Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Applications of the price elasticity of demand
1) Why do you think that whenever the government wants to increase their revenue they usually decide to increase the tax on items such as gas, tobacco products and/or alcohol?
2) Why is it unlikely that a firm would sell at a price where its demand curve happens to be price inelastic?
3) Assume the demand for cosmetic or plastic surgery is price inelastic. Are the following statements true or false? Explain.
a. when the price of plastic surgery increases, the number of operations decreases.b. the percentage change in the price of plastic surgery is less than the percentage change in quantity demanded.c. changes in the price of plastic surgery do not effect the number of operationsd. quantity demanded is quite responsive to changes in pricee. if more plastic surgery is performed, expenditures on plastic surgery will decrease.f. the marginal revenue of another operation is negative.
Recently, a troubled bank borrowed $800 million from the Federal Reserve. Describe the impact this event had on the monetary base.
Suppose that a competitive industry is in long Run competitive equilibrium. Then the price of substitute good (in consumption) decreases. What will happen to the short run to
Consider the table below the supply schedules for three competitive firms, each producing honey. These three firms make up the overall industry-Calculate the total industry supply at each price and fill in the table.
Compute the path of the economy, that is , calculate real GDP, the price level, the inflation rate and real money stock for each year until GDP I swithin 1% of the potential. (limit calculated values to 10 decimals points)
Compute the total revenue and total economic profit at each level of output. Compute the pizza shop's marginal costs and marginal revenue level of output. What is the profit maximizing rate of output for pizza shop?
Discuss the difference among inflationary gap also deflationary gap.
Robin and Terry are Stranded on a deserted island and consume two products, coconuts and fish. In a day, Robin can catch 2 fishes or gather 8 coconuts, and Terry can catch 1 fish or gather 1 coconut.
Why might it be difficult for the Fed to formally adopt inflation targeting? Would inflation targeting be a good policy for the Fed in the present economic environment
A pure monopolist determines that at the current level of output the marginal cost of production is $2.00, average variable costs are $2.75, and average total costs are $2.95.
Explain how to describe price elasticity of demand. What are the factors that affect price elasticity of demand.
Cartels are a form of anti-cooperative activity. Critically examine the factors that may facilitate the establishment, operation and detection of cartels.
The agricultural market for corn usually can be characterized as a purely competitive industry. How might the following events affect the shot-run cost curves and output for a firm in the industry?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd