Explanation:
The cross-price elasticity formula is:
CPE= Δ%q of good A/ Δ%p of good B
The CPE of penguin patties and raskels is:
CPE= -22%/-20%
CPE= 1.1
A positive CPE means that both good are substitutes; often, penguin patties take the place of raskels. An increase in price of penguin patties will affect positively the quantity demanded for raskels.
The CPE of penguin patties and kipples:
CPE= 7%/-20%
CPE=-0.35
A negative CPE means that both goods are complementary, which means that consumers will likely consume them together. An increase in price of penguin patties will affect negatively de quantity demanded for kipples.
Complementary goods should be advertise together because both could be positively benefited by advertising. If the demand for penguin patties increases, it is probable that the demand for patties increases too. If you advertise substitute goods, people will always prefer one, then the advertising will only be effective or for penguin patties or for raskels.
The account titles for transaction (C) 5/4 should appear in the Account Title column of the journal entry as s<span>upplies Cash
Hope this helps!!</span>
Answer:
Regional = 32 million
Pop/rock = 18 million
Tropical = 8 million
Explanation:
Given that
Total sales of the 3 categories = 58 million.
Let a denote regional
b denote pop/rock
c denote tropical
Thus
a + b + c = 58 million
From the question
a = 4c (regional 4 times tropical). equation 2.
Also, pop/rock music brought in $10 million more than tropical music
Thus,
b = c + 10. equation 3.
By eliminating a and b, put equation 2 and 3 in 1
We have
a + b + c = 58
4c + c + 10 + c = 58.
Collect like terms,
6c = 58 - 10
c = 48 ÷ 6
c = 8
Thus, tropical music = 8 million.
Recall that,
a = 4c
Thus
a = 4 × 8
= 32.
Therefore regional music = 32 million.
Again, recall that,
b = c + 10
Thus, b = 8 + 10
= 18
Therefore, pop/rock = 18 million.
8 + 18 + 32 = 58
Answer:
The answer to this question is A. Interaction between a private party and another private party
Explanation:
A free market economy, otherwise known as a capitalist economy is one that is controlled by private individuals with little or no government control.
A free or capitalist system may be defined as one in which all or most means of production are owned and controlled by private individuals and in which the economic activity of the government is at minimum.
In a capitalist economic system, private individuals play greater role than the government in taking decision about on what to produce, how to produce and the distribution of what is produced.
Hence, the allocation of benefits and costs is determined in a free market economy by A. Interaction between a private party and another private party
