Elucidate how many units of the good are demanded

Assignment Help Business Economics
Reference no: EM1357665

Income is $80,000, and the price of the related good is $40. Also let consumers' tastes change so that consumers now demand 100 more units at each price. When the price of the good is $50, how many units of the good are demanded?

Reference no: EM1357665

Questions Cloud

Calculate average beta of the new stocks : A mutual fund manager has a 20 million dollar portfolio with a beta of 1.50. The risk-free rate is 4.50 percent, and the market risk premium is 5.50%. The manager expects to receive an additional $5 million which she plans to invest in a number of st..
Origins of communicable diseases : Describe different measures that were taken to contain or eradicate the disease and assess the role that was played by issues pertaining to water,
Adjusting journal entries for balance sheet accounts : Following are several December 31 account balances of Brookhaven Square, Inc. prior to the preparation of year-end adjusting journal entries: Briefly describe the nature of the adjusting journal entries for the accounts identified.
What is the impulse the bat delivers to the ball : A 0.144 kg baseball is pitched horizontally at +38 m/s and after it is hit by the bat it moves horizontally at -38 m/s.
Elucidate how many units of the good are demanded : Let customer's tastes change so that consumers now demand 100 more units at each price. When the cost of the good is $50, elucidate how many units of the good are demanded?
What maslow''s need hierarchy and alderfer''s erg explanation : Explain the major differences between Maslow's need hierarchy and Alderfer's ERG explanation of motivation.
Relationship between stress and depression : I need help with an explanation of the relationship between stress and depression, and what two factors of stress response that can influence the development of depression.
Strengths and weakness of charismatic leaders : What have been your experiences with this type of leadership? Be specific and discuss whether this is a style you would want to adopt. Why or why not?
Assume there is no friction : A 1650-kg car is traveling at 34 m/s. How fast must a 91 kg bicycle and rider be traveling to have the same kinetic energy as the car.

Reviews

Write a Review

Business Economics Questions & Answers

  Saying the marginal utility per dollar

The relative price rule is equivalent to saying the marginal utility per dollar is the same for both goods, or goods should be consumed in the same ra5tion as their relative price.

  Illustrate what is the value of the money multiplier

Illustrate what is the value of the money multiplier. What is the value of the nominal money supply. What are the nominal values of deposits, currency, and reserves.

  Per capita disposable income is expected to decrease

Suppose the economy is in a recession and per capita disposable income is expected to decrease by 5%, then what percentage effect on sales would you expect to take place.

  Sellers offer to rebate part of that expense to buyers

If buyers pay $8 per unit to the intermediary but sellers offer to rebate part of that expense to buyers.

  Total revenue function

Using this demand function, find the total revenue function. What is the shape of the total revenue function.

  Experienced recently affect your organization

Did the economic recession we've experienced recently affect your organization

  Advent of personal computers also word processing software

The advent of personal computers also word processing software which eliminated the market for electric typewriters would be an example

  Illustrate what has been happening to wheat prices

Illustrate what has been happening to wheat prices and what is likely to happen to wheat prices over the coming months.

  Elucidate why the return to deficit spending

Elucidate why the return to deficit spending since the turn of the century.

  Some of the ways firms attempt to control their costs

Name some of the ways firms attempt to control their costs. Explain Name some of the ways firms attempt to control their costs. Explain how does your firm control costs.

  Businesses create value by integrating the production

Explain how businesses create value by integrating the production and distribution of goods, services, and information.

  Compute the price elasticity of demand when price changes

Compute the price elasticity of demand when price changes from $100 to $80 per pair using the average formular.

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