Calculate quantity demanded when its price

Assignment Help Business Management
Reference no: EM131233005

Consider the following demand equation:

Q = 206 - 15p - 10po + 0.18Y

Here p is the price of the good, po is the price of a related good, and Y is income.

If we assume the price of the related good is held fixed at $10 and that income is held fixed at $40,000, calculate quantity demanded when its price is $2. Round your answer to the nearest whole number as needed; carefully follow all other numeric instructions.

Reference no: EM131233005

Questions Cloud

If the free market set wage rates : If the free market set wage rates, what would the likely outcome in regards to the unemployment rate be exhibited?
Identify the potential adverse issues : It is essential that when embarking on a project, a detailed investigation is undertaken to identify and maximise the potential benefits, to identify the potential adverse issues as early as possible, and to incorporate measures to mitigate their ..
Income-expenditure model : In Keynes' Income-Expenditure Model, all points along the AS curve have something in common. What do they have in common?
Explain what you found interesting surprising or confusing : Reflect on what you found interesting, surprising, or confusing in this past week. Did anything that you learned cause you to understand an issue and event differently?
Calculate quantity demanded when its price : If we assume the price of the related good is held fixed at $10 and that income is held fixed at $40,000, calculate quantity demanded when its price is $2. Round your answer to the nearest whole number as needed; carefully follow all other numeric..
Competing in the commercial airline market : Suppose two firms, Southwest Airlines and United Airlines, are competing in the commercial airline market in which downstream buyer preferences are identical. Suppose United Airlines charges some positive price for a major corporation to sign an a..
Important that prices are flexible in our economy : Explain why it is important that prices are flexible in our economy? What are the implications if the government started to control prices for products, how would this influence buying?
Despite the decrease in aggregate demand : During the Great Recession of 2008-2010, despite the decrease in aggregate demand, the price level was essentially stable. Which of the following is a reason for this?
Discuss life of working-class women in antebellum new york : Discuss the life of working-class women in antebellum New York. How did cities shape the lives of women? What challenges did women face in the industrializing metropolis?

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd