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
GrogVix [38]
3 years ago
10

The quantity demanded of Good A has recently increased by 2% in response to an increase in income. By how much must income have

increased (as a percentage) for the income elasticity of demand to equal 0.2?
Business
1 answer:
Shalnov [3]3 years ago
4 0

Answer:

Income must have increased by 10%

Explanation:

To find the answer, we use the Income Elasticity of Demand (IED) formula:

IED = Change in quantity demanded / change in income

Now, we plug the amounts into the formula and solve:

0.2 = 0.02 / X

0.2 *X = (0.02 / X ) * X

0.2X = 0.02

0.2X*100 = 0.02*100

20X = 2

20X/20 = 2/20

X = 1/10

X = 0.1

X = 10%

You might be interested in
3 investment theories
lara31 [8.8K]
 1. The Accelerator Theory of Investment 2. The Internal Funds Theory of Investment 3. The Neoclassical Theory of Investment. 


those are the answers you are looking for
3 0
3 years ago
Read 2 more answers
PLSS HELP -->> societies make decisions about who gets the goods they produce by:
ipn [44]

Answer: C

Explanation: it’s c

5 0
3 years ago
The Magnuson-Moss ______ Act directs manufacturers and sellers to detail the service coverage, terms, and exclusions on products
Montano1993 [528]

Answer: Warrantly

directs manufacturers and sellers to detail the service coverage, terms, and exclusions on products.

3 0
3 years ago
40 points fast easy question. ………….
Naddik [55]
It’s depends which artical your reading since you have to re read the book to answer.
3 0
2 years ago
Which of the following closings is most effective? a.Bring your lunch and join the group! Because the room is limited to 30, ple
givi [52]

Answer:

Lunch and learn are casual gatherings where individuals can eat just as find out about the meeting. It is an open door for colleagues of various fields to share their expertise and experience. This methodology can urge and rouse representatives to learn.  

( a). This end isn't a lot of viable as it doesn't make a decent effect on the brains of the members. The end ought to be welcoming individuals not giving them the courses of events to book reservations. Greeting ought to be offered uniquely to the quantity of individuals constrained to the quantity of seats accessible.

(b). It is the best shutting as Lunch and Learn ought to be entertaining. On the off chance that the occasion has been at short notification, members can bring their own lunch and accumulate for an enjoyment learning meeting. This end is additionally a casual greeting for the casual meeting.  

(c). This shutting isn't a lot of successful as Lunch and Learn is progressively about Learn while having nourishment. There is a casual conversation about work while eating. It is nothing worried about how to eat brilliant or eating high-calories.  

7 0
3 years ago
Other questions:
  • How does the skin protect the body from illness chek all that apply
    8·1 answer
  • Mike is registering his real estate company. He has a license and all of his sales associates and broker associates have license
    9·1 answer
  • MOSS COMPANY Selected Balance Sheet Information December 31, 2018 and 2017 2018 2017 Current assets Cash $ 90,650 $ 32,800 Accou
    11·1 answer
  • Herman Co. is considering a four-year project that will require an initial investment of $7,000. The base-case cash flows for th
    14·1 answer
  • Colorado Corporation's financial statements include the following information:
    5·1 answer
  • he following information for Cooper Enterprises is given below: December 31, 2021Assets and obligations Plan assets (at fair val
    10·1 answer
  • Administrators
    9·2 answers
  • In capitalism what is pure competition?
    11·1 answer
  • alpha corporation began using the mark zing for chocolate candy bars in new york and new jersey in 2010. in 2015, without any kn
    6·1 answer
  • A good investment should do one or both of which two things? a. grow in value or produce income b. raise prices or increase dema
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!