Price elasticity of demand

Assignment Help Business Management
Reference no: EM132199673

The demand curve is Qd = 200 - ¼ P. Calculate the (point) price elasticity of demand when price is $24. Is demand elastic or inelastic?

Reference no: EM132199673

Questions Cloud

What is the market price of the bond : There is an 8%, 25 year bond which was issued 5 years ago. If the market rates of interest are 2%, what is the market price of the bond
Briefly describe the technologies : Research Report - Compare and contrast the two technologies: what are their good points and (more interestingly) their bad points or weaknesses
Derive the marginal revenue curve for the firm : The David Company's demand curve for the company's product is P = 2,000 - 20Q, where P = price and Q = the number sold per month.
Land available to raise apples and beets : A farmer has 150 acres of land available to raise apples and beets.
Price elasticity of demand : The demand curve is Qd = 200 - ¼ P. Calculate the (point) price elasticity of demand when price is $24. Is demand elastic or inelastic?
Determine the effectiveness of your change : In order to evaluate an evidence-based practice project, it is important to be able to determine the effectiveness of your change.
Explain instructions on when to involve human resources : Explain instructions on when to involve Human Resources. Develop rules regarding merit increases in relation to disciplinary action.
Business decisions in the financial industry : How does the regulatory environment affect business decisions in the financial industry?
What increase in revenue growth is necessary : The plan would cost $200,000 per year for the each of the first four years of operations. What increase in revenue growth is necessary to justify such a plan

Reviews

Write a Review

Business Management Questions & Answers

  Illustrate what would be adequate

Explain why do you suppose the author believes that administrative databases are not adequate to assess quality of care outcomes? Illustrate what would be adequate? Explain and give an example

  Which one do you think would work best for you

What systems does your organization utilize, either as a whole or per department? Is this solution effective? Why or why not? Is there a solution that would be more effective? If not, explain why.

  Organisational or social trend for development of hr policy

In approximately 500 words, analyse the implications of your chosen organisational or social trend for the development of HR policy.

  Satisfaction or preference for various amounts

John Doe is a rationale person whose satisfaction or preference for various amounts of money can be expressed as a function U(x) = (x/100)2, where x is in $. How much satisfaction does $40 bring to John?

  Administer a procured project or process

A project manager and a contract manager are both needed to administer a procured project or process. If you were the project manager, how would you work with a contract manager to ensure a successful procurement?

  Nature of various threats-opportunities confronting

What are the nature of various threats and opportunities confronting the Economist, including their severity and the urgency to act.

  Describe two or three of the more important technologies

Describe two or three of the more important technologies or business information systems used in your organization, or in one with which you are familiar.

  How you will manage business in order to realize vision

You will describe vision; mission also type of structure your business will take. In addition, describe, as leader, how you will manage business in order to realize vision also achieve optimal performance.

  Important step in decision making process

Therefore the step of selecting desired alternative is the most important step in decision making process". Do you agree this statement?

  Select a motivational theory

From the following list, select a motivational theory that you would be most likely to apply as a manager.

  Formula for the optimal markup of price over cost

Solve for P as a function of MC and ?. This will give you a formula for the optimal markup of price over cost.

  What is thr worst case number of combinations

A thief is upto an electornic lock with 10 digit keypad and he notices that all but three of the keys are covered in dust while the 2,4,6, and 8 keys shows considerable wear. He this can satisfy assume that the 4 digit code that opens the door must b..

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