Suppose that you are a staff economist with an economic consulting firm. the operator of a local harbor has commissioned your firm to do a market analysis of the demand for berths (parking spaces) for boats. your firm finds that the cross-price elasticity between berths and boat fuel is -2.15. you've just completed your study of elasticities and are asked to make a recommendation based on this information. if the price of boat fuel in the area increases by 4% with no change in the price of a berth, the quantity of berths that people demand will:

Following the formula

where  ΔX= changes in the quantity of berths

and  ΔY= changes in the price of fuel

The result is that after a 4% increase in the price of fuel, the quantity of berths will decrease in 8.6%.

Explanation:

Cross-Price Elasticity is the result of the division between the porcentual changes in quantity of the good X (in this case berths) against porcentual changes in the price of good Y (in this case the price of fuel). In this case they are complementary goods, and an increase in one will decrease the quantity of the other.

answer; the correct answer is (travel horizontally);

the median of the data is 4.

step-by-step explanation:

the median means the middle number of a given number.

to decide which one is the median, arrange in ascending or descending order. but sometimes, you may find two(2) number in the middle, but it's easy, just add them together and divide by 2.

so,   determine the median of the data. 2, 3, 3, 4, 5, 7, 9

it is already arranged, count 3 times forward and 3 backward and the one left is your answer.

2,3,3,4,5,7,9

our answer is 4.

hope this !