The cross elasticity of demand for senior workers is 1.5. Senior workers and entry-level workers are gross complements.
The scale effect dominates in this example.
If the wage of the entry level workers increase, the demand curve would shift to the right.
<h3>What is the crosss price elasticity?</h3>
Cross price elasticity of demand measures the responsiveness of quantity demanded of good A to changes in price of good B.
Cross price elasticity = 15% / 10 = 1.5
Complement goods are goods or resources that are used together. As a result of the decline in wages, senior workers would be laid off. This means that senior workers and entry level workers work together.
<h3>What is the effect on the demand curve if the wages of entry level workers increase?</h3>
If the wage of the entry level workers increase, the demand for senior workers wouuld increase. This would lead to a shift to the right of the demand curve for senior workers.
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Answer:
C) maturity
Explanation:
The four stages of the product life cycle are:
- Introduction Stage
-
Growth Stage
-
Maturity Stage: at this stage the product is already well established and its sales growth rate slows down. The highest sales level are achieved at this stage. This is also the stage at which the product faces the most competition, so the companies must modify and improve their products.
-
Decline Stage
Answer:
When making a major purchase, first determine your <u>net
</u> income by subtracting the deductions from your gross pay.
Explanation:
In business and accounting, net income is an entity's income minus cost of goods sold, expenses and taxes for an accounting period.
Answer:
b. a wiki
Explanation:
A Wiki is an electronic communication tool that works with resources similar to a website, but with the differential of the possibility of jointly editing authorized users while accessing the content, for updates, implementation of new information, resources, etc.
This tool would be essential for the marketing team with global sales representatives, because through it it would be possible to demonstrate the new resources through the sharing of information and exclusive materials made available through the wiki that can be accessed from any location and at any time.
Answer:
b increased by 2%.
Explanation:
Increase in real wage = 6% - 4% = 2%
