Suppose the cross-price elasticity of demand between goods

Assignment Help Business Economics
Reference no: EM13818059

Suppose the cross-price elasticity of demand between goods X and Y is -1. How much would the price of good Y have to change in order to change the consumption of good X by 30 percent?

Reference no: EM13818059

Questions Cloud

How affirmative action is often presented in the media : Affirmative action is one of the most controversial topics in employment law. How affirmative action is often presented in the media? How similar is that portrait to the one presented in Johnson v. Transportation Agency, Santa Clara County ? When are..
Substitution and income effect for the utility function : Calculate the substitution and income effect for the utility function: u(x,y) = x + lny and show that the Slutsky equation applies to those cases.
Judiciary regarded as least dangerous branch of government : Why is the judiciary regarded as the “least dangerous” branch of government? Citing examples of its powers and its place in history, do you agree or disagree with this assessment?  Should nine unelected justices have the authority to nullify state an..
The infant industry argument is more frequently : It is noted in the text that the infant industry argument is more frequently used in developing countries than in developed countries. Why might this be the case? Does this necessarily have to be the case?
Suppose the cross-price elasticity of demand between goods : Suppose the cross-price elasticity of demand between goods X and Y is -1. How much would the price of good Y have to change in order to change the consumption of good X by 30 percent?
Briefly describe how these firms would price discriminate : Briefly describe how these firms would price discriminate: department stores, airlines, movie theatres
Addictions come from the inability of addicts : Some people believe that addictions come from the inability of addicts to self-soothe the inner rage they experienced as a child. Where do you stand on this issue? Explain your position, and support it with at least 2 scholarly sources.
Identify one company with a history of management success : Identify one company with a history of management success that was destroyed by a "leadership" failure. Describe the demise of the company and describe the "leadership failings" that contributed to that demise. The paper should include a description ..
Describe theories on what motivates people makes satisfied : Describe the theories and key assumptions on what motivates people or makes them satisfied. Apply one of the theories to a specific situation related to motivation you have witnessed or experienced professionally.

Reviews

Write a Review

Business Economics Questions & Answers

  Suppose belgium produces only two goods-chocolate and lace

Suppose Belgium produces only two goods, chocolate and lace. If Belgium has a comparative advantage in lace, a move toward free trade will

  Political parties-their roles and functions within system

Major factors in the system of American government are the political parties and their roles and functions within the system. In a minimum of three well-written paragraphs, discuss the roles and functions/purpose of the political parties as they curr..

  Semi-annually through a company-sponsored saving plan

Ryan expects to deposit $1,000 now, $3,000 four years from now, and $1,500 six years from now in an account that is earning 12% per year compounded semi-annually through a company-sponsored saving plan. What amount can he withdraw ten years from now?

  How long will it take them to have a total savings account

If their account earns 6 percent per year compounded quarterly, how long will it take them to have a total of $20,000 in their savings account?

  Values of the deposit multiplier and the money multiplier

Economists believe that the current values of the deposit multiplier and the money multiplier are widely divergent. Why might these values differ at present? What (if anything) do you think must happen for them to converge once again?

  Determine the fw of the cash flows

Since the cash flows compose a gradient series followed by a uniform series, solve the problem using those factors. Determine the FW of the cash flows.

  Number of jobs increase or decrease

Compute the new equilibrium wage and the new number of jobs. Will the number of jobs increase or decrease.

  Using the midpoint formula-what is the elasticity of demand

Suppose the demand for oranges in the U.S. is: P = 5.35 - .012 Q. Where Q is the quantity demanded for oranges in the U.S. (measured in millions of boxes per year) and P is the price per box.

  Substantive responses use theory

Substantive responses use theory, research, and experience or examples to support ideas and further the class knowledge on the discussion topic.

  Venture capitalist-calculate the compound annual return

An entrepreneur seeks $4 million from a venture capitalist. They agree that the entrepreneur’s venture is currently worth $12 million and that, when the company goes public in an IPO three years hence, it will have an expected market capitalization o..

  Discuss the effects of hiv-aids on the economies

Discuss the effects of HIV/AIDS on the economies of african countries. Making sure to discuss the sources of economic growth and the use of scarce resources.

  Find ticket price that maximizes revenue

Find ticket price that maximizes revenue. Find profit-maximizing expenditure on players and profit-maximizing fraction of games to win.

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!

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