Formulate the Cross Elasticity of demand
Formulate the Cross Elasticity of demand?
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Cross elasticity of demand can be commutated by the given formula:
Cross Elasticity =
Proportionate alteration in Quantity demanded of a Commodity / Proportionate alteration in the Price of Related Commodity
When the cross elasticity is positive then the commodities are said to be substitutes and when cross elasticity is negative so the commodities are compliments. The substitute goods (as Coffee and tea) have positive cross elasticity since the increase in the price of tea may raise the demand of the coffee and the consumer may move from the consumption of coffee to tea.
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Boris operates a local landscaping company, needs each potential employee to lift a 200 pound tree before being hired whole-time. This obligation is an example of: (1) signaling. (2) discrimination. (3) screening. (4) derived demand. (5) automation. Q : Average wages for workers Average Average female wages are historically beneath the average for male workers due to: (w) concentration in low income occupations. (x) placement in low status job positions. (y) lower admission in professional schools and skilled trades.
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