Calculate cross price elasticity when change in price of bread is 6% and change in quantity demanded of butter is 12%

Q: Which of the following will shift an economy's production possibilities curve outward?

A: Production possibility curve is the graphical illustration of the the combination of two goods that ...

Q: Notice that the before-tax equilibrium price was 25. Compared to the price, in the after-tax equilib...

A: Tax incidence  refers to the loss of welfare caused by the imposition of taxes . So , Consumer Surpl...

Q: Question: What conclusions can you draw from these data?

A: We see that the trends are more or less parallel. So the prices move similarly. and has a strong pos...

Q: A ₱ 26,823 debt is to be paid off in eight equal quarterly payments at 3% compounded quarterly. What...

A: Given: The debt amount is = ₱ 26,823 The interest rate is = 3% compounded quarterly The payments are...

Q: Check My Work The Widespread Reach of Economies. Explain why the science of economics is roncerned w...

A: Studying economic events at the micro-level and macro-level answers different economic questions

Q: Match the following items with the type of economy they relate to Free markets create the most wealt...

A: * ANSWER :-    (2) Based on the above information the answer is provided as below.   

Q: Süb noint(s) possible Next question The graph shows the marginal social cost and the marginal privat...

A: External cost refers to the cost that is incurred due to externality. It affects the third party who...

Q: 1. An industrial plant is considering the purchase of a centrifugal pump. Three offers were received...

A: The economic life of an asset is the amount of time it is useful to its owner. Salvage value is an a...

Q: 8. Substitutes, complements, or unrelated? You work for a marketing firm that has just landed a cont...

A: Cross price elasticity of demand measures the responsiveness of quantity demanded of good 1 with res...

Q: For all calculations, carry out each step to 6 decimal places, never put into % form. Final answers ...

A: Location quotient of transportation=200015400Location quotient of transportation is 0.129870

Q: ABC Corporation is the sole_provider of a particular service inthe country. The government has-opene...

A: Monopoly can be defined as a market structure in which there operates a single producer selling the ...

Q: A) 2 hospital days 3) 4 hospital days C) 6 hospital days D) 8 hospital days

A: 2 Hospital days: For 2 days hospital or can be taken as 2 units price per unit is given as $900 Henc...

Q: Explain the contributions of entrepreneurship in economic development

A: The entrepreneur is defined as someone who has the ability and desires to create, manage, and succee...

Q: A company produces and sells a consumer product and is able to control the demand by varying the sel...

A: Given demand function is  p=38+2700D-5000D2     Note D>1 Total fixed cost =$1000 and variable cos...

Q: An equipment costs P10,000 with a salvage value of P500 at the end of 10 years. Calculate the annual...

A: The annual depreciation amount is calculated using the formula number of periods in year/number of p...

Q: . An amount of P 250,000 is deposited now into a savings account that earns 8% per year. This amount...

A: Given: Amount=P 250000 Interest rate (r)=8%    

Q: Given one procedure or service provided by certain hospital, all different payers would be charged t...

A: The market is a location where the transaction of services and commodities takes place. It is import...

Q: Suppose that ​$5,000 is placed in a bank account at the end of each quarter over the next 9 years. W...

A: GIVEN   P = $5000 No. of periods (n)= 9*4 = 36 compounded = 14%  

Q: In the rural area of a large agricultural-based economy in which corn is the staple food, there are ...

A: A perfectly competitive market is the one where there are large number of buyers and sellers of the ...

Q: Do global cities widen the gap between the rich and the poor?

A: Global cities refers to the places or countries which are open to trade with the rest of the world.

Q: Calculate breakeven point.

A: Answer is given below

Q: Market demand for soda is given by QD = 4000 120P and market supply is given by = 200P. Solve for th...

A: QD = 4000 - 120P Qs = 200P For equilibrium, QD = Qs 4000 - 120P = 200P - 120P - 200P = - 4000 320P =...

Q: There is a recent issuanceof a significant number of treasury shares at a higher interest rate. How ...

A: At the market a, when treasury shares are issued at higher interest rate, it implies that the invest...

Q: The following picture represents the impact of a change in total factor productivity. What happens t...

A: We see that the leisure taken has not decreased, which means that the labor hours reamains the same....

Q: I went to the store to buy new bookbag.  I expected to pay $50.  It was only $30.  I got a _________...

A: Consumer willingness to pay measures or represents the cost of a good or service to a buyer.

