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almond37 [142]
3 years ago
5

If income increases by 10% and, in response, the quantity of housing demanded increases by 7%, then the income elasticity of dem

and for housing is A) -1. B) -0.7.
Business
1 answer:
Katen [24]3 years ago
4 0

Answer:

the income elasticity of demand is 0.7

Explanation:

The computation of the income elasticity of demand is shown below:

As we know that

Income elasticity of demand is

= Percentage change in quantity demanded ÷ Percentage change in income

= 7 ÷ 10

= 0.7

hence, the income elasticity of demand is 0.7

The same is relevant

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Every person I have ever met says their favorite pizza is pepperoni pizza. Therefore, I can assume that everyone I ever meet wil
oksano4ka [1.4K]

Answer:

Inductive reasoning

Explanation:

This type of reasoning is considering generalization that is formed and based on some previous experiences and with that previous experiences the observation that is made is forming an inductive reasoning.

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3 years ago
Assume that a company sells customized sweatshirts for $15 per unit. It pays a sales commission of $5 per unit sold. The company
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Answer:

The  The number of sweatshirts the company would need to sell to earn a target profit of $1,710 is closest to <u>570</u> sweatshirts.

Explanation:

This can be calculated as follows:

Selling price per unit = $15

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5 0
2 years ago
Imagine you are a consultant who has been asked to summarize the strengths and weaknesses of Customaria, a nation with a pure tr
zavuch27 [327]

Answer:

There is little cooperation, relative to other economies.

The participants in the economy are slow to adopt new beneficial technologies due to previous customs.

Occupational choices can be restricted.

Explanation:

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There is the absence of international trade, as barter is the reigning exchange method done only inside the country.

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3 years ago
A stock currently sells for $25 per share and pays $0.24 per year in dividends. What is an investor's valuation of this stock if
Kisachek [45]

Answer:

B) $26.30

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To determine an investor's valuation of the stock we must calculate the present value of next year's dividend and selling price:

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4 0
2 years ago
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