Answer:1.0 and X and Y are substitutes.
Explanation:
Elasticity is the degree of responsiveness of the change in price to a change in quantity demanded. Cross elasticity considers 2 products.
Old price $10
New price $8
Old quantity 20 units
New quantity 25 units
Formula: (change in quantity demandedY/change in priceX) * (old priceX/old quantityY)
{ (25-20) / ($10-$8) } * (10/20) = 1.25
Decision Rule:
> 0 the 2 products are substitutes
< 0 the 2 products are complements
= 0 the 2 products are independent
From the calculation, the products are substitutes because its Elasticity is greater than 0.
Answer:
Third party beneficiary.
Explanation:
This is easily seen in contracts as it is said that a third party beneficiary is a person that benefits from an agreement between two persons or a contract between two persons. This is despite the fact that this said person has no effect or was not in any way a part of the said contract.
A third party beneficiary can be denied the rights to compensation of the contract, especially when contract is not fulfilled.
Rights which makes the third party beneficiary valid and concretely a part of the contact are been attached and solidified if the said contract comes through.
Answer: Less than one year, guaranteed returns
, and a money market product
What I put for my answer think its right
Explanation:
Answer:
Letter d is correct. A waiver of breach
Explanation:
In this situation Sadie filed a waiver of the violation. This occurs when the contractor waives his legal rights in respect of any breach of contract. As was the case with Sean, a contract to replace Sadie's carpeting, which consequently damaged some of its walls, resulting in poor contract performance.
