Cross-elasticity of demand is a) the willingness to substitute other products.
If the goods are alternative products, the cross elasticity of demand is tremendous which means that demand for one product will increase when the charge of the alternative product will increase and vice versa
If the products are complementary, go elasticity of demand is terrible which means that once the fee of 1 product will increase, demand for the opposite product decreases and vice versa.
The go-rate elasticity formulation is an equation for calculating the pass-price elasticity of call for (XED) of separate services or products: go rate elasticity (XED) = (% change in call for of product A) / (% alternate of fee of product B), wherein merchandise A and B are exceptional services.
In economics, the pass elasticity of call for or go-price elasticity of demand measures the percentage change of the quantity demanded an awesome to the percentage change in the fee of another proper, ceteris paribus.
The cross elasticity of call for is an economic concept that measures the responsiveness in the amount demanded of one good while the fee for some other correct modifications.
Learn more about Cross-elasticity here brainly.com/question/22985521
#SPJ4
It doesn't take that long to be honest, I got mine in a week
Answer:
related diversification
Explanation:
Since disney has generated the various merchandise that is connected to each other it could be range from clothing to electronics to household times
Here it would represent the related diversification as the products are diversified either introduce a new product or change in the old products
So this growth strategy would be considered in the given case
Mark's initial revenue was $450 (150lb)($3) and his new revenue was $500 (100lb)($5). Since Mark's revenue increased when the price if apples rose, the demand for Mark's gourmet applies must be inelastic. Elastic, because even though there was a change in price, the change in price wasn't substantial.
Construction contracts often include a provision awarding damages to the buyer at "X" amount of dollars per day for each day the builder is late in completing the work. The parties to the contract agree on this amount in advance because they know the buyer will incur added costs, or will lose profits, because of the delay. If the amount fixed for the damages is unreasonably high, the court will consider it a <u>Penalty</u> and will not enforce it.
Explanation:
<u>"Construction Contract" can be defined as a combination of various individual documents which focuses on the different aspect of the project, or it can also be a multi-page document which contains various sections that offers details on different aspects of the agreement.</u>
<u />
A construction contract includes
- Name of contractor and contact information.
- Name of homeowner and contact information.
- It describes property in legal terms.
- The various list of attachments of the contract.
- The cost involved
- Description of the work and its completion date.
- Right to stop the project.
