Instructions: Enter your responses as percentages. Include a minus (-) sign for all negative answers. a. The price of good X decreases by 6 percent. percent b. The price of good Y increases by 8 percent. percent c. Advertising decreases by 4 percent. percent d. Income increases by 5 percent.

COMPLETE QUESTION:

Suppose the own price elasticity of demand for good X is -3, its income elasticity is 1, its advertising elasticity is 2, and the cross-price elasticity of demand between it and good Y is -4. Determine how much the consumption of this good will change if: Instructions: Enter your answers as percentages. Include a minus (-) sign for all negative answers.

a. The price of good X decreases by 5 percent.

b. The price of good Y increases by 8 percent.

c. Advertising decreases by 4 percent.

d. Income increases by 4 percent.

ANSWER

a) The quantity demanded of good X will change by 15 percent

b) The demand for X will change by -32 percent.

c) The demand for good X will change by -8 percent

d) The demand of good X will change by 4 percent

Step-by-step explanation:

Price elasticity of demand measures how responsive  quantity demanded is to a change in the  price of  a commodity.

price elasticity = .    

Note:  Same applies to income,advertising and cross-price elasticity.

where, P is the price of the demanded good and Q is the quantity of the demanded good and dQ and dP are the changes in quantities of demanded goods and prices respectively.

a) Quantity demanded on goods X due to decrease by 5 percent in price is ;

-3 =     , therefore  percentage increase in quantity of goods demanded is  (-3 x -5) = 15 percent

b) Cross- Price Elasticity; Quantity demanded on goods X due to increase by 8 percent in price in goods Y is;

-4 =   , therefore percentage decrease in quantity of goods demanded is  (-4 x 8) = -32 percent

c)  Advertising Elasticity ; Quantity demanded on goods X due to decrease  by 4 percent in advertising is;

2 =   , therefore percentage decrease in quantity of goods demanded is  (2 x -4) = -8 percent

d) Income Elasticity ; Quantity demanded on goods X due to increase by 4 percent in income is;

1 =   , therefore percentage increase in quantity of goods demanded is   (1 x 4) = 4 percent

-3.5 degrees per hour

step-by-step explanation:

find the unit rate:

-12   1/4 degrees           12.25 degrees

= - = -3.5 degrees per hour

      3   1/2 hours               3.5 hours

step-by-step explanation:

one day the were 5 ducks, and their king told them to multiply their kingdom. so each went their own seperate way and met 4 other ducks on their journey.

when the ducks returned to their kingdom, it was discovered that there were 5 groups of 5 ducks. when the kind counted the number of ducks in total (including the ones he sent out earlier) he counted 25.

therefore 5 times 5 is 25.

the end. : )