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Rus_ich [418]
3 years ago
9

10 percent decrease in consumer incomes leads to a 20 percent decrease in the quantity demanded of good D. Instructions: Round y

our answer to one decimal place. If you are entering a negative number be sure to include a negative sign (-) in front of that number. The income elasticity of this good is: . This good can best be described as (Click to select) .
Business
1 answer:
Katyanochek1 [597]3 years ago
4 0

Answer:

Income elasticity = 2

Normal good

Explanation:

Below is the given values:

Percentage decrease in consumers income = 10%

Percentage decrease in quantity demanded = 20%

Use the below formula to find the income elasticity:

Income elasticity = % change in quantity demanded / % in income

Income elasticity = -20/-10

Income elasticity = 2

Since the elasticity is 2 that means good is normal good.

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Answer: If you asked the truth-guard, the truth-guard would tell you that the liar-guard would point to the door that leads to death. If you asked the liar-guard, the liar-guard would tell you that the truth-guard would point to the door that leads to death. Therefore, no matter who you ask, the guards tell you which door leads to death, and therefore you can pick the other door.

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Karl Harris, a marketing critic, is concerned about the pervasiveness of marketing. He points out that advertising messages are
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3 years ago
Many commuters in New York install radio frequency identification (RFID) devices on their cars that can be read automatically as
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Answer:

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3 years ago
Pharoah Company issued $530,000 of 5-year, 5% bonds at 97 on January 1, 2020. The bonds pay interest annually. Your answer is pa
Slav-nsk [51]

Answer:

                                                Dr.             Cr.

Cash                                      $514,100

Discount on bond payable  $15,900

Bond Payable                                       $530,000

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3 years ago
Which quote best represents a person performing a cost-benefit analysis​
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I need help on that too
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