Question

I assume that the price of a car is constant and that 30 cars are sold per month in a small town. On the other hand, the price of gasoline rises from 15 to 20 pesos per liter, there is no other factor that influences the purchase plans and the number of cars sold drops to 28 per month. a) What is the cross elasticity of demand for cars with respect to gasoline? b) According to the previous section, are cars considered a substitute or complementary good for gasoline?

52

likes
259 views

Answer to a math question I assume that the price of a car is constant and that 30 cars are sold per month in a small town. On the other hand, the price of gasoline rises from 15 to 20 pesos per liter, there is no other factor that influences the purchase plans and the number of cars sold drops to 28 per month. a) What is the cross elasticity of demand for cars with respect to gasoline? b) According to the previous section, are cars considered a substitute or complementary good for gasoline?

Expert avatar
Miles
4.9
99 Answers
Necesitamos encontrar la elasticidad cruzada de la demanda de los autos con respecto a la gasolina. La fΓ³rmula para la elasticidad cruzada es:

E_{A,G} = \frac{\Delta Q_A / Q_{A\text{original}}}{\Delta P_G / P_{G\text{original}}}

Donde:
- \Delta Q_A es el cambio en la cantidad demandada de autos.
- Q_{A\text{original}} es la cantidad original demandada de autos.
- \Delta P_G es el cambio en el precio de la gasolina.
- P_{G\text{original}} es el precio original de la gasolina.

Primero, calculamos los cambios:

\Delta Q_A = 28 - 30 = -2
Q_{A\text{original}} = 30
\Delta P_G = 20 - 15 = 5
P_{G\text{original}} = 15

Ahora, sustituimos en la fΓ³rmula de elasticidad cruzada:

E_{A,G} = \frac{(\frac{-2}{30})}{(\frac{5}{15})}

E_{A,G} = \frac{-\frac{2}{30}}{\frac{5}{15}}

E_{A,G} = \frac{-\frac{2}{30}}{\frac{1}{3}}

E_{A,G} = -\frac{2}{30} \times \frac{3}{1}

E_{A,G} = -\frac{6}{30}

E_{A,G} = -\frac{1}{5}

Los autos y la gasolina se consideran bienes complementarios porque la elasticidad cruzada es negativa.

El resultado final en formato simplificado es:
a) E_{A,G} = -\frac{1}{7}

b) Complementario

Frequently asked questions (FAQs)
What is the equation of an exponential function that has a horizontal asymptote at y = 2 and passes through the point (3,8)?
+
What is the maximum value of the function f(x) = 2x^2 + 5x - 3 on the interval [-1, 3]?
+
What is the limit of (x^2 + 3x) / (2x - 1) as x approaches 2?
+
New questions in Mathematics
1 + 1
2+2
Consider the relation R defined on the set of positive integers as (x,y) ∈ R if x divides y. Choose all the true statements. R is reflexive. R is symmetric. R is antisymmetric. R is transitive. R is a partial order. R is a total order. R is an equivalence relation.
STUDENTS IN A CLASS LEARN ONLY ONE FOREIGN LANGUAGE. two-sevenths of the students learn German, half of the students learn Spanish, and the remaining six students learn Italian. what is the number of students in this class? detail your reasoning carefully.
If L = (-2, -5) is reflected across y= -4 , what are the coordinates of L?
Express the following numbers in decimal system, where the subscript indicates the base: 110101 (SUBINDEX=2)
solve the following trigo equation for 0Β°<= x <= 360Β°. sec x =-2
224 Γ— (6Γ·8)
What is 28 marks out of 56 as a percentage
Three squares have a total area of 35.25 π‘π‘š2 . The larger square has twice the side-length of the middle-sized square. The smaller square has its side length exactly 0.5 cm smaller than the middle-sixed square. Find the side lengths of each of the three squares.
If a two-branch parallel current divider network, if the resistance of one branch is doubled while keeping all other factors constant, what happens to the current flow through that branch and the other branch? Select one: a. The current through the doubled resistance branch remains unchanged, and the current through the other branch decreases. b. The current through the doubled resistance branch decreases, and the current through the other branch remains unchanged. c. The current through the doubled resistance branch increases, and the current through the other branch remains unchanged. d. The current through both branches remain unchanged.
From 1975 through 2020 the mean annual gain of the Dow Jones Industrial Average was 652. A random sample of 34 years is selected from this population. What is the probability that the mean gain for the sample was between 400 and 800? Assume the standard deviation is 1539
Let x be an integer. Prove that x^2 is even if and only if is divisible by 4.
2x-5-x+2=5x-11
Find the equation of a straight line that has slope 3 and passes through the point of (1, 7) . Write the equation of the line in general forms
To paint a 250 m wall, a number of workers were employed. If the wall were 30 m longer, 9 more workers would be needed. How many were employed at the beginning?
t+72/t=-17
I have a complex function I would like to integrate over. I can use two approaches and they should give the same solution. If I want to find the contour integral βˆ«π›Ύπ‘§Β―π‘‘π‘§ for where 𝛾 is the circle |π‘§βˆ’π‘–|=3 oriented counterclockwise I get the following: ∫2πœ‹0𝑖+3π‘’π‘–π‘‘βŽ―βŽ―βŽ―βŽ―βŽ―βŽ―βŽ―βŽ―βŽ―βŽ―βŽ―βŽ―βŽ―βŽ―βŽ―βŽ―βŽ―π‘‘(𝑖+3𝑒𝑖𝑑)=∫2πœ‹03𝑖(βˆ’π‘–+3π‘’βˆ’π‘–π‘‘)𝑒𝑖𝑑𝑑𝑑=18πœ‹π‘– If I directly apply the Residue Theorem, I would get βˆ«π›Ύπ‘§Β―π‘‘π‘§=2πœ‹π‘–Res(𝑓,𝑧=0)=2πœ‹π‘–
Solve the system of equations by the addition method. 0.01x-0.08y=-0.1 0.2x+0.6y=0.2
In an experiment to assess the effect of listening to audiobooks while driving, participants were asked to drive down a straight road in a driving simulator. The accompanying data on time (in milliseconds) to react when a pedestrian walked into the street for 10 drivers listening to an audiobook are consistent with summary statistics and graphs that appeared in the paper "Good Distractions: Testing the Effect of Listening to an Audiobook on Driving Performance in Simple and Complex Road Environments."† (Round your answers to four decimal places.) 1,018 1,007 1,054 988 937 1,030 1,065 1,011 860 1,106 A button hyperlink to the SALT program that reads: Use SALT. Calculate the variance for this data set. 7437.7333 Incorrect: Your answer is incorrect. Calculate the standard deviation for this data set. 86.2022 Incorrect: Your answer is incorrect.