Cross price elasticity refers to the measure of responsiveness of the quantity demanded of a product to a change in price of another good.
From the question given above,
cross price elasticity = -20% / 10% = -2.
The cross price elasticity for the goods above is - 2. Which means that the goods are not substitutes.
A positive cross price elasticity which is greater than zero means that the goods are substitutes.
What would be the effect of a decrease in government taxes on a good's supply curve, ceteris paribus shift to the right
Supply curve shift:
Changes in production cost and related factors can cause an entire supply curve to shift right or left. This causes a higher or lower quantity to be supplied at a given price.
A supply curve shows how quantity supplied will change as the price rises and falls, assuming ceteris paribus—no other economically relevant factors are changing. If other factors relevant to supply do change, then the entire supply curve will shift. A shift in supply means a change in the quantity supplied at every price.
The ceteris paribus assumption :
A demand curve or a supply curve is a relationship between two, and only two, variables: quantity on the horizontal axis and price on the vertical axis. The assumption behind a demand curve or a supply curve is that no relevant economic factors, other than the product’s price, are changing.
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Answer:
The correct answer is Matrix.
Explanation:
In a matrix structure each manager is in charge of the results and tasks executed in his area. Employees are usually accountable to one person who generally manages the project and to another who directs a specific area. The great advantage of this structure is that it allows direct communication, making it possible to take corrective measures faster, in the same way it allows each person to focus on each task so that they can transmit some requirement to the closest person.
Answer:
$100,000
Explanation:
A triple indemnity clause attached to a life insurance policy should pay in case of accidental death three times the amount of the policy. But in order for this clause to be effective, the insured must not have any responsibility in the accident.
In this case, since the accident was caused by the insured, the triple indemnity clause doesn't apply, so the regular amount ($100,000) has to be paid to the beneficiary.
A. A lower lifetime income potential
The other answers are all benefits of picking a trade program over a 4 year degree. This one is a "cost" because of the potential opportunity cost of choosing a different degree that could make more money over time.
