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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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In the Flying Tigers case study from lesson two, General Chennault established an organization in which reward pay was contingen
kirill [66]

Answer: General Chennault established specific and measurable goals for the pilot.

Explanation:

From the question, we are informed that in Flying Tigers case study from lesson two, General Chennault established an organization in which reward pay was contingent on performance based standards.

The kind of goal setting and pursuit strategy represented in this case study show that General Chennault established specific and measurable goals for the pilot. The pilots know what to do in order for them to get rewarded.

6 0
3 years ago
A team from Quanto Technologies is engaged in an in-person meeting with a team from RealMart Inc. to discuss the purchase of com
kobusy [5.1K]

Answer:

<u>A Sales Call </u>

Explanation:

A sales call refers to a formalized meeting arrangement between the sellers representatives and the prospective buyer, with an intention to clarify the prospects doubts and effect a sale.

Such a meeting is usually a face to face meeting between the sales representatives and the prospective buyer.

In the given case, a sales team from Quanto is engaged in an in-person face to face meeting with a team from Real Mart to discuss purchase of computer hardware.

This represents a case of a sales call being conducted to eliminate buyer doubts and effect sales.

5 0
4 years ago
Country x would have an absolute advantage over country y in the production of automobiles under what conditions?
Paul [167]
Under the condition that country X can manufacture cars more cheaply. An absolute advantage devours in a country if it makes good over alternative country and uses a smaller amount of wealth to yield that good. The result of a country’s natural legacy is the absolute advantage. Another example is extracting oil in Saudi Arabia is pretty much just a matter of drilling a hole. Generating oil in other countries can is essential substantial exploration and costly technologies for drilling and extraction if certainly they have any oil at all. The United States devours about the richest farmland in the world which manufacture it at ease to grow corn and wheat than in many other countries. Guatemala and Colombia partake environment particularly suitable for growing coffee. Chile and Zambia have about of the world’s richest copper mines. As some have claimed that geography is destiny. Chile will bargain copper and Guatemala will harvest coffee and they will trade. When each country has a product others necessity and it can be manufactured with fewer resources in one country over another then it is easy to visualize all parties do good from trade. Thinking about trade just in relations of geography and absolute advantage is incomplete. Trade actually happens because of comparative advantage.
4 0
3 years ago
Read 2 more answers
Any agreement should, as a part of the services provided, allow your organization to __________ your disaster recovery plan. Sel
eimsori [14]

Answer:

The correct answer is A. Test.

Explanation:

A test is different from an experiment: Before performing a test, there is an expected result. The test is performed to show this result. In an experiment, the result is open. Very often, tests are performed as part of an experiment.

8 0
4 years ago
For the month of June, Mae Green budgeted the following amounts: $180 for food, $475 for rent, $15 for transportation, $50 for i
Vinil7 [7]

Answer:

No, she did not

Explanation:

In this question, we are asked to answer if Mae stayed within her budget, given her budget and the total amount she later spent.

To solve this problem, what we need to do is to add up all what she budgeted. Afterwards we add up all she spent. Then , we see the difference between the two to actually know if she stayed within her budget of not.

We proceed as follows:;

Let’s calculate budgeted amount: This is ; 180 + 475 + 15 + 50 + 65 + 25 + 150 + 30 = $990

Now, let’s calculate how much she later spent; That would be; 182 + 475 + 12 + 65 + 68 + 12.5 + 36 + 150 = $1000.5

We can see that she spent more that the amount she had budgeted. This means she didn’t stay within the total amount allocated for her budget

3 0
3 years ago
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