Answer:
Cross price elasticity using midpoint method = 0.56
Step-by-step explanation:
Using the mid-point method
Cross-price Elasticity of Demand = <u>% change in Quantity demanded of UPS</u>
% change of price of FedEx
%change in Quantity demanded of UPS
using Mid-point method = <u> Q2-Q1 </u> × 100
(Q1+Q2)÷ 2
= <u>1.3-1.2 </u> × 100
(1.2+1.3)÷2
= <u>0.1 </u> × 100
1.25
= 8%
% change in price of FedEx
using midpoint method =<u> P2-P1 </u>× 100
(P1+P2)÷ 2
=<u> 75-65 </u>× 100
(65+75)÷2
=<u> 10 </u> × 100
70
= 14.28%
Cross-price Elasticity of Demand = 8% ÷ 14.28%
using midpoint method = 0.56
m<TSU=85°
please see the attached picture for full solution
hope it helps..
Good luck on your assignment...
If it's -34*0 then it is equal to 0 because anything times 0 is 0.
If it were -34.67 to the power of 0, then It would have been equal to -1. This is because anything to the power of 0 is 1. In this case though the base is negative so it would be -1.
But the answer is 0.
Make is a proportion
6/18=28/x
Cross multiply
18•28=6•x
504=6x
x=84