User Account

All Pages

Calculate the value of p for which demand is unit elastic

Assignment Help Business Economics
Reference no: EM133130039

The demand function is given by: Q: Y e' "'01P.

a) If Y = 800, calculate the value of P for which the demand is unit elastic.

b] If Y = 800. find the price elasticity of the demand at current price of 150.

c) Estimate the percentage change in demand when the price increases by 4% from current level of 150 and Y = 800.

Reference no: EM133130039

Questions Cloud

Compute kelly and fishers price index numbers for 2021 : Construct the cost-of-living index number for 2020 on the basis of 2018 from the given data. Advice a donor agency on what course action to take if the informa
Decreases the value of a documentary credit : An amendment decreases the value of a documentary credit. When should the credit facility amount be decreased accordingly?
Counterfeiting-digital piracy : Why is counterfeiting/digital piracy typically more prevalent in developing nations?
Compute the discount amount : An invoice has terms of 4/5, n/25. The invoice date is October 23. The invoice amount is $2,000. Compute the discount amount if paid on October 25
Calculate the value of p for which demand is unit elastic : The demand function is given by: Q: Y e' "'01P. a) If Y = 800, calculate the value of P for which the demand is unit elastic.
What conclusions can we draw from genesove : What conclusions can we draw from Genesove (1993) and the wider empirical literature (two otheracademic articles of your choice) about the existence of adverse
Compute depreciation expense : Compute depreciation expense for 2022 and 2023 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining-balance method
Explain company approach in situation : A company requires Rs. 5 crores for inventories, payment for the workers, need to maintain the bank balance, salaries to the employees and other variable costs
Optimal level of output for a firm : Can you explain what is the rule of production the , like Honda, using "limited" plant-specific resources to manufacture multiple lines of products that are pro

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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