Which of the following situations are equal to 50%? Select all that apply.
2 answers:
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Answer: The value of cross price elasticity is 1.6.
Step-by-step explanation:
Since we have given that
Percent change in price = 10%
Percent change in quantity = 16%
So, we need to find the cross price elasticity between the two movie club memberships.
As we know the formula for cross price elasticity :
Hence, the value of cross price elasticity is 1.6.
1.1 Pull out like factors :
-8x - 2 = -2 • (4x + 1)
2.1 Divide both sides by -2
Remember to flip the inequality sign:
2.2 Divide both sides by 4
x+(1/4) ≥ 0
Solve Basic Inequality :
2.3 Subtract 1/4 from both sides
x ≥ -1/4
