Answer:
-1.25
Explanation:
Given that
Q1 of tomatoes = 3
Q2 of tomatoes = 5
P1 = 1.50
P2 = 1
Using midpoint formula
Recall that
Midpoint = [(Q2 - Q1)/(Q2 + Q1/2)] ÷ [(P2 - P1)/(P2 + P1/2)]
Thus
(5 - 3)/(5+3/2) ÷ (1 - 1.5)/(1 + 1.5/2)
= 2/4 ÷ -0.5/1.25
= 0.5 ÷ -0.4
= - 1.25
The cross price elasticity of demand is -1.25 and they are thus compliments.
<span>The Solver Population Report displays the best value, average, standard deviation, maximum and minimum value for each variable or constraint across the entire range of potential solutions as determined by using the Evolutionary Method (EM). It can indicate if better solutions can be obtained by further running the EM.</span>
Answer:
Fall or decrease
Explanation:
Other things being constant, if two goods are close substitutes, decrease in the price of one good will lead to fall in the demand of its substitute, The price of the good that has fallen is now available at cheaper price. So consumers will demand more of cheaper good, thereby increasing its demand and decreasing the demand of substitute good. As such, both equilibrium price and quantity of other good falls or decrease.
Answer:
Maurice, the marketing head of a nonprofit organization, always begins his presentation on a project by sharing a lesser-known fact about the issue that the project focuses on. This helps the members of the audience get a better picture of the importance of the issue and makes them more attentive. Given this information, it can be assumed that Maurice uses persuasive means to open his presentations.
Explanation:
From the above analogy, it is a known fact that Maurice used persuasive presentation by presenting facts to support his claims in order to allow his audience to agree with his presentation.
Bias may be occurring. Bias is basically thinking someone is better than another person due to one factor, without even knowing the person. In this instance, the store manager is only hiring shift supervisors who have a degree, rather than an experienced cashier without a degree. The bias here is dependent on the employee's educational history. The manager may think that even though the cashiers are great, they still may not have the qualifications that one would pick up in college.
