Answer:
By the midpoint formula, his income elasticity of demand for pro football game tickets is equal to <u>+3</u>, and football game tickets are <u>normal</u> goods.
Explanation:
The formula for calculating income elasticity of demand using the midpoint method is:
income elasticity of demand = {change in quantity demanded / [(old quantity + new quantity) / 2]} / {change in income / [(old income + new income) / 2]}
= {2 / [(2 + 4) / 2]} / {10,000 / [(40,000 + 50,000) / 2]} = (2 / 3) / (10,000 / 45,000) = 0.67 / 0.222 = 3
when the income elasticity of demand is higher than 1, the goods are normal goods.
Answer:
Timeshare properties
Explanation:
Numerous individuals or families own a timeshare property. Each owner is allocated a specified duration of time to stay in the property. Timeshare properties are common in the tourism sector and are located near popular vacation destinations.
The most common forms of timeshare properties are vacation resorts, condominiums, apartments, and campgrounds.
Answer:
Answer for the question :
""The Athletic Department of Leland University is considering whether to hold an extensive campaign next year to raise funds for a new athletic field. The response to the campaigın depends heavily upon the success of the football team this fall. In the past, the football team has had winning seasons 60 percent of the time. If the football team has a winning season (W) this fall, then many of the alumnae and alumni will contribute and the cam- paign will raise $3 milion. If the team has a losing season (L), few will contribute and the campaign will lose $2 million. If no campaign is undertaken, no costs are incurred. On September 1, just before the football season begins, the Athletic Department needs to make its decision about whether to hold the campaign next year.
(a) Develop a decision analysis formulation of this problem by identifying the alternative actions, the states of nature, and the payoff table.
(b) According to Bayes’ decision rule, should the campaign be undertaken?
(c) What is EVPI? "
is explained in the attachment.
Explanation:
Answer:
The answer is within the greater Denver area
Explanation:
The greater Denver area is just a medium to low populated region, this region is just developing, the audience to receive this ads will be so small and not likely to generate a large volume.
Answer:
This statement is false. since the country that grows faster than its major trading partners can expect the international value of its currency to appreciate.
Explanation:
A country that grows faster than its major partners will expects the international value of its currency to rise. A growth in the economy generally means that the producing power of its economy is also growing. This means that this particular country will produce more of the goods and services in comparison to it's major trading partners. When this happens, it means that these countries will need to purchase more goods or services from this country.
In order to purchase goods or services from another country, one needs to exchange their currency for the other currency first before making the purchase. This means that the currency of the country with a faster growth will be bought more. If a currency is bought more, its value increases with the rate at which it is bought.
The trading partners will therefor need more of the currency of the country with the highest economic growth rate. This means that the demand for this currency on an international scale will be very high. A higher demand for a currency at an international level causes the international value to increase.
