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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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When should you start saving money?
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Answer:

b)

Explanation:

b- as soon and you have the money ~ so that let's say for example you want a phone and the phone is 300 dollars and you get 15 dollars/ an hour you would save up to get it

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3 years ago
Tracy Brady is in the process of developing an exciting new product in the smartphone industry. She'd like to show a preliminary
Westkost [7]

Answer:

Concept

Explanation:

Tracy is about to launch a new product but before that, she is interested to get initial feedback from experts and customers. In order to show them how the product works and to share small details to better understand the product, Tracy needs to complete and distribute the concept statement. It will help customers and industry experts to know the purpose and the plan of Tracy.

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3 years ago
Read 2 more answers
Which component of the amps model most appropriately addresses the axiom, "your data won’t speak unless you ask it the right dat
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Ask me a question component of the amps model most appropriately addresses the axiom, "your data won’t speak unless you ask it the right data analytics questions.

All optimization problems consist of three components: objective function, decision variables, and constraints. When we talk about formulating an optimization problem, we mean transforming the "real world" problem into the formulas and variables that make up these three components.

The prescriptive of the amps model analysis is action. This type of analysis tells the team what to do based on the predictions made. Being the most complex type, less than 3% of businesses use him.

Learn more about the amps model at

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6 0
2 years ago
Back to Assignment
KonstantinChe [14]

Answer:

only 5 point.................

7 0
3 years ago
Mohawk Machining, which uses a process-costing system, adds material at the beginning of production and incurs conversion cost e
KATRIN_1 [288]

Answer:

C. 60%

Explanation:

Equivalent unit of Materials = 8,000.00      

Equivalent unit of Conversion = 7,400.00      

Units started and completed = 6,500.00

Since Materials are entered in the beginning it means that out of 8000 Units of Materials 6500 units are in Units started and completed and remaining 1500 Units are in Closing inventory. It also means that 1500 units are in Closing Inventory of Conversion and Equivalent production of conversion part of 1500 Units are 900 Units (7400-6500).

Let % Completion be x      

X% of 1500 = 900      

X = 900*100/1500      

X = 60%.

7 0
3 years ago
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