Danny "Dimes" Donahue is a neighborhood’s 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he
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Answer: Her income elasticity of demand for cottage cheese is <em><u>0.3333</u></em> making it a <em><u>normal and necessary</u></em> good.
The income elasticity of demand is given by :
The percentage change in income is given as 60%. We calculate the percentage change in quantity demanded as follows:
Substituting the value above in the income elasticity demand formula we get,
<u>YED = 0.33333</u>
Since the income elasticity is positive, and since Shawna buys more cottage cheese after an increase in income, we can classify this good as a normal good.
Since the income elasticity is between 0 and 1 we can also conclude that cottage cheese is also a essential good or a necessity.
Answer:
Insufficient data
Explanation:
Suppose x represents the total value of Company H's stock
Here, we need to find out : value of x.
(1) Investor P owns of the shares of Company H's total stock
i.e. Investor P's amount in H's stock =
We did not give P's investment.
Thus, data is insufficient to find value of x.
(2) The total value of Investor Q's shares of Company H's stock is $16,000.
Q's share in company H's stock = $16,000
There is no relation between x and Q's share given,
Thus, data is insufficient to find value of x.
Now, when we combined the data (1) and (2),
We still can not find the value of x.
Because, there are also other investors in stock H other than P and Q.
Hence, the data is inadequate to find total value of Company H's stock.