How many popsicles will be sold each day in the short run

Reference no: EM13241795

Currently, at a price of $1 each, 100 popsicles are sold per day in the the perpetually hot town of Rostin . Consider the elasticity of supply. In the short term run, a price increase from $1 to $2 is unit-elastic (Ex=1.0) . So how many popsicles will be sold each day in the short run if the price rises to $2 each?

Reference no: EM13241795

Questions Cloud

Explain solution of potassium bicarbonate : What are the two pKa values for carbonic acid? What is the pH of a 0.100M solution of potassium bicarbonate. What is the pH of a 0.100M solution of potassium carbonate

What is the meaning of the term 1-l and the optimum level : U(C,1-L)=4C2/3(1-L)1/3, where C is the amount of consumption and L is the number of hours worked. If the price for consumption is $9, the wage rate per hour is $6, initially the consumer had $162 and 24 hours as time endowment

Evaluate the relationship and statistical significance : Run a chi square goodness of fit using Type of Purchasing (PurType) as the variable with all categories equal and report the observed and expected values and the tests of statistical significance.

Find out how much ag+ remains in solution : The initial concentrations of Pb2+ and Ag+ are 0.05M and for Cl- 1.5M. Assume all the present Pb2+ and Ag+ precipitate out of solution. Use the remaining Cl- concentration and the Ksp and Kf reactions for AgCl and AgCl2-, respectively, to determin..

How many popsicles will be sold each day in the short run : Currently, at a price of $1 each, 100 popsicles are sold per day in the the perpetually hot town of Rostin . Consider the elasticity of supply. In the short term run, a price increase from $1 to $2 is unit-elastic (Ex=1.0)

Explain the heat capacity of steam : How much heat (in kJ) is evolved in converting 1.00 mol of steam at 130.0 degrees C to ice at -55.0 degrees C? The heat capacity of steam is 2.01J/g and of ice is 2.09j/g.

How could new manager of beta corporation improve efficiency : Gamma Corporation, one of the firms that retains you as a financial analyst, is considering buying out Beta Corporation, a small manufacturing firm that is now barely operating at a profit.

Compute the equilibrium concentration of pcl3 : .05 moles of PCl5 and 5 moles of PCl3 are introduced into an evacuated 1L chamber. Calculate the equilibrium concentration of PCl3 knowing that K=33.3

What is the ratio qb/qa and eb/ea : Two metal spheres of different sizes are charged such that the electric potential is the same at the surface of each, What is the ratio QB/QA and EB/EA

User Account

All Pages