1. In this question, you'll have to solve for price elasticity of demand using the percent change formula.
When the old price of a food package was $6.92 per package, the old quantity was 822 packages were sold each day. After the price increased to the new price $10.05 per package, sales dropped to a new quantity of 449 packages per day. Using these numbers, what is the price elasticity of demand for food packages? Round your answer to 3 decimal places.
2. In this question, you'll deal with two goods, and you'll have to solve for cross-price elasticity using the percent change formula.
2A. When the old price of a file cabinet was $1,333 per cabinet, an old quantity of 227 desks were sold. After the price decreased to a new price of $935 per file cabinet, a new quantity of 426 desks were sold. Using these numbers, what is the cross-price elasticity of file cabinets for desks? Round your answer to 3 decimal places.
2B. Based on your answer to the above question, what is the relationship between file cabinets and desks?
A. substitutes
B. complements
C. unrelated goods
Dave's income increases by 23%. As a result, his consumption of burritos increases by 31%.
3A. What is Dave's income elasticity for burritos? Round your answer to three decimal places.
3B. Consider your answer for the previous question. Dave considers burritos to be
A. a normal, necessity good
B. a normal, luxury good
C. an inferior good
D. a substitute good
E. a complement good
F. a sunk cost
4. The price of a combo meal at Lion Restaurant is $5.
When Axel had an old income of $12,000 his old demand for combo meals was Q = 200 - 4P.
When Axel had a new income of $24,000 his new demand for combo meals was Q = 560 - 4P.
What is Axel's income elasticity for combo meals at Lion Restaurant? Round your answer to 2 decimal places if necessary.
In: Economics
If the USA continues to increase its federal budget deficit, what effect will this have on the U.S. dollar and why? What will be the effect on the balance of trade and why? Explain.
In: Economics
Linked List-Based Queue Sketches
In this section you will sketch several linked list-based queues. Hint: Recall that a proper sketch of a linked list-based queue is just a series of boxes with elements inside.
2, 3, 4
Sketch the linked list-based queue that results from the following operations:
Default constructor (create empty)
Add(2)
Add(3)
Add(4)
? Replace this with your sketch
Add and Remove
Sketch the linked list-based queue that results from the following operations:
Default constructor (create empty)
Add(2)
Add(3)
Add(4)
Remove()
? Replace this with your sketch
In: Computer Science
what is the effect of transportation sector in corona virus
In: Economics
a dentist wants to find out the average time taken by her hygienist for x rays and clean teeth for patients. she recorded the time to serve 24 randomly selected patients . construct a 99% confidence interval for the average time taken
Time | |
36.80 39.80 38.60 38.30 35.80 32.60 38.70 34.50 37.00 32.00 40.90 33.80 37.10 31.00 35.10 38.20 36.60 38.80 39.60 39.70 35.10 38.20 32.70 40.50 |
In: Math
a) Write out the equation that describes the Quantity Theory of Money. Must indicate clearly what each variable in the equation means in order to earn full marks . Based on the equation, predict what would happen to inflation in the long run:
b). if the growth rate of the velocity of money is zero and money supply grows at a faster rate than real GDP growth rate. You may use some hypothetical numbers to illustrate your answer (1.5 marks)
c). if the growth rate of the velocity of money is zero and money supply grows at a slower rate than real GDP growth rate. Use some hypothetical numbers to show (1.5 marks) d). Based on these two scenarios (b and c) and the quantity theory of money as stated in this question, what would be a good monetary policy for the economy in the long run?
In: Economics
In: Economics
C. Reflection on the Negotiation Process (1,000 words) [10 marks] 1. Mistakes during negotiations 2. Negotiation techniques learnt 3. Future improvements.
In: Civil Engineering
Case Quetion: You are the CEO of a 500- employee organization, which manufactures coats and jackets (winter fleece, dress wool and light rain wear for U.S.market. what organizational structure( functional,product,geographic, customer or hybrid)will you select, and why
1-Explain 4 reason
2-how will you utilize or integrate the matrix structure into you organization design?Explain.(1-point)
In: Operations Management
In: Economics
Mean number of desks produced per week is 42 and population standard deviation is 4.67. the company has introduced new production methods. A random sample of 12 weeks production indicates 44 desks were produced each week. has the introduction of new production methods increased average number of desks produced each week at .05 significance level. Estimate the 95% confidence interval
In: Math
In: Economics
Based on Chapter 8, Reading 23 titled "Unequal Childhood- Class, Race and Family Life" (Page 306) of book Family in Transition 15th Edition by Skolnick & Skolnick
Q. Discuss some of the preconceptions regarding family life in America and why the family is theoretically significant.
The pdf of book is available free at
https://1drv.ms/b/s!Aq4Y5j0NgDNugSM0_lnXdbap4wwn
In: Psychology
Describe the steps from the time Bank of Canada lowers the bank rate to the time real GDP and the price level will increase or decrease. In order to earn full marks, each description must fit the correct order of the steps.
In: Economics
1. ABC Inc., a mid-sized company in Toronto, Ontario, wants to ensure that its pay systems are internally equitable, gender-neutral, and externally competitive. The CEO, who believes the organization’s compensation system can help it achieve its goals, has hired you to re-design the base pay for the jobs in the organization. The company has about seventy jobs (Marketing, Sales, Finance, HR, and other administrative jobs), some of which are predominantly male and female jobs. Currently, all base pays of the employees were established based on what the candidate asked for and the CEO’s/HR Manager’s limited understanding of the market. Using a point-method job evaluation system and guidelines of Ontario Pay Equity Legislation, discuss in detail how you would go about establishing a base pay for XYZ Inc. which is internally equitable, gender-neutral, and externally competitive.
In: Operations Management