### Calculate an own-price elasticity

Assignment Help Microeconomics
##### Reference no: EM13854828

Demand function Q=101603.210745184-16.269.7144609901*P+1.44286043518601*A

(1) Using the estimated demand equation, calculate an own-price elasticity.

(2) Discuss the meaning of the obtained own-price elasticity. Is it elastic? Inelastic?

#### Calculate price that you think will make business break even

Take a small company to be established and construct a cost revenue analysis to see how feasible the project could be? Divide your cost of production into fixed and variable

#### Draw a diagram and find out equilibrium price and quantity

Draw a diagram and find out the equilibrium price and quantity. Suppose the government sets a price ceiling of \$11. What will be the effect of such a policy: a shortage or a

#### What if the relevant market is all types of fruit

Suppose that there are only three types of fruit sold in the United States. Annual sales are 1 million tons of blueberries, 5 million tons of strawberries, and 10 million tons

#### Is she better or worse off when given a rebate equal to the

Suppose the income elasticity of demand for food is 0.5 and the price elasticity of demand is -1.0. Suppose also that Felicia spends \$10,000 a year on food, the price of food

#### Compute the effective annual interest rate

Compute the effective annual interest rate 10% nominal interest compounded semiannually, 10% nominal interest compounded quarterly, 10% nominal interest compounded weekely.

#### Describing new concept

Write a paragraph (minimum) describing new concept(s), terms or ideas that you learned from this week's reading. For the purpose of this quiz, a submission must be at least 25

#### How and why does it differ from the original is curve

According to the life-cycle / permanent-income hypothesis, consumption depends on the present discounted value of income. An increase in the real interest rate will make fut

#### Who had largely replaced keynesian views

By the 1950s, the views of the Classical economists among American economists: had been largely eclipsed by Keynesian views. had largely replaced Keynesian views. were about