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As the price of good X rises from $10 to $12, the quantity demanded of good Y rises from 100 units to 114 units. Are X and Y sub

Darina [25.2K]

Answer: Substitute

Explanation:

Substitute goods are the goods that can be used for the same purpose. Complement are the goods that are used together e.g. car and petrol.

It should be noted that when the price of a good increase, people move to the substitute and this will being about the rise in the quantity demanded of the other good.

Therefore, as the price of good X rises from $10 to $12, the quantity demanded of good Y rises from 100 units to 114 units shows that the are substitutes.

4 0

3 years ago

a report must be sent promptly to FINRA if a registered employee of a member firm for all of the following EXCEPT: A has violate

Gnom [1K]

Answer:

D

is ticketed for careless driving

Explanation:

FINRA Rule 4530 says one can report

each member of the firm promptly to FINRA, within 30 calendar days,

6 0

3 years ago

If the absolute value of the price elasticity of demand is greater than 1:

FrozenT [24]

Answer:

b. small percentage changes in the price will lead to much larger percentage changes in the quantity demanded.

Explanation:

Price elasticity of demand is a measure of how responsive is quantity demanded to change in price. Its formula is given by:

$E_{D}$ = $\frac{dQ}{Q}{\frac{P}{dP} =$

= % Change in Quantity Demanded / % Change in Price

So when absolute value $E_{D}$ is greater than 1, a x percentage change in price will lead to larger than x percentage change in quantity demanded.

Note: Whether the percentage change in quantity demanded will be just a little or very much larger than percentage change in price will depend on how much $E_{D}$ is larger than 1. But b is the still the best answer among the options.

7 0

3 years ago

Oriole Company purchased equipment for $41600. Sales tax on the purchase was $2496. Other costs incurred were freight charges of

Aleksandr [31]

Answer:

The cost of the equipment is $45,416.

Explanation:

The cost of a newly purchased equipment is the addition of all relevant costs uncured in order to make the equipment ready for use.

The cost of the equipment includes costs such as purchase price, tax paid on the purchase, installation costs, etc.

However, any cost incurred to repair any damage to an equipment during installation is not part of equipment cost. Such repair costs are just ordinary expenses that are charged to the income statement during the period.

Based on the explanation above, the cost of the equipment by Oriole Company can be calculated as follows:

Equipment cost = Purchase price + Sales tax + Freight charges + Installation costs ..................... (1)

Since,

Purchase price = $41,600

Sales tax on the purchase = $2.496.

Freight charges = $624

Installation costs = $696.

Substituting the values into equation (1), we have:

Equipment cost = $41,600 + $2,496 + $624 + $696 = $45,416

Therefore, the cost of the equipment is $45,416.

5 0

3 years ago

Hey guys I know this isn’t a math or any school related thing but can y’all please subscribe to my channel . Please

Oduvanchick [21]

Yeah yeah ofccccccc!!!!!!

5 0

3 years ago

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