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Sergeu [11.5K]
3 years ago
10

A firm knows that Seneca's income elasticity of demand for hair ties is 5; for Janelle, it is 0.2. A firm can reason thatla hair

tie is a(n) _ _good for Seneca while it is a(n)_good for Janelle. A. inferior; normal B. complement; substitute C. necessity; luxury D. normal; inferior E. luxury; necessity
Business
1 answer:
Lilit [14]3 years ago
3 0

Answer: E. luxury; necessity

Explanation:

Income elasticity of demand is a measure of how the demand for a good or service change when people's income changes. It the ratio of the percentage change in quantity demanded to the percentage change in income.

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the nominal interest rate is 7 percent and the expected inflation rate is 4 percent. the real interest rate is
Hoochie [10]

Answer:

2.88%

Explanation:

According to the fisher equation :

(1 + Nominal interest ) = (1 + real interest) (1 + inflation rate)

(1.07) = (1.04) x (1 + real interest)

(1.07) / (1.04) = (1 + real interest)

1.028846

real interest rate = 2.88%

6 0
3 years ago
Elliott has the following capital gain and loss transactions for 2021. a. Short-term capital gain $1,500 b. Short-term capital l
vazorg [7]

The net short term capital loss for Elliott for 2021 will be $(2100); and the net long term capital gain will be $9,300.

<h3>What is capital gain?</h3>

The gain or positive returns made on the investment or engagement of money during a particular period is known as a capital gain. A short term capital gain is derived within 1 year; and long term is more than a year.

Hence, the capital gains and losses made by Elliott are aforementioned.

Learn more about capital gain here:

brainly.com/question/24084696

#SPJ1

4 0
2 years ago
Marcus paid $35 to buy a potato cannon, a cylinder that shoots potatoes hundreds of feet. He was willing to pay $45. When Marcus
julsineya [31]

Answer:

The question is incomplete; Determine the consumer surplus from the original purchase and the additional surplus generated by the resale of the cannon.

Marcus' consumer surplus=  $45-$35= $10

Starling's consumer surplus= $80-60= $20

Marcus'  producer surplus = $60-35 = $25

Explanation:

5 0
3 years ago
You want to be a millionaire when you retire in 35 years. a. How much do you have to save each month if you can earn an annual r
expeople1 [14]

Answer:

Monthly deposit= $164.24

Explanation:

Giving the following information:

Future value= $1,000,000

Interest rate= 0.118/12= 0.00983

Number of periods= 35*12= 420 months

<u>To calculate the monthly deposit, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (1,000,000*0.00983) / [(1.00983^420) - 1]

A= $164.24

7 0
2 years ago
What reasons would you give for the reaction of consumers to price changes​
zloy xaker [14]

Answer:

At first, the consumer might think that the watch might be more exclusive than before. Or consumer also might think that the company is so greedy to get more profits. Similarly, if the company cutting off price may have the negative impact on the consumer mind.

Uh yes my answer

Explanation:

7 0
2 years ago
Read 2 more answers
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