Suppose tinsel town videos lowers the price of its movie club membership by 10 percent and as a result, cinearts videos experienced a 16 percent decline in its movie club membership. what is the value of the cross- price elasticity between the two movie club memberships

The value of cross price elasticity is 1.6.

Step-by-step explanation:

Since we have given that

Percent change in price = 10%

Percent change in quantity = 16%

So, we need to find the cross price elasticity between the two movie club memberships.

As we know the formula for cross price elasticity :

Hence, the value of cross price elasticity is 1.6.

what is the graph

step-by-step explanation:

step-by-step explanation:

12: 00 p.m. to 7: 00 p.m. is a total of 7 hours.

4: 00 p.m. to 7: 00 p.m. is a total of 3 hours.

this means that from 4: 00 p.m to 7: 00 p.m. this represents 3/7 of what was lost from 12: 00 p.m. to 7: 00 p.m.

after knowing this, after doing 11,600 - 6,800 = 4,800

4,800 represents 3/7 of what was lost for 7 hours.

we then divide 4,800 by 3 which gets 1,600.

because we know that 1,600 represents 1/7 of how much water was lost, we just have to multiply by 7, which gets 11,200.   after adding 11,200 to how much water was left at 7: 00 p.m. which was 6,800. 11,200 + 6,800 = 18,000

this means that the pool originally had 18,000 gallons in the pool.

you can also check your work by doing 18,000 - 4(1600), which becomes           1800 - 6400 which gets you 11,600.