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iragen [17]
3 years ago
11

If the price of Product E decreasing by 2% causes its quantity demanded to increase by 14% and the quantity demanded for Product

F to increase by 17%, what is the cross-price elasticity of demand? Round your answer to one decimal place. What is the relationship between these goods? A) no relationship
B) complements
C) substitutes
Business
1 answer:
Reika [66]3 years ago
5 0

Answer:

B) complements

Explanation:

The cross elasticity shows a relationship between the percentage change in quantity demanded with the percentage change in the price.

In case of the substitute goods, the relation between the price and the quantity demanded is positive that means if the price of goods increased than the quantity demanded is also increased

And, In case of the complementary goods, the relation between the price and the quantity demanded is  negative that means if the price of goods increased than the quantity demanded is decreased

According to the given situation, the most appropriate option is B.

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For which two main purposes do companies use social media?
Andrei [34K]

Corporations use social media for various purposes, but from the available options, the two ways they are most commonly used is for (B) advertise their services and check the market and (D) keep up with the latest industry news.

Advertising their services can lead to increased sales for corporations since people nowadays use their social media a lot. Keeping up with the latest industry news would also be helpful for corporations in using the right approach for advertising as well as creating product diversification that are suitable for the market they are aiming for.

7 0
3 years ago
The price of diamonds is high, in part because the majority of the world’s diamonds are controlled by a single firm. This is an
kirill115 [55]

Answer:

Option (b) is correct.

Explanation:

This is a case of monopoly market condition where there is a single firm operating the whole market. The price of the products is set by the single firm and the buyers in this market are price taker. The monopolist can earn normal profit, losses and abnormal profit in the short run and can earn normal profit and abnormal profit in the long run.

In our case, the price of diamonds is high because there is only single firm in the whole market and there is no other competitors in the market. That's why they are charging the higher prices.

5 0
3 years ago
Physical capital differs from raw materials in the sense that raw materials A. have a longer useful life in production B. are co
Komok [63]

Answer:

D. are used up in production

Explanation:

Raw materials can be seen as the "ingredients" required to produce a good and, thus, are consumable (used up in production). Physical capital refers to lasting goods that are assist the production process like buildings or machinery and are not consumable.

4 0
3 years ago
A manufacturer tests, modifies, and retests an original idea several times before offering it to the consumer. This process is c
taurus [48]

Answer:

Product development

Explanation:

A manufacturer tests, modifies, and retests an original idea several times before offering it to the consumer. This process is called product development.

A product life cycle can be defined as the stages or phases that a particular product passes through, from the period it was introduced into the market to the period when it is eventually removed from the market.

Generally, there are four (4) stages in the product-life cycle;

1. Introduction.

2. Growth.

3. Maturity.

4. Decline.

7 0
2 years ago
​India's Current Account. Use the following balance of payments data for India from the​ IMF: LOADING.... What is​ India's balan
s344n2d4d5 [400]

Answer:

  • 2004 ⇒ $2,640 million
  • 2009 ⇒ $12,540 million
  • 2014  ⇒  $18,655 million

Explanation:

2004 balance on services

= Services Credit, (exports) - Services Debit, (imports)

= 38,281 - 35,641

= $2,640 million

2009

= 92,889 - 80,349

= $12,540 million

2014

= 156,252 - 137,597

= $18,655 million

3 0
3 years ago
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