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
wlad13 [49]
3 years ago
5

Lauren\'s salary decreases from $37,000 to $30,000. she decides to reduce the number of outfits she purchases each year from 20

to 19. calculate her income elasticity of demand for new outfits.
Business
2 answers:
Tom [10]3 years ago
8 0

Answer:

Her income elasticity of demand for new outfits is 0.266.

Explanation:

The elasticity of demand is the percentage of change in the demand divided by the percentage change in income.

Percentage change in demand

The demand changes from 20 to 19. 19/20 = 0.95, so 19 is 95% of 20. There is a 1-0.95 = 0.05 = 5% change in demand.

Percentage change in income

Lauren's income decreases from 37000 to 30000. 30/37 = 0.811. There is a 1-0.811 = 0.189 = 18.9% change in demand.

So her income elasticity of demand for new outfits is:

IE = \frac{0.05}{0.189} = 0.2646

Her income elasticity of demand for new outfits is 0.266.

ella [17]3 years ago
4 0

Income elasticity of demand= 1/7000*100%=0.01

You might be interested in
Delta Construction Corporation, a general contractor, hires Eagle Electrical Company, a subcontractor, to wire a new office buil
nignag [31]

Answer: excused by Delta's failure to pay.

Explanation:

Delta Construction Corporation hires Eagle Electrical Company, as a subcontractor, to wire its new office building. After the completion of the work, Eagles is owed more than $50000.

Eagle's suspension of work is most likely due to the excuse by Delta's failure to pay. Delta has a right to pay up the money owed to Eagle. Lack of payment can lead to court cases.

3 0
3 years ago
The employees of an organization have heard rumors about rapidly dropping profits and impending layoffs. The grapevine is abuzz
Karolina [17]

Answer:

A. neutralize the rumor by openly confirming any parts that may be true.

Explanation:

Here are the options to this question:

A. neutralize the rumor by openly confirming any parts that may be true.

B. restrict the length of breaks taken by the employees.

C. closely monitor each employee's activities in the office.

D. fire employees found spreading false stories.

E. block all forms of electronic communication in the office.

I hope my answer helps you

3 0
3 years ago
Clara and Nathan have planned to merge their companies. They have met to put forth their respective proposals and the rationale
nikitadnepr [17]

Answer:

The correct answer is the option C: Clarification and justification.

Explanation:

To begin with, in the stage of <em>clarification and justification</em> of the negotiation process the parties do not need to be argumentative but instead they need to be educative to each other by showing the other what are the reasonable statements that are established in order to proove their positions on each argument done before. That is why, in this stage the positions of each party are discussed at length in order to comprehend what every party is supporting for and that is why this stage is called of ''justification''.

5 0
3 years ago
Southwestern Bank offers to lend you $50,000 at a nominal rate of 6.9%, compounded monthly. The loan (principal plus interest) m
san4es73 [151]

Answer:

0.98%

Explanation:

Note: Options provided is slightly different for this question

EAR = (1+APR/m)^m - 1  

EAR = (1+0.069/12)^12 - 1

EAR = (1.00575)^12 - 1

EAR = 1.07122449517 - 1

EAR = 7.12%

Hence, higher EAR  charged by Woodburn versus the rate charged by Southwestern = (8.1% - 7.12%) = 0.98%

5 0
3 years ago
Suppose Becky has her choice of $10,000 at the end of each month for life or a single prize of $1.5 million. She is 35 years old
yaroslaw [1]

Answer:

The answer is $3,456,000.

Explanation:

Annuity is a set amount of money that is paid every year for the person's life. She is 35 years old and expected to live to 75. So for $10,000 at the end of each month, the annuity is, 40 x 12 = 480 months, 480 months  x $10,000 = $4,800,000. If we take the $10,000 as the principal amount, and calculate the interest at 7,2% monthly, in 40 years it would be $3,456,000.

I hope this answer helps.

3 0
3 years ago
Other questions:
  • Meng Co. maintains a $300 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represe
    13·1 answer
  • Jill earns a salary of $425.00 per week, plus a commission of 20% on all sales. Last week she sold $1,123 worth of goods. How mu
    13·2 answers
  • An investor has a $5,000 pretax return, The state tax rate is 4.5%, and the federal tax rate is 22.0%, what is the real investme
    5·1 answer
  • Nicolette Garrison works part-time at an independent record store. Whenever her friend, Jacob Barker, comes into the store durin
    7·1 answer
  • Janet needs to assign a very important advertising account to one of her writers. First she reviewed each​ writer's work​ load,
    6·1 answer
  • From President Abraham Lincoln's perspective, the decision to wage a civil war against the southern states is best summarized in
    7·1 answer
  • _____________________ argues that the productivity of workers will increase if they are paid more, and so employers will often f
    9·1 answer
  • The SBA is a source of assistance that provides small businesses with the following
    11·1 answer
  • If the labor force averaged 237 million in 2008–2011, by how much in percentage terms did the state and local layoffs described
    6·1 answer
  • Jazz Corporation receives management consulting services from its 90 percent owned subsidiary, Laker Inc. During 20X7, Jazz paid
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!