Suppose that the demand for water balloons fit the function D(p,ps)= .2 p-0.5ps-0.2; where p is the
Question:
Based upon this demand curve, are super soakers a compliment or a substitute for water balloons? Demonstrate why.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 72% (18 reviews)
They will be called complement of each other if demand for one item leads to dema...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Suppose that the demand for real money balances depends on disposable income. That is, the money demand function is M/P = L(r, Y T). Using the ISLM model, discuss whether this change in the money...
-
The demand for water use in Phoenix in 2003 hit a high of about 442 million gallons per day on June 27,2003. Water use in the summer is normally distributed with a mean of 310 million gallons per day...
-
For the Outsourcing Decision Model, suppose that the demand volume is lognormally distributed with a mean of 1,500 and a standard deviation of 500. What is the distribution of the cost differences...
-
Hansel Electronics has the following: If Hansel has 7,000 units on hand at December 31, the cost of ending inventory under the average-cost method is: (a) $84,000. (b) $70,000. (c) $56,000. (d)...
-
Show the planes and centers of symmetry (if any) in each of the following achiral objects. (a) The methane molecule (b) The ethylene molecule (c) The c/s-2-butene molecule (d) The staggered...
-
Page 205 shows a work sheet for Megaffin's Repairs. No additional investments were made by the owner during the month. REQUIRED 1. Prepare an income statement. 2. Prepare a statement of owner's...
-
The statement of cash flows for Digital Business Ltd follows. Required (a) Explain the information that would be presented in Note 20 of Digital Business Ltds financial statements. (b) Explain the...
-
The grantor, G, was an 80% partner in a partnership. G lent the partnership money for construction financing and received a promissory note on market terms. G conveyed the note to a 10-year...
-
Hazelnut Corporation manufactures lawn ornaments. It currently has two product lines, the basic and the luxury. Hazelnut has a total of $142,860 in overhead. The company has identified the following...
-
A British computer firm is acquiring a smaller competitor located in Frankfurt. What are two likely differences in the way these two firms carry out the decision making process? How could these...
-
Antitrust authorities at the Federal Trade Commission are reviewing your companys recent merger with a rival firm. The FTC is concerned that the merger of two rival firms in the same market will...
-
Suppose that the current price of oil is $60 per barrel and the quantity sold is 90 million barrels per day. Assume that the supply and demand curves for oil are linear. The current estimates of the...
-
What is the link between brand names and competitive advantage?
-
Promoting respect for universal human rights is a central dimension of many countries foreign policy. As history has shown, human rights abuses are an important concern worldwide. Some countries are...
-
A manager from a developing country is overseeing a multinationals operations in a country where drug trafficking and lawlessness are rife. One day, a representative of a local big man approaches the...
-
At 3:50 a.m. on March 2, 2018, Donald Trump, the 45th President of the United States, took to his favorite medium, Twitter, to espouse his views on an important policy issue: international trade. He...
-
Reread the Country Focus Chinas Exchange Rate Regime, and then answer the following questions: a. Why do you think that the Chinese historically pegged the value of the yuan to the U.S. dollar? b....
-
Between 2015 and early 2018, the Chinese currency, the yuan, fluctuated significantly in value against the U.S. dollar, giving Chinese businesses an object lesson in the importance of managing for...
-
Compare the behavior of the quiet and active Sun. What is the solar constant?
-
Does log 81 (2401) = log 3 (7)? Verify the claim algebraically.
-
What is performance appraisal? What are its objectives?
-
The following selected transactions were taken from the records of Burrito Company for the year ending December 31, 2010: Mar. 13. Wrote off account of B. Hall, $4,200. Apr. 19. Received $3,000 as...
-
During its first year of operations, Master Plumbing Supply Co. had net sales of $3,500,000, wrote off $50,000 of accounts as uncollectible using the direct write-off method, and reported net income...
-
Isner Company wrote off the following accounts receivable as uncollectible for the first year of its operations ending December 31, 2010: Customer Amount L. Hearn $10,000 Carrie Murray 9,500 Kelly...
-
1. Raman purchases a motor car from Bharathan whose cash price is Rs. 56,000 on 11.93. Rs. 15,000 is paid on signing the contract and the balance is to be paid in three equal annual instalments of...
-
Write a function that takes in a value x, a value el, and a list and adds as many el's to the end of the list as there are x's in the list. Make sure to modify the original list using list mutation...
-
Our office building has a total square footage of 120,000 square feet.We have 9 tenants in the building and no vacancies.The total square footage of the tenant spaces is 105,000.A) What is the Load...
Study smarter with the SolutionInn App