Absolute value of the point elasticity of demand

Assignment Help Business Management
Reference no: EM132283816

The initial price for an item is $5.00, and the quantity demanded is 400 units. When the price is raised to $5.25, the quantity demanded falls to 350 units. The absolute value of the point elasticity of demand is _____.

Reference no: EM132283816

Questions Cloud

Finally find the maximum daily profit : Find the profit equation and determine the number of each type of printer that should be made each day to maximize profit. Finally find the maximum daily profit
Expression for the monopolist optimal quantity : a) Derive an expression for the monopolist's optimal quantity and price in terms of a, b, c, and e.
Develop and implement project plan : BSBPMG522 Undertake Project Work - Individual Project Plan Assignment. Develop and implement project plan. Defining the parameters of the project
Find gillette profit-maximizing price and quantity : Find Gillette's profit-maximizing price and quantity of output for the Mexican market overall. How will Gillette allocate production between its Mexican plant
Absolute value of the point elasticity of demand : When the price is raised to $5.25, the quantity demanded falls to 350 units. The absolute value of the point elasticity of demand is _____.
Inflation rate converges : What would the authorities need to decide to do with the unemployment rate so that the inflation rate converges
What is the annual rate of return associated : Suppose people with 15 years of schooling average earnings of $60,000 while people with 16 years of education average $66,000.
What is the ratio : Consider the income-expenditure identity in a closed economy, Y = C + I + G. Suppose consumption is always a fraction (mpc) of income such that C = mpc * Y.
Were there any issues with their logo or menus : When McDonald's began opening locations internationally, were there any issues with their logo or menus?

Reviews

Write a Review

Business Management Questions & Answers

  Conflict in values

how to deal with ethical issues that invariably come up in the course of the IT professional's work.

  Analyze an analysis of management leadership traits

Analyze an analysis of management leadership traits and leadership styles. Assess how those traits and styles may be impacting the company's culture.

  Implementing and managing a diverse organization

Describe the role of leadership in implementing and managing a diverse organization and then discuss three challenges of an increasing diverse staff and communi

  Zoe garcia is the manager of a small office support business

Zoe Garcia is the manager of a small office support business that supplies copying, binding, and other services for local companies. Zoe must replace a worn-out copy machine that is used for black and white copying. Two machines are being consi..

  What is the potential down side to this strategy

What is the potential down side to this strategy? Explain how your job satisfaction or dissatisfaction can be directly linked to the attitude of others. Provide an example from a job you currently have, or one you have had in the past.

  Briefly describe the tpm waterfall method

Discuss how a project approach is selected for different types of project. Provide an example by selecting an approach for one of the following projects, and explaining your rationale for the selection. Remember to focus on the project approach an..

  Describe your chosen company strategy

How has your chosen company performed against the common elements in successful strategies? Describe your chosen company's strategy in terms of competing in the present and preparing for the future

  How do firms create capabilities

What are capabilities? How do firms create capabilities? What four criteria must capabilities satisfy for them to become core competencies?

  Allocation of scarce medical services

The Allocation of Scarce Medical Services Discuss the implications of each the following systems:

  C program that prompts and gets two strings

Compare the two strings and print a statement to the console stating whether the two strings are equal.

  Form of business structure

Describe what form of business structure would be best for your new business and why.

  Describe traditional marketing experts and statisticians

Project teams are composed of students of theology, actors and musicians as well as the more traditional marketing experts and statisticians.

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