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maksim [4K]
3 years ago
10

One winter​ recently, the price of antique furniture increased by 10 percent and the quantity demanded decreased by 30 ​percent,

and with no change in the price of refinishing products​, the quantity of refinishing products demanded decreased by 8 percent. What is the cross elasticity of demand for refinishing products with respect to the price of antique furniture​?
Social Studies
1 answer:
Monica [59]3 years ago
8 0

Answer:

The cross-price elasticity is - 0.8.

Explanation:

The price of antique furniture increased by 10 percent and the quantity demanded decreased by 30 ​percent, and with no change in the price of refinishing products​, the quantity of refinishing products demanded decreased by 8 percent.

The cross-price elasticity of demand measures the change in the demand for a product due to a change in the price of a related good. Negative cross-price elasticity means the goods are complements. Positive cross-price elasticity implies that the goods are substitutes.

Cross price elasticity  

= \frac{\Delta Qy}{\Delta Px}

= \frac{-8}{10}

= - 0.8  

The cross price elasticity is negative which means that the goods are complements.

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At common law, a minor cannot be held contractually liable for his or her necessary medical expenses when the parent is unable o
DIA [1.3K]

Answer:

False

Explanation:

At common law, a minor can be held contractually liable for items and goods that are necessary to the minors health and safety and medical expenses on health are one of such, others are food, shelter and clothing. While expenses on medical care provided to a minor is primary the responsibility of the minors parents, such minor can be contractually liable if the parents cannot afford the money.

7 0
3 years ago
Which of the following experimental designs have the least explanatory power compared to the others?
Leto [7]
<h3>Answer:</h3>

d. One-shot case study

<h3>Explanation:</h3>

The reason why answer choice "d. One-shot case study" would be the correct answer because this would be a experimental design that has the least, or fewest, explanatory power compared to the other experimental designs.

A one-shot case stud is a study where students do not use any controlling factors and use only a single test group. Only one measurement would be taken after the study. The only thing that a one-shot case study would be measuring is the post-test results.

A "explanatory power" is pretty much a theory or hypothesis that one could make about a given subject and explain the subject very well and what causes it.

A one-shot case study doesn't have many factors that would help support a theory or hypothesis, due to the lack of evidence it would provide. This is why a one-shot case study would have the least explanatory power.

<h3>I hope this helped you out.</h3><h3>Good luck on your academics.</h3><h3>Have a fantastic day!</h3>
6 0
2 years ago
Vincent is reading over the paper that he has written. He realizes that he went off on a bit of a tangent, and one of his main p
Katyanochek1 [597]

Answer:

Editing for content

Explanation:

Vincent is reading over the paper that he has written. He realizes that he went off on a bit of a tangent, and one of his main points does not line up with his thesis statement. This was discovered while Vincent was <u>editing for content</u>.

Editing for content is also known as heavy editing, this type of editing involves checking to see if the content of the write-up is okay and in-line with the topic of interest and any unnecessary content is removed.

4 0
3 years ago
When was Meghan trainor born
Inessa05 [86]
She was born on December 22, 1993, which means that she is 21 years old.
She was born in Nantucket, MA (Massachusetts).

8 0
3 years ago
Read 2 more answers
Lp problems must have a single goal or objective specified. True or False
AnnyKZ [126]

Answer:

True

Explanation:

Linear Programming is an optimization technique used in a system with multiple constraints that requires a solution. While not always optimal (even though it strives to be), the solution is at least feasible and adequate in managing limited resources in production, for example. LP will, in that sense, always have a single goal specified, trying to simplify a problem with multiple variables.    

6 0
3 years ago
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