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
stira [4]
3 years ago
15

When​ Judy's income increased from ​$200 to ​$240 a​ week, she increased her demand for concert tickets by 20 percent and decrea

sed her demand for bus rides by 20 percent. Calculate​ Judy's income elasticity of demand for concert tickets and bus rides.
Business
1 answer:
aleksley [76]3 years ago
4 0

Answer:

The answer is YED for concert tickets =  20%/ 20% = 1

YED for bus rides = -20% / 20%  = -1

Explanation:

income elasticity of demand (YED) = % change in Quantity demanded / % change in income

% change in income= (240-200) / 200  * 100= 20%

YED for concert tickets =  20%/ 20% = 1

YED for bus rides = -20% / 20%  = -1

The income elasticity of demand for concert tickets and bus rides is  unitary which means the rise in income is proportionate to the increase in the quantity demanded.

You might be interested in
Refer to the following selected financial information from Marston Company. Compute the company's accounts receivable turnover f
Artyom0805 [142]

Answer:

The correct option is E

Explanation:

The formula to compute the accounts receivable turnover of the company for the Year 2 is as:

Accounts Receivable Turnover = Net Credit Sales / Average Accounts Receivable

where

Net Credit Sales be $723,000

And

Average Accounts Receivable is computed as:

Average Accounts Receivable = Accounts receivable Year 1 + Accounts receivable Year 2 / 2

= $86,500 + $82,750 / 2

= $169,250 / 2

= $84,625

Putting the values in the above formula:

= $723,000 / $84,625

= 8.54

5 0
3 years ago
Identify which of the following would generate an increase in the market demand for tablet devices, which are a normal good.
seraphim [82]

Answer:

The correct answer is letter "D": An increase in the number of consumers in the market for tablet devices.

Explanation:

Several factors can make the quantity demanded of a product increase. Mainly, <em>when the price of that good or service decreases the quantity demanded increases</em> (demand theory). However, there are some other factors such as the increase of the same product consumers in the market, who will directly ask for the good or service.

6 0
2 years ago
Customers who owned Nintendo’s 8-bit video game console were unable to play the same games on the firm’s new 16-bit Super Ninten
Gala2k [10]

Answer:

I would choose B. But im not 100% sure.

Explanation:

5 0
3 years ago
Read 2 more answers
What statement below best defines "exporting pollution"? When a country decreases its exports, resulting in a lower level of dom
tamaranim1 [39]

Answer:

"Exporting pollution" occurs when a country reduces its domestic pollution, but increases imports that cause pollution in other countries.

Explanation:

Exporting pollution is a commercial and environmental process through which the most developed countries send their most polluting companies to produce their goods to underdeveloped countries. These companies, generally industrial, transfer their production of carbon dioxide and other polluting gases to these countries, which receive large employers and economic benefits but in turn accept higher rates of contamination in their territories.

4 0
3 years ago
For an individual who is participating in a 45-minute walk, how essential is this beverage?
NNADVOKAT [17]
In any kind of exercises, may it be a 45-minute walk or running or swimming, beverages such as water is essential. A person must drink water before, during, and after exercises. This is because a person needs to maintain his hydration while exercising for it regulates body temperature and helps lubricate the joints. Also, it contains nutrients which keep you healthy.
6 0
3 years ago
Read 2 more answers
Other questions:
  • Skyline Corp. will invest $130,000 in a project that will not begin to produce returns until the end of the 3rd year. From the e
    15·1 answer
  • Miller Mining acquired rights to a tract of land with the intent of extracting from the land a valuable mineral. The cost of the
    10·1 answer
  • School band members need to raise money for new uniforms. Some members want to sell energy drinks at a football game, but others
    6·2 answers
  • Please Help! My teacher is very vague on his website that I normally use for the answers on his worksheets.
    15·1 answer
  • The EFT Act protects consumers by
    8·2 answers
  • Which selection below is not a leadership style
    6·1 answer
  • A process has low fixed costs and high variable costs. It is currently capacity-constrained. Will the impact of an efficiency im
    6·1 answer
  • To create a successful advertising campaign on facebook, a good strategy a brand manager can use is to
    5·1 answer
  • An increase in the current account deficit will place _______ pressure on the home currency value, other things equal.
    9·1 answer
  • Meg invested $16,000 in a savings account. if the annual interest rate is 6%, how much will be in the account in 5 years for qua
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!