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Nastasia [14]
2 years ago
14

Sebastian received a raise this year so his income climbed from $45,000 to $52,000. Last year Sebastian purchased 2 sunglasses.

This year he has purchased 7 sunglasses. Assuming that all of the other things remain constant, what type of a good are sunglasses and what type of income elasticity of demand does Sebastian have
Business
1 answer:
sveticcg [70]2 years ago
5 0

Answer:

normal good

elastic demand

Explanation:

Income elasticity of demand measures the responsiveness of quantity demanded to changes in income.

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

percentage change in quantity demanded = (7/2) - 1 = 250%

percentage change in income = (52,000 / 45,000) - 1 = 15.6%

250 / 15.6 =  16.07

If the absolute value of income elasticity of demand is greater than one, it means demand is elastic.

Normal goods are goods that are goods whose demand increases when income increases and falls when income falls

Inferior goods are goods whose demand falls when income rises and increases when income falls.

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A commitment whereby the underwriter agrees to purchase any portion of an issue offered to existing shareholders under a rights
bekas [8.4K]

A commitment whereby the underwriter agrees to purchase any portion of an issue offered to existing shareholders under a rights offering that is left unsubscribed is known as a stand-by commitment.

Commitment means the consent of the backstop parties under the Backstop Rights Purchase Agreement, and purchases of all rights offering shares that exceed the Sopris Senior Note Commitment that the rights offering participants do not purchase in accordance with the rights offering.

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Commitment usually refers to the insurer's agreement to assume all inventory risk. A firm commitment also means agreeing to buy and sell all IPO securities directly from the issuer. Other uses of commitments relate to loans and derivatives.

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Bvlgari Hotel

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Marriott international hotel brand has joined Bvlgari to launch a new luxury brand of hotels to provide the timeless glamour of its heritage in pristine locations while offering flawless luxury service. Marriot International, inc. is one of the largest hospitality companies in the world. They have announced a joint venture with Bvlgari hotel & resort. Bvlgari hotel & resort is famous for its unique Italian hotel design concept, it has a global footprint, its aims to convey the excitement about the Bvlgari brand and its heritage of magnificent Roman jeweller.

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coldgirl [10]

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1.prove the equality of the debit and credit amounts after posting.

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