Illustrate what is the arc price elasticity for this product

Assignment Help Macroeconomics
Reference no: EM1327874

Arc price elasticity

BWC sells chrome wheels for automobiles. At a price of $600 per set, they sold about 900 sets per month. The new general manager for this product decided that they needed more revenues and increased price to $800. However BWC is now selling 200 chrome wheel sets per month at the new price. What is the arc price elasticity for this product?

 

Reference no: EM1327874

Questions Cloud

Resolution of alternate dispute : What are the advantages and disadvantages for both employers and employees of resolving disputes through alternate dispute resolution, ADR?
Algorithm for finding two closest numbers in the input list : plan an algorithm for finding two closest numbers in the input list. What is the time complexity? Is it possible to improve the algorithm if the input is a sorted list.
Consider focus, divergence, and a compelling tagline : Consider focus, divergence, and a compelling tagline
Explain how was this obstacle managed : Question about Resistance to change - How was this obstacle managed? What actions would you now recommend and why?
Illustrate what is the arc price elasticity for this product : For automobiles BWC sells chrome wheels for automobiles. At a price of $600 per set, they sold about 900 sets per month. Illustrate what is the arc price elasticity for this product.
Express the worst case scenario for quick sort algorithm : express the worst case scenario for quick sort algorithm.
Explaining win-win conflict resolution : A manager who says to a group member, "Are you going to be stupid for the rest of your life?" is most likely engaging in: competition over limited resources, win-win conflict resolution.
Describe term authority and discuss the bases of authority : Describe how people or departments within organizations can gain power through control of resources and through solving key organizational problems.
Suggest a strategy pepsico to close the gap in this market : Suggest a strategy that may enable PepsiCo to close the gap in this market.

Reviews

Write a Review

Macroeconomics Questions & Answers

  Relative value of the dollar and the euro

Explain how each of the following will affect the relative values of the dollar and the euro:

  Economies of scale of three large size firms

Discuss the likely sources of the economies of scale that underlie the large size of these firms. [Note: the stocks of private firms are not traded on public stock exchanges

  Expenditure function about real interest rate

Explain how the aggregate expenditure function shifts in response to changes in each of the following variables:

  Explain international monetary system

Explain International Monetary System

  Own price elasticity and cross price elasticity

Let the market demand for rye bread be given by  Q = 500 + I - 250P rye + 400P wheat , where Q is monthly demand in number of loaves, I is average monthly income in dollars

  Is the company charging the optimal price for the product

Is the company charging the optimal price for the product. Demonstrate how you know.

  Five sources of growth and methods

Identify and describe the five sources of growth? Mention and explain four categories (types) of policies designed to promote growth.

  Categorising the utility functions

Rachel utility function is given by U= I 1/2 , where I represents annual income in thousands of dollars. Assume Rachel is currently earning income of $23,000 (I =23) and can earn that income next year with certainty.

  Ad as diagram and md ms diagram

Explain the effects of these shocks on the price level, real GDP, and the nominal interest rate.   Use an upward-sloping, short-run supply curve in your analysis.

  Concepts of demand and supply

Mention four key points from the reading assignments that were emphasized in the simulation. Find out how price elasticity of demand affects the decision making of the consumer and of the organization.

  Health expenditure on insurance

Jermaine has a health insurance policy that has a deductible of $1,000, a $10 copayment on doctor visits, and coinsurance of 10% on all expenses other than those for which there are copayments.

  Investment decision in german

Explain why the Fed must normally add reserves to the banking system via open market operations, on most days, in order to maintain its interest rate target in the federal funds market.

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