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KiRa [710]
3 years ago
7

The owner of Christie’ Bookstore is looking into the sales of its Health & Fitness magazine section. She finds that her equi

librium is at 1000 magazines per month sold at an average price of $4.25 per magazine. When the average price of these Health & Fitness magazines rose to $4.95 each, the quantity demanded fell to 900 magazines per month, while the quantity supplied to her increased to 1250 a month.
a. Draw an appropriate diagram for Christie’s original Health & Fitness magazine market.
b. Calculate the price elasticity of demand for the Health & Fitness magazines between prices $4.25 and $4.95. Is it elastic or inelastic? How do you know?
c. Calculate the price elasticity of supply for the Health & Fitness magazines between prices $4.25 and $4.95. Is it elastic or inelastic? How do you know based on your answer?
d. Explain what factors would affect the elasticity of demand for Health &Fitness magazines.
e. Christie also notices that when the average price of the Health & Fitness magazines rose from $4.25 to $4.95, the quantity of nutritious snack bars sold at the checkout register fell by 12%. Calculate the cross elasticity of demand between the two goods. Based on your answer, are they substitutes or complements?
Business
1 answer:
marusya05 [52]3 years ago
8 0
I believe if I remember correctly it was c
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3 years ago
Question 18 :Project managers must balance three elements that compose the project triangle. You are a project manager who is ha
denpristay [2]

Answer: The project scope will increase

Explanation:

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This will most likely increase the project scope. The project scope simply means the work that is needed to be done in order for a particular project to be accomplished. Due to the increase in funds, it means that more work will be expected.

4 0
3 years ago
An effective 12.68% per year, compounded monthly is the closest to:
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Answer:

a. 12% per year

Explanation:

Effective interest rate

r = (1 + i/n)^n - 1

r = effective interest rate

i = simple interest rate compounded monthly

n =  number of compound intervals

12.68% = ((1+i/12)^12)-1)

1+0.1268 = ((1+i/12)^12)

1.1268^(1/12) =1+i/12

1.010 = 1+i/12

1.010-1 = i/12

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8 0
3 years ago
Stagflation exists when prices:
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Answer:

The correct answer is (B)

Explanation:

Stagflation is a mixture of fusty monetary development, high unemployment, and high inflation. It's an unnatural circumstance since swelling should happen in a weak economy. In a typical market economy, slow development stops development. Accordingly, customer demand drops enough to prevent costs from rising. Stagflation is dangerous for economic growth and it leads a country towards depression.

5 0
3 years ago
LO 3.2A company sells its products for $80 per unit and has per-unit variable costs of $30. What is the contribution margin per
slavikrds [6]

Answer:

$50

Explanation:

The contribution margin per unit of any company's product  can be calculated using the following formula:

Contribution margin per unit=Sale price per unit- Variable cost per unit

In this question

Sale price per unit=$80

Variable cost per unit=$30

Contribution margin per unit=80-30

                                            =$50

8 0
4 years ago
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