Answer:Cross Elasticity of Demand = 0.56
Explanation:
Cross Elasticity of Demand = Percentage change in quantity demanded/Percentage change in price .
Using the midpoint formulae
Percentage change in quantity of UPS=Q2 - Q1/ Q2+Q1/2
=1,300,000 - 1,200,000/(1,300,000 + 1,200,000)/2=0.1/1.25 =0.08
Percentage change in Price of FedEx = P2 -P1/ (P1+P2)/2
=75-65/(75+65)/2=10/70=0.1428
Cross Elasticity of Demand = Percentage change in quantity demanded/Percentage change in price .
=0.08/0.1428 = 0.56
Here the cross elasticity of demand is positive, which trells us that FedEx and UPS are substitute goods.
Answer: The answer would be C. Collective bargaining
Answer: The probability that fewer than 50% of the students surveyed will express support for paying student government officers is 8.501 × 10^-65
Explanation:
Since fifty two percent (52%) of the surveyed students support the idea of paying student government officers, it consequently means that 48% (100% - 52%) of students are against the idea or not in support of it.
To find the probability that less than or fewer than fifty percent (< 50%) of the 400 surveyed students are in support, we must obtain the actual number of students that represent 50% of the individuals surveyed.
= (50/100) × 400
= 200 students.
Therefore, we are to find the probability that less than 200 of the surveyed students are in support of the payment. This means that at least, 201 of the surveyed students are not in support of the payment.
Since, 48/100 generally represents the percentage of students that are not in support of the idea, then we multiply 48/100 by itself up to 201 times. The opinions of the other 199 surveyed students doesn't matter
= (48/100)^201
= 8.501 × 10^-65
Answer:
B.Jacob will recognize commission expense in the amount of $3,000 in August
Explanation:
Jacob will recognize commission expense in the amount of $3,000 in August for the 3 tractors that was sold and Jacob was the salesperson who pays Jason the amount of cash realized on the 10th day of the month following the sale of the tractors.
The Commission expenses can be calculated as:
(commission of $1,000× Number of tractor 3)
=$3,000