Q: Yakov lives in Montreal and runs a business that sells boats. In an average year, he receives $793,0...

A: Implicit cost refers to foregone income that could have been earned if resources were invested elsew...

Q: contamination of its water supply. It wants to undertake a benefit-cost analysis of two alternative ...

A: *Answer:           

Q: Now, suppose that Home applies an import quota limiting the amount Foreign can sell to 2 units. The ...

A: (a) Consumer Surplus: Area above price line and below demand curve = 12* 8 * (14-6) = 32 Producer su...

Q: The cost of employer-sponsored health care benefits are expected to approach $16,800 per employee ne...

A: Opportunity cost refers to the next available option that would have been chose in the absence of th...

Q: Exercises: • What are the benefits of registering a business? Comparison be limited company and limi...

A: India has the world's 2nd highest number of unregistered enterprises, with an estimate 127 unregiste...

Q: Because education generates a positive externality, ..... O A. subsidies to colleges or vouchers to ...

A: A positive externality occurs when the production of goods and services indirectly benefits a third ...

Q: Bosch has two production plants, one in Bursa and another one in Cerkezkoy. Asume that Bosch is a Mo...

A: monopoly is the form of market structure where single seller sell the products to large numbers of b...

Q: Assume that a retailer sells 1000 six packs of Pepsi per day at at $3./6pk.  You, as an economic ana...

A: Cross price elasticity of demand measures the responsiveness of quantity demanded of good 1 with res...

Q: As my income increases I buy less cheap, generic paper towels and I buy more expensive Bounty paper ...

A:   As my income increases, I buy less cheap, generic paper towels and I buy more expensive Bounty pap...

Q: The economy below has a linear production possibility frontier, given by C=Y-G/q. The government has...

A: For inferior goods, quantity demanded decrease if price decrease. Here public good has become relati...

Q: Use the following graph: The graph below pertains to the supply of paper to colleges and universitie...

A: Suppliers are the people who incur the costs of production and make the final goods available to the...

Q: What is L? * O Normal Good O Inferior Good

A: a) The table in the question shows the various income levels and quantity of the good demanded. It a...

Q: As a financial manager one's goals for the client is to help them do the following EXCEPT: A. Build ...

A: Financial manager is responsible for the well-being of the firm and to meet shareholders financial n...

Q: In a unitary system of government, -------- O the national government has legal control over local g...

A: A unitary state is one in which the central government is the supreme power and the state is control...

Q: You own a company selling wristwatches. This is its inverse demand equation: Q = 10 - (P/60) Part A:...

A: Price Elasticity of Demand The price elasticity of demand measures the responsiveness of change in t...

Q: Find and read an opinion editorial (op-ed) article discussing globalization. Extract the underlying ...

A: Globalization is a strategy for intraction and combination among individuals, organizations and stat...

Q: In a simple but delicious world, Joey eats only sandwiches, s, and jam, j. He has a Cobb-Douglas uti...

A:   a. Since N>0, for any N in that, the order of the bundles will be preserved. That mean if bundl...

Q: A machine has a first cost of $5,000 with a useful life of 5 years. It will have a salvage value of ...

A: Given  The first cost of machine =$5000 Useful life= 5 years Yearly maintenance cost =$500 Salvage v...

Q: and lot in a city with a 10% sales tax. He has at most $88,000 to spend. In what price range should ...

A: given sales tax = 10 % David can most spend upto 88000 $ This means that the whatever it purchases, ...

Q: Place the orange line (square symbol) on the following graph to show the most likely short-run suppl...

A: The Short-Run Supply curve for apricots is shown by the orange line.

Q: How does each of the following events affects the monetary base, the money multiplier, and the money...

A: Introduction: The quantity of cash or currency in circulation in an economy is referred to as the mo...

Q: The figure shows the market for tires. According to the figure, the government collects per month in...

A: We can calculate the amount of revenue earned by the government by taxes with the following formula:...

Q: Price ($) 40 25 15 5 3\ Quantity 15 25 50 75 100 200 Refer to the graph above. Suppose that the gove...

A: The answer is - Option a. No surplus or shortage, only equilibrium.

Q: What are the advantages and disadvantages of globalization to the economy of the Philippines? Give 4...

A: GLOBALIZATION:            It is the spread of information,products,technology and jobs across nation...

Q: A sample of 60 observations will be taken from an infinite population. The population proportion equ...

A: Given that, Sample observations (n ) = 60 population proportion  (p) = 0.85