1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Scorpion4ik [409]
3 years ago
12

If when the price of product e decreases by 2%, this causes its quantity demanded to increase by 14% and the quantity demanded f

or product f to increase by 17%, what is the cross-price elasticity of demand?
Business
1 answer:
hodyreva [135]3 years ago
3 0
Cross elasticity of demand measures the responsiveness in the quantity demand of one good when a change in price takes place in another commodity or good. It is calculated by dividing the percentage change in the quantity demanded of one good by the percentage change in price of other good.
Therefore, in this case, cross elasticity of demand will be;
   17%/-2% = - 8.5   (-2% because its a decrease)
Thus , the elasticity will be -8.5
You might be interested in
A job specification is: a. a group of related activities and duties. b. a statement of the knowledge, skills, and abilities requ
PSYCHO15rus [73]

Answer:

a statement of the knowledge, skills, and abilities required of a person to perform a job.

Explanation:

A job specification is a written statement that describes btge educational qualifications, experience, technical skills, and communication skills required to perform a job. Also responsibilities that are required on a job are stated.

A job specification is different from a job description which is a set of different duties and responsibilities performed by one employee.

7 0
3 years ago
Why do people feel more compelled to work with a leader who demonstrates responsibility
Flura [38]

Answer:

why do people feel more compelled to work with a leader who demonstrates responsibility?

People feel more compelled to work with a leader who demonstrate responsibility because such leader leads by example as a matter of fact most people are always ready to work without being forced to as a result of act of willingness displayed by such leader

Explanation:

3 0
3 years ago
Aaron promises to sell his boat to Matt, and Matt promises to buy it from Aaron. What type of contract is this? Group of answer
Minchanka [31]

Answer: c. A bilateral contract

Explanation:

In a bilateral contract, the parties involved promise to both perform duties to the other which will make them both an obligor and an obligee.

An obligor is one who owes a duty to another and the obligee is one who a duty is owed to.

Aaron both owes a duty to sell the boat to Matt as well as being owed by Matt the duty to buy his boat. The same goes for Matt thus making this a bilateral contract.

5 0
3 years ago
The amount of a real estate broker's commission is
zvonat [6]

In India, the majority of properties are sold with the help of a real estate broker or agent. When the broker helps a seller and buyer get in touch with each other and both the parties agree to engage in the transaction, then both the parties are required to pay a certain %age of the property value as a fee to the real estate broker. Read below to know about the real estate broker commission rates India:

There are no specific guidelines laid for the commission paid to real estate brokers. In India, real estate agents usually ask the seller and the buyer to pay 1-2% of the deal value as their commission, also known as the real estate brokerage fee.

8 0
2 years ago
Sean is initially unsure about which laundry detergent brand to buy: Stainz-Out or Ocean Fresh. Thanks to advertising, he has le
svlad2 [7]

Answer:

Positive effect advertisement

Explanation:

Base on the scenario been described in the question, the effect of the Ocean fresh because of the positive effect advertisement. This so because he discovered that ocean fresh is more cheaper and has almost the same price with that of stainz-out.

We can define positive advertisement as some kind of marketing strategies which show the target population all the positive effects which one can receive due to any particular product or service

4 0
3 years ago
Other questions:
  • Receive cash from customers, $16,400. Pay cash for employee salaries, $10,400. Pay cash for rent, $4,400. Receive cash from sale
    9·1 answer
  • Select the items that describe what is most likely to happen when the Federal Reserve decreases the money supply.
    9·1 answer
  • Identify the following transactions that they are whihc type of market.
    14·1 answer
  • If Jordan drives an average of 11,234 miles a year, how many miles will she have on her car in seven years?
    12·2 answers
  • When Eurasia restaurant, serving Eurasian cuisine, first opened along Chicago’s Michigan Avenue, its novelty brought many diners
    15·1 answer
  • The four-factor model used to construct performance benchmarks for mutual funds uses the three Fama and French factors and one a
    8·1 answer
  • Why should you avoid the use of sarcasm , cliches, and idioms in business letters?
    11·1 answer
  • When marginal cost is greater than marginal benefit at the current activity level, the decision maker can increase net benefit b
    7·1 answer
  • What are the two steps a producer can take to gain an absolute advantage? produce more goods. use high-quality resources. produc
    14·1 answer
  • Within her company, nadine utilizes a management style that varies according to the individual and environmental situation, with
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!