User Account

All Pages

Calculated the income elasticity for product

Assignment Help Business Economics
Reference no: EM132162122

The firm that you work for has calculated the income elasticity for your product to be -0.2. If income rises by 20%, you can expect your sales to increase by 40%. Is this true or false? Please explain

Reference no: EM132162122

Questions Cloud

Does this statement make economic sense and why : Does this statement make economic sense and why?
Define the law of diminishing returns : Define the law of diminishing returns, how does it differ from decreasing returns of scale
Value management practice : What's the difference between the ECONOMIC VALUE of a project and VALUE as expressed in VALUE MANAGEMENT practice?
Substitution or income effect dominates : Assume x and y are the only two goods a person consumes. If after a rise in Px the quantity demanded of y increases, one could say
Calculated the income elasticity for product : The firm that you work for has calculated the income elasticity for your product to be -0.2. If income rises by 20%, you can expect your sales to increase by 40
Do you think that punishment : Do you think that punishment and/or rewards have a place in a plan of intervention for a student who has not responded to alternative approaches? Why or why not
Luis vuitton ladies bag : Discuss the relationship between price elasticity of demand and total revenue. Why is that you don't see a "sale" on Luis Vuitton Ladies Bag?
Contribute to maximizing profit of business : Illustrate how you and your Division will contribute to maximizing profit of your business.
What are the strengths and weaknesses of these arguments : What criticisms have been made of these approaches to global business? What are the strengths and weaknesses of these arguments?

Reviews

Write a Review

Business Economics Questions & Answers

  About the market for loanable funds

At minimum, a market model must include all of the following except. Which of the following statements is true about the market for loanable funds?

  What was the national savings

Suppose government spending was $3.70 trillion, tax revenue was $4.50 trillion, GDP was $14.04 trillion, and total consumer spending was $10.70 trillion. (Instructions: Round your answers to two decimal places and include a negative sign if necessary..

  Imported goods in order to reduce our trade deficit

Raising tariffs on imported goods in order to reduce our trade deficit with other countries, (i.e. NXUSA

  About marginal and average tax rates is correct

Which of the following statements about marginal and average tax rates is correct?

  What will happen in the market for personal computers

what will happen in the market for personal computers? How will the equilibrium price and equilibrium quantity of personal computers change?

  Statements is example of practical constraint on trade

a tariff placed on imported foreign vehicles will have what effect? which of the following statements is an example of a practical constraint on trade?

  What price also quantity would prevail

Illustrate what price also quantity would prevail after the imposition of the tax

  Maintaining low unemployment than maintaining low inflation

Agreement and disagreement among economists Suppose that Alex, an economist from a university in Arizona, and Becky, an economist from a public television program, are arguing over government intervention. Central banks should focus more on maintaini..

  Discuss the modifications and considerations for testing

Discuss the modifications and considerations for testing and exercise prescription for persons with heart disease, obesity, diabetes and pulmonary disease.

  What is the inverse demand curve faced by gsi

Determine the demand curve faced by GSI. What is the inverse demand curve faced by GSI? (note: simplify-no fractions)

  Sufficiently to transform the frustrating situation

Before 1976, the airlines often denied boarding to passengers who were flying on urgent business in favour of passengers who were not in any particular hurry to reach their destinations. This would seem to be a cooperative failure.

  Perfect competition the best form of market structure

Why is Perfect Competition the "best" form of market structure? Does Perfect Competition exist?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd