Based on the change in price and quantity demanded, the cross-price elasticity would be<u> 2.57.</u>
<h3>What is the Cross-price elasticity?</h3>
It shows how much the demand for a good is affected by a price change in a related good.
It is calculated as:
= Change in quantity demanded of one good / Change in price of the other good
= 36% / 14%
= 2.57
In conclusion, the cross-price elasticity is 2.57.
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Answer:
The users of social media have become the product of social media.
Explanation:
The largest source of revenue for social media is advertisement, they use the pay-per-click revenue model. Another source of revenue is by offering users a basic service for free but then charging money for a more complete and advanced premium service.
Answer:
Okay
1. Sell more
2. rise
3. Once they sell half of there stock, so they have money to make more.
Explanation:
Marketing programs that track purchase history and provides incentive to their loyal customers are known as loyalty programs.
The correct answer to this question is option A. Loyalty programs as the name implies are offered to those customers that are found to be loyal to a business.
These types of programs offer special discounts, rewards, as a way to retain these customers and also attract new ones.
Such programs are established to encourage repeat business.
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