subject
Business, 06.01.2021 17:50 misle

An individual has the following demand function for gasoline: QDGAS = 15-3PriceGAS + 0.02Income + 0.11PriceBT - 0.008PriceAUTO

Where income and car price are measured in thousands, and the price of bus travel is measured in average dollars per 100 miles traveled. Assuming the average automobile price is $22,000, income is $40,000, the price of bus travel is $25, and the price of gasoline is $30, calculate and interpret the income elasticity of gasoline demand and the cross price elasticity of gasoline demand with respect to the price of bus travel.

ansver
Answers: 1

Other questions on the subject: Business

image
Business, 22.06.2019 11:30, jacky852
On average, someone with a bachelor's degree is estimated to earn times more than someone with a high school diploma. a)1.2 b)1.4 c)1.6 d)1.8
Answers: 1
image
Business, 22.06.2019 23:10, wereallmadhere111
Amazon inc. does not currently pay a dividend. analysts expect amazon to commence paying annual dividends in three years. the first dividend is expected to be $2 per share. dividends are expected to grow from that point at an annual rate of 4% in perpetuity. investors expect a 12% return from the stock. what should the price of the stock be today?
Answers: 1
image
Business, 23.06.2019 00:30, msc1595
Oimpermeable peaeiremblm: a garment you put on when it's raining. eddepnieent: a sales person. rrgteeaa: to negotiate the price of an article. jcaa: a box where the sales person keeps the money of his/her sales. rbatoa: something inexpensive. zalu: the color of the sky. gfolasdaes (3 words): an object that protects your eyes from the sun.
Answers: 2
image
Business, 23.06.2019 03:00, drainy0uandthefish
Why is the type of product sold in an industry an important characteristic? a firm that can differentiate its product from that of rivals may be able to charge a higher price for a superior product. a firm that sells intangible goods is usually considered a monopoly. service industries cannot differentiate their products, which makes it easy for new firms to enter the industry. expensive products are usually sold by perfectly competitive firms.
Answers: 2
You know the right answer?
An individual has the following demand function for gasoline: QDGAS = 15-3PriceGAS + 0.02Income + 0...

Questions in other subjects:

Konu
Mathematics, 28.05.2021 21:20
Konu
Mathematics, 28.05.2021 21:20