbsjbfg jtbrgnnjnbjobgfrm,rtb bg btrjtrbtnotrnobtrnjklv mfbgvnb fjfv trbu rt u  rtsubrtsvjrt btv rt rt t rt trnm fgrbk gbf nrftbv kngtrb nkgbtr rgbtsbkjtbgr mtb

6 0
2 years ago
How do margin trades magnify both the upside potential and the downside risk of an investment position?
klio [65]

Answer and Explanation:

Margin trades work this way because they allow them to extend the amount of money invested regardless of whether the security's price drops or rises. In a more simplified way, we can state that the margin trade allows that even if the price of a security goes up or down, the invested money presents a percentage of gain or loss much bigger than the original value. This is because this money was deposited as a loan guarantee, allowing interest to run on it, increasing it.

4 0
2 years ago
Other questions:
  • Bond Company uses a plantwide overhead rate with direct labor hours as the allocation base. Use the following information to sol
    15·1 answer
  • The archeological records of egyptian cities are less detailed due to the
    13·1 answer
  • What are five basic principles found in a free enterprise system?
    6·1 answer
  • Sweet Company borrowed $34,800 on November 1, 2020, by signing a $34,800, 9%, 3-month note. Prepare Sweet’s November 1, 2020, en
    11·1 answer
  • Shelby's new job with the federal government provides a comfortable income and a fairly stable income. she would like to buy a n
    6·1 answer
  • Suppose Lisa's utility function is 4XY, where X is the consumption of beer and Y is consumption of pizza. For this utility funct
    13·1 answer
  • Edgar is preparing to deliver an informative speech on studying abroad in Spain. After researching the topic, he settled on four
    9·2 answers
  • There is an inverse relationship between bonds' quality ratings and their required rates of return. Thus, the required return is
    15·1 answer
  • You are buying a car, and have settled on a price of $22,678.95. You put $2,678.95 down and borrow the rest at an 8.5% APR, comp
    6·1 answer
  • During the taking of its physical inventory on December 31, Barry's Bike Shop incorrectly counted its inventory as $222,138.00 i
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!