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Q2) The demand function for a cola-type soft drink in general is q= 20 - 2P, where Q stand for quantity and P stands for price. a. Calculate point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points? b. Calculate arc elasticity at the interval between P = 5 and P = 6. c. At which price would a change in price and quantity result in approximately no change in the total revenue? Why? 3. ABC Sports, a store that sells various types of sports clothing and other sports items, is planning to introduce a new design of Arizona Diamondbacks' baseball caps. A consultant has estimated the demand curve to be Q = 2,000 - 100P where Q is cap sales and P is price. a. How many caps could ABC sell at $6 each? b. How much would the price have to be to sell 1,800 caps? c. Suppose ABC were to use the caps as a promotion. How many caps could ABC give away free? 5. Mr. Smith has the following demand equation for a certain product: Q = 30 - 2P. a. At a price of $7, what is the point elasticity? b. Between prices of $5 and $6, what is the arc elasticity? c. If the market is made up of 100 individuals with demand curves identical to Mr. Smith's, what will be the point and arc elasticity for the conditions specified in parts a and b?
Compute the equilibrium price and quantity. Describe why the output and price levels are different for X1 and X2. Explain what occurs to consumer surplus, producer surplus, and deadweight loss.
Identify the stocking rate that you would suggest to a risk averse farmer and explain why you would recommend this stocking rate.
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Using Minitab estimate the expected value of its profits and standard deviation of profits and calculate the expected value of returns of stock A & B
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part 1 - choice under uncertaintylet us assume that your utility function is given by u nbspradici . you have been
Write down any set of numbers. Calculate thier mean, and then the average deviation from the mean. c) Prov that, for every possible sample of n observations, the average deviation from the mean is exactly zero. Is this also true for deviations fro..
in this problem we are going to calculate real interest rates both ex-post and ex-ante. the data you need for this
expectations on how rivals will respond are important considerations when a firm decides to change the price it charges its customers, no firm controls more than a 10% share of the market
Deep global recession might trigger changes in expending from imported items to domestically manufactured items. What are at least two policies that governments might implement to increase expending on domestic items.
Insurance companies must provide insurance to drivers who may take risks that go unreported because they don't wreck or get ticketed (or if they do wreck or get ticketed, it goes unreported to the insurance company).
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