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Lana71 [14]
3 years ago
7

When the price of ketchup rises by 15 percent, the demand for hot dogs falls by 1 percent. a. Calculate the cross-price elastici

ty of demand. Instructions: Enter your response rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Cross-price elasticity of demand: b. Are the goods complements or substitutes: c. In the original scenario, what would have to happen to the demand for hot dogs for us to conclude that hot dogs and ketchup are substitutes? The demand for hot dogs would have to decline. The demand for hot dogs would have to remain unchanged. The demand for hot dogs would have to rise.
Business
1 answer:
zlopas [31]3 years ago
3 0

Answer:

Cross Price elasticity of demand = -0.06

The Goods are complements

If the demand for Hot dogs increased by 15% or more after Ketchup prices increased by 15%, then both items will be interpreted to be substitute items.

Explanation:

Cross Price elasticity of demand = % change in quantity demanded for Hot dogs / % change in price of Ketchup

= -1% divided by 15%

= -0.06

Based on the rules,

When Cross Price elasticity is > 0 = the products are substitutes

When Cross Price elasticity is = 0 = the products are independent

When Cross Price elasticity is < 0 = the products are Complements

This means therefore that Ketchup and Hot dogs are complementary items.

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Answer:

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Explanation:

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The focus of a market development strategy are the existing customers and new customers in the targeted segments that are not currently buying the products of the company.

Market development is therefore a marketing strategy that is employed when a company wants to expand its total market by making effort to promote its current product to new consumers or a new geographical area.

From the question, the statement that  "To continue to grow, we need to target more segments" by Simone indicates that the strategic path Simone is pursuing is <u>market development</u>.

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We will point out the following about the smooth acceleration features:

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<h3>What is the smooth acceleration?</h3>

This is a features in the vehicle that allows for a smoother accelerating experience for the drivers

Therefore, we will point out the mild response in Eco model and how quickly/smoothly LEAF accelerates in drive when demonstrating the 2023 leaf’s smooth acceleration.

Read more about smooth acceleration

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Harrelson Company manufactures pizza sauce through two production departments: Cooking and Canning. In each process, materials a
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Solution:

Instructions Journalize the April transactions:

Date                           Account Titles and Explanation

4/30                              Work in Process—Cooking

                                     Work in Process—Canning

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4/30                              Work in Process—Cooking

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4/30                             Work in Process—Cooking

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4/30                             Work in Process—Canning

                                    Work in Process—Cooking

Cooking and out the debits

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22,800

10,900                             33,700      

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33,800

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55,900                          

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Answer and Explanation:

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(Being salary expense is recorded)

Here we debited the salary expenses as it increased the expenses and we credited the salary payable as  it also increased the liabilities

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(Being cash paid is recorded)

Here we debited the salary expenses and salary payable as it increased the expenses and decreased the liabilities  and we credited cash as it reduced the assets

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