$16.35 is the new hourly wages. $15 increase by 9% is 16.35
Answer:
b. complement goods
Explanation:
Complement goods -
These are the type of goods , that are related to each other in a certain manner , is referred to as complement goods.
These type of good are also referred to as paired goods or associated goods .
In case of complement goods , if a person buys first good , then he might require the second good too.
These goods can even alters the prices of each other .
For example ,
people buying a CD player , need to buy the corresponding CD too , and hence ,
CD player and CD are complement goods.
Hence , from the given scenario of the question,
The correct option is b. complement goods .
A complementary good is a good whose use is related to the use of an associated or paired good. Two goods (A and B) are complementary if using more of good A requires the use of more of good B.
The answer is: D. it has a broad sample, including people who know nothing about the industry.
Any industry consist of three players. The producers, the consumers, and the regulators. Consumers are the one that made the most purchase for the industry and can influence it, but they tend to know nothing or very little with the industry, which is why such sample is needed.
Answer:
b. product A and B are subtitutes
a. the quantity of fast food consumed decreases as income increases
Explanation:
Cross price elasticity of demand measures the responsiveness of quantity demanded of good A to changes in price of good B.
Cross price elasticity = percentage change in quantity demanded of good A / percentage change in price of good B.
The cross price elasticity of substitute goods are always positive because if the price of good B increases, the Quanitity demanded of good A rises.
Substitute goods are goods that can be used in place of another good.
Complement goods are goods that are used together. E.g. car and gas
Inferior goods are goods whose demand increases when income falls and whose demand falls when income rises.
I hope my answer helps you