How much can approximate sell of products

Assignment Help Econometrics
Reference no: EM13183624

The price elasticity of deman for a firm's product is equal to -1.8. the firm currently sells 4,000 units per day at a price of $2. if the firm increases its product price by 10%, then how much can it approximately sell?

Reference no: EM13183624

Questions Cloud

What is the optimal input bundle and cost of producing : A U.S. firm is considering moving its production to Mexico. Its estimated production function is q = L 0.5 K 0.5 .  The U.S. factor prices are w = r = 10.  The Mexican factor prices are w* = 5, r* = 10.  What is the optimal input bundle ( L,K..
What is the predicted quantity dmenad : a multiple regression analysis based on a data set that consists of 30 observations yielded the following estimated demand equation: Q=120 - 1.1P + 0.04I + .90A where P is the price, I is Income, and A is advertising. If price is equal to $1000, i..
Explain difference in the ending inventory balances : Explain the reason for any difference in the ending inventory balances under the two costing methods and the impact of this difference on reported net operating income.
State the fertilizer washes into a river that flows : A farmer applies 1400.0 kg of a fertilizer that contains 10.0% nitrogen to his fields each year. 15.0% of the fertilizer washes into a river that flows through the farm.
How much can approximate sell of products : The price elasticity of demand for a firm's product is equal to -1.8. the firm currently sells 4,000 units per day at a price of $2. if the firm increases its product price by 10%, then how much can it approximately sell
State what is the equivalent dose : A lab rat weighs 265g and absorbs 1.68x10^10 beta decay particles, each with ernegy of 2.20x10^-13 J. If relative biological effectiness is 0.75, what is the equivalent dose?
Sketch a cube and how many vertices does it have : Sketch a cube. How many vertices does it have? How many edges? How many faces? Mark four vertices of the cube that are also vertices of a regular tetrahedron.
State the law of diminishing marginal utility : produce the product at the lowest variable cost and sell as many as you can at the highest acceptable price. produce the product at the lowest fixed cost and sell as many as you can at highest acceptable price in the marketc. produce the product at ..
State and specify the hybrid orbitals that overlap : Draw a Lewis structure for each of the following compounds. Specify the hybrid orbitals that overlap to form each bond. Then label each bond as a pi or sigma bond

Reviews

Write a Review

Econometrics Questions & Answers

  What percent chances are there for a recession

During a recession, the hotdog project will earn $12,000.00 and the Champaign project will lose $8,000.00. If the alternative is earning $3,000.00 on government Treasury bill (T-bill), what should the manager do? Why?

  Solve the equations that characterize the optimal allocation

Government consumption in our model is simply a "waste", that is it does not affect anyone's utility or affect the production process. Use the Pareto Optimality framework. For each of them, solve the social planner's problem and show the equations..

  What are bobbys implicted cost of selling pianos

of this sales revenue he must pay the manufacturer a wholesale cost of $620,000 he also pays wages and utiilty bills totaling $210,000 if he doe not operate this piano business he can work in an accounting firm and recieve an annual salery of $45,..

  Maximizing total output vs output per worker

You have given the following data about the amount your firm can manufacture per day given the number of workers it hires.

  Define the marginal benefit function

A factory benefits from discharging effluent, q, into a lake. The marginal benefit function is given by 60-2q. The pollution causes damages to two nearby communities. The marginal damages to Community A are 1q. The marginal damages to community B ..

  What is the variance of the time between arrivals

Cars arrive at Carla's Muffler shop for repair work at an average of 3 per hour, following an exponential distribution. (a) What is the expected time between arrivals? (b) What is the variance of the time between arrivals?

  Define the marginal cost functions of the production

Determine algebraically the profit-maximizing outputs for the production and marketing divisions of the firm and the optimal transfer price for the intermediate product and the price of the final product.

  Coal prices moved in sympathy with oil prices

Coal prices moved in sympathy with oil prices, with the result that coal companies earned pure economic profits. Since coal is a homogeneous good and the market is competitive, what happend in this market.

  What open market policy would recommend to increase income

Say that investment increases by 100 for each interest rate drop of 1 percent. Say also that the expenditures multiplier is 3. If the money multiplier is 5, and each 5-unit change in the money supply changes the interest rate by 1 percent, what op..

  What is the meaning of the marginal utitilty

Find the marginal utitlity for each chicken piece. What is the meaning of the marginal utitilty of the 11th piece? If the price of chicken pieces is $1.25 each, how many will you buy? If the price falls to $0.50, how many will you buy? Explain carefu..

  Which pipe size is more economical at an interest rate of 1%

A small pipeline will cost less to purchase (including valves and other appurtenances) but will have a high head loss and, therefore, a higher pumping cost.

  Legislative proposals to accomplish the goal

In your 1st position as a Finance manager you have been given responsibility for decreasing use of residential heating fuel in state. Choose one of three legislative proposals to accomplish this target

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