When the price of salad was $5 a cafeteria sold 50 packets of slad dressing a day at $.50 per packet. When they raised the price
1 answer:
Answer:
-2, compliments
Step-by-step explanation:
The computation of the cross elasticity of demand is shown below:
Given that
(P1, Q1) = (7, 25)
(P2, Q2) =(5,50)
Now here we use the mid-point formula for determining the cross price elasticity
= [(Q2 - Q1) ÷ (P2 - P1)} × [(P1 + P2) ÷ (Q1 + Q2)]
= [(50 - 25) ÷ (5 - 7)] × (5 + 7) ÷ [(25 + 50)]
= -2
Hence, the cross-price elasticity is -2
It is negative so these are complementary goods
Hence, the correct answer is -2, compliments
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Answer:
40
Step-by-step explanation:
The data is
21,24,25,28,29,35,37,43,44
To find the third quartile we have to arrange the data in increasing order
so the data in increasing order is
21,24,25,28,29,35,37,43,44
total number of values = 9
Median value = (n + 1 )/ 2
=(9+1)/2
=5th value
so the median is 29
Lower half of the data is the values before the median and upper half of the data is values after the median
so lower half = {21,24,25,28}
Upper half = {35,37,43,44}
so to find the third quartile we will use the upper half of the values
Third quartile means that the median of the values of upper half of the data
As the total No of value in upper half is 4 which is an even no
we will take the middle values of the upper half and take their mean
so
Third Quartile =
=
=40
so the value of third quartile is 40