Own price, Px = $30 Price of a related good, Py = $4 Quantity demanded = 24.75 Price of a related good, Pz = $275 Consumer income, Y = $20 comma 000 The income elasticity of demand 'xi', when equilibrium quantity is 24.75 units and income is $20 comma 000, is equal to . 808 (enter your response rounded to three decimal places). In this case the good is:

Xinhong company is considering replacing one of its manufacturing machines. the machine has a book value of $39,000 and a remaining useful life of 5 years, at which time its salvage value will be zero. it has a current market value of $49,000. variable manufacturing costs are $33,300 per year for this machine. information on two alternative replacement machines follows. alternative a alternative b cost $ 115,000 $ 117,000 variable manufacturing costs per year 22,900 10,100 1. calculate the total change in net income if alternative a and b is adopted. 2. should xinhong keep or replace its manufacturing machine