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marusya05 [52]
3 years ago
11

If a 10 percent increase in income induced a group of consumers to reduce their yearly purchases of eggs by 5 percent, for these

consumers, Group of answer choices the income elasticity of eggs equals approximately 1.05. the income elasticity of eggs is 0.5. eggs are a luxury good. eggs are an inferior good.
Business
1 answer:
Ulleksa [173]3 years ago
3 0

Answer:

the income elasticity of eggs is 0.5.

Explanation:

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

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

5/10 = 0.5

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

If the absolute value of income elasticity of demand is less than one, it means demand is inelastic.

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What is a stock dividend? and im not sure how to calcuate the monthly payment.
maksim [4K]

Answer:

Marie est allee chez le medecin

3 0
3 years ago
If the money supply is​ $500 and nominal income is​ $3,000, the velocity of money is A. ​1/60. B. ​1/6. C. 6. D. 60.
algol [13]

Answer:

The correct option is c.6

Explanation:

For computing the velocity of money, the following formula should be used which is shown below:

The Velocity of money = Nominal income ÷ money supply

where,

Nominal income is $3,000

and, the money supply is $500

Now put these values to the above formula so that we can find out the answer

So, the answer would be equal to

= $3,000 ÷ $500

= 6

Thus, the velocity of money is 6

Hence, the correct option is c.6

5 0
3 years ago
The marketing director for Zap Games, a video game company, has informed his employees that he feels the company needs to improv
guapka [62]

Answer:

The correct answer is task.

Explanation:

The work environment is one of the most important elements for the proper functioning and growth of an organization. A positive work environment contributes to greater productivity and employee engagement. For this reason, it is extremely important that the work environment is adequate, pleasant and stimulating to achieve a motivated team of high productivity.

It is indisputable that the work environment is a key factor in work relationships, however, it is difficult to define it and to specify the characteristics that determine it. From the employee's point of view, the work environment is the set of conditions that contributes to achieving satisfaction in the workplace. From the perspective of the company, it can be defined as the sum of elements that influence the organizational climate, productivity and good performance of employees.

5 0
3 years ago
A pest control company sprays insecticide around the perimeter of a 180 ft by 180 ft building. if the spray costs $0.11 per foot
Bess [88]
To the nearest dollar, it would cost $3,564
6 0
3 years ago
If the direction in managerial work today is away from command and control, what is it toward?(a) Coaching and facilitating (b)
vagabundo [1.1K]

Answer:

(a) Coaching and facilitation

Explanation:

Coaching refers to polishing the skills of the employees by imparting knowledge and adequate training so that they are able to contribute efficiently as well as perform to their potential.

Facilitation refers to easing out the processes or making complex tasks easier. Facilitation refers to the act of simplifying a task.

Command and control tend to be imperative, domineering and authoritative.  Those two terms also point towards rigidity and inflexibility.

Thus, shift in managerial work from command and control has been towards (a) Coaching and facilitation.

6 0
3 years ago
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