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Marina86 [1]
3 years ago
13

Blake eats two bags of potato chips each day. Blake's hourly wage increases from $9 to $15, and he decides to stop eating generi

c chips and instead eats a name brand potato chip. Use the midpoint method to calculate Blake's income elasticity of demand for generic potato chips.
Business
1 answer:
max2010maxim [7]3 years ago
8 0

Answer:

-4 units

Explanation:

Using the midpoint method, Blake's income elasticity of demand for generic potato chips is given by the change in demand (D) multiplied by his average income (I), divided by the change in income multiplied by the average demand:

E=\frac{\Delta D}{\Delta I}*\frac{I_{avg}}{D_avg}\\E=\frac{0-2}{15-9}*\frac{\frac{9+15}{2}}{\frac{2+0}{2} }\\E=-4\ units

Blake's income elasticity of demand is -4 units.

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Answer:

Quality assessment

Explanation:

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Quality standards are set for different criteria and the quality assurance officer follows certain steps to ascertain if minimum standard is being met.

If however the quality standard is below expectations, Tha cause is determined with a view of making improvement.

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Your portfolio consists of $50,000 invested in Stock X and $50,000 invested in Stock Y. Both stocks have an expected return of 1
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Answer:

b. Your portfolio has a beta equal to 1.6, and its expected return is 15%

Explanation:

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3 years ago
Now suppose that Congress, concerned about the welfare of the working class, passes a law setting a minimum wage that is 10 perc
zlopas [31]

Answer:

hello your question is incomplete attached below is the complete question

A )   $7.766

B )   4350 workers

C )   61777.20

D )    $33782.10

Explanation:

A) Real wage = 4 *  (\frac{K}{L} )^{0.2}

 where ; K = 120000,  L = 7000

   hence Real wage = 7.06  before 10% increase

After 10% increase ; Real wage =  7.06 + (7.06 * 0.1 )  = $7.766

B) employment ( L )

L = \frac{4^5 * K}{W^5}   =  L = \frac{1024*120000}{28247.95}  =  4350 workers

C) Output

Y = 5 ( 120000 )^0.2  *  (7000)^0.8

    = 61777.20

D) Total amount earned by workers

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3 years ago
According to dorn et al. (2008 a one percentage point increase in the national unemployment rate would increase enrollments in t
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How can a leased fee estate have a value that could be transferred to another party?
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Answer:

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Explanation:

Leased Fee Estate

Leased Fee estate represent properties are owned per an individual given out as rent for a particular period of time. The owner of the estate is the lessor and the individual who is renting is the lessee. The lessee takes rent of the property for a period of time for a fee consideration.

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Once the value is determined, then the value can be transferred either from a lessee to another or from the lessor to the lessee

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