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
114 Answers
Necesitamos encontrar la elasticidad cruzada de la demanda de los autos con respecto a la gasolina. La fórmula 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 fórmula 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 value of 'a' in the parabola function 𝑦 = ax^2 if the vertex is (-2, 5) and it passes through the point (1, 2)?
+
What is the prime factorization of the mixed number 3⅔?
+
Question: Find the derivative of f(x) = sin(3x^2 - 2x) + ln(x^3 + 1) - e^(2x) with respect to x.
+
New questions in Mathematics
Find two natural numbers whose sum is 230 and their difference is 10. Set up the system and solve it.
-11+29-18
what is 456456446+24566457
Suppose the horses in a large they will have a mean way of 818 pounds in a variance of 3481. What is the probability that the mean weight of the sample of horses with differ from the population mean by more than 18 pounds is 34 horses are sampled at random from the stable.
"If three wolves catch three rabbits in three hours, how many wolves would it take to catch a hundred rabbits in a hundred hours?" The answer is the number of response units.
(2b) to the 1/4th power. Write the expression in radical form.
find all matrices that commute with the matrix A=[0 1]
The cost of unleaded gasoline in the Bay Area once followed an unknown distribution with a mean of $4.59 and a standard deviation of $0.10. Sixteen gas stations from the Bay Area are randomly chosen. We are interested in the average cost of gasoline for the 16 gas stations. 84. Find the probability that the average price for 30 gas stations is less than $4.55. a 0.6554 b 0.3446 c 0.0142 d 0.9858 e 0
4x + 8y = 5 2x + 4y = 10
calculate the area in square units of A rectangle with length 6cm and breadth 5cm
Log5 625
The price per night of a suite at the Baglioni Hotel in Venice is 1896 euros, VAT included. The VAT in Italy is 25%. The hotel gets a return of 10% out of the price VAT included. a) What is the amount of VAT paid by the hotel for one
In the telephone exchange of a certain university, calls come in at a rate of 5 every 2 minutes. Assuming a Poisson distribution, the average number of calls per second is: a) 1/8 b) 1/12 c) 1/10 d) 2/5 e) 1/24
sum of 7a-4b+5c, -7a+4b-6c
At the end of a lively discussion within your study group, your class neighbor, for the relevance of your points of view, asks your opinion on the subject of their debate which is the following question Am I the slave of my unconscious? Solve the problem posed by this subject in an argumentative production.
If sin A=0.3 and cos A=0.6, determine the value of tan A.
Gender and communication : Answer the question ( 1 paragraph is ok) . Please can you write about women? Compared to your other identities, how much of a role does gender play in your life? And has your own sex/gender offered you privileges or disadvantages? How so?
Write the inequality in the form of a<x<b. |x| < c^2
calculate the product of 4 and 1/8
Today a father deposits $12,500 in a bank that pays 8% annual interest. Additionally, make annual contributions due of $2,000 annually for 3 years. The fund is for your son to receive an annuity and pay for his studies for 5 years. If the child starts college after 4 years, how much is the value of the annuity? solve how well it is for an exam