User Account

All Pages

What is the percent decline in sales

Assignment Help Microeconomics
Reference no: EM13338141

An auto dealership estimates that its demand curve has an elasticity of 2.78. If it wishes to increase sales by 12%, by how much should it decrease price? What will happen to revenue (rise or fall)? If instead it raises price by 20%, what is the percent decline in sales?

Reference no: EM13338141

Questions Cloud

What might have caused this change : Yesterday you were consuming 4 eggs and 2 strips of bacon. Today you are consuming 3 eggs and 3 strips of bacon. If you have the same taste what might have caused this change? Are you better or worse off?
How do you suppose the price-earnings ratio of these company : One roommate says that he buys stock only in companies that everyone believes will experience big increases in profits in the future. How do you suppose the price-earnings ratio of these companies compares to the price-earnings ratio of other compani..
Does the merger lead to a higher or a lower cournot : Suppose that P = 400 - 20Q and that there are 3 firms, each with a marginal cost of 30. Suppose that firms 2 and 3 merge. The merger allows the combined firm to lower its marginal cost to 20. Does the merger lead to a higher or a lower cournot equili..
Health expenditures in the u.s. have increased from : Health expenditures in the U.S. have increased from 5% of GDP to 17% of GDP over the past 50 years. List and explain the 3 reasons for this increase.
What is the percent decline in sales : An auto dealership estimates that its demand curve has an elasticity of 2.78. If it wishes to increase sales by 12%, by how much should it decrease price? What will happen to revenue (rise or fall)? If instead it raises price by 20%, what is the perc..
Response in relation to scarcity and in terms of the demand : One of the functions of price is to ration resources and goods and services. What do we mean when we say price serves as a rationing device? Elaborate your response in relation to scarcity and in terms of the demand and supply model
What is the size of the labor force : Suppose the number of employed people in an economy is 121,166,640. The unemployment rate in this economy is 10.4 percent, or .104, and the labor force participation rate is 72.5 percent, or .725.
Real gdp rose by what percent : Suppose nominal GDP in 2005 was $14 trillion, and in 2006 it was $15 trillion. The general price index in 2005 was 100, and in 2006 it was 103. Between 2005 and 2006, real GDP rose by what percent?
The size of the labor force in a community is : The size of the labor force in a community is 800, and 720 of these folks are gainfully employed. In this community, 200 people over the age of 16 do not have a job and are not looking for work

Reviews

Write a Review

Microeconomics Questions & Answers

  Recent economic crisis in the us

Describe the impact of the recent economic crisis in the U.S. on the automobile industry, with special reference to the operating costs and auto sales in the industry.

  How the economy productivity increases

Assume that total output is determined by the formula: number of workers × productivity = total output (output per worker) If an economy's productivity increases by 5 percent but the number of workers declines by 3 percent a year, how will the out..

  Explain the macroeconomic and microeconomic concepts

Microeconomics is considered to be the study of scarce resources. Here, customers must make allocation decisions. These 3-basic trade offs include which goods or services are to be manufactured,

  Intermediate microeconomics - budget constraint

Intermediate Microeconomics - Budget Constraint: Draw Alan's budget constraint with such promotional campaign.

  How well do punches of market satisfy properties of ideal

How well do punches of market satisfy properties of ideal money (durable, portable, divisible, uniform quantity, low opportunity cost, stable value)?

  One of the scarce resources that constrain our behavior is

How do you go about weighing the alternatives? Once you choose a most important use of time, why do you not spend all your time on it? Use the notion of opportunity cost in your answer.

  Computing the full economic price

Assume the market for natural gas can be explained by, Where P is the price of natural gas per million BTU, Q(D) is the quantity demanded and Q(S) is the quantity supplied of million BTUs of natural gas a day.

  Determination of demand and supply

Early this year, thousands of Americans flocked to Apple's outlets to purchase iPad 2 sold by iconic brand. Long queues snaked outside many of Apple's outlets dotted over the states.

  Restricting imports from other nations will save

Evaluate the statement: Restricting imports from other nations will save U.S. jobs. Include both advantages and disadvantages in you argument.

  Cost-volume-profit analysis

Write down a short memo to Ralph Sampson describing the analysis that the company should do before it makes this decision and any other considerations that would affect decision.

  How the aggregate demand multiplier influence a recession

What is the most likely component of aggregate demand to start a recession? How does the aggregate demand multiplier influence a recession?

  Productivity of the sheet metal workers

Explain carefully in terms of production theory why it might be that no amount of "cracking down" can increase worker productivity at CF&D.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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